Things to Consider Before Buying Mortgage Leads .pdf
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Things to Consider Before Buying
It is not always an easy thing to check for the best mortgage lead companies. When
you want to find one, the first thing you should do is type in the query on the internet.
You are likely to be bombarded with so many answers and should be careful in
selecting the right one. Before investing or checking for exclusive mortgage leads,
you should do your homework. You should read the company's terms and conditions
before buying mortgage leads.
Here are a few things to consider before buying mortgage leads.
Try to understand where the company is getting their leads. The loan officer leads
are very crucial and some companies recycle the leads and sell it several times.
They also buy the down payment assistance mortgage leads in bulk from other
companies and resell them. The same happens with VA mortgage leads also.
Budget also plays a major role. If you are on a tight budget, then you should
narrow the search and FHA leads to the lead companies. Some companies have
deposit requirements and may not allow depositing not less than 500 dollars.
The return policy also should be closely watched. For this, you should check
information through lead site reviews. If there are leads with bogus contact
information, the money you invested should be returned.
As a whole, before checking these aspects, you should read the terms and
conditions of the company and should also speak with their customer executives.
You should also read the reviews on the web and understand the kind of
experience other loan officers had with the companies you may opt for. None of
the lead companies can guarantee 100 percent closure rate. These companies are
very adamant about it.
Getting leads exclusively is a slightly above the budget thing. This is a little pricey
also. But the good thing is that in an exclusive thing, the leads will be sold only to
you. But non-exclusive leads are sold three to five times to you. It will be half the
cost, but you may be competing with other loan officers.
Customer service holds a major role and the way they handle things over phone is
very important in their efficacy in work. If you are facing difficulties in getting
someone over the phone, then it is very likely that they are not worth your
Co-worker referrals play a major role when it comes to finding a mortgage lead
company. You should always ask around and see what you can come up with. You
should make a note of that aspect and it works wonders for your lead company