If you are a loan officer or mortgage broker looking for a good source of leads, one of the first things you will want to do when thinking about a mortgage lead company is to find out how they get their leads.
How a mortgage lead company gets their leads is very important because it has a lot to do with the quality of the leads you will get.
If a lead company gets their leads from somewhere else, they are recycling leads. Who knows how many times that third party company has sold the leads to other businesses.
You have almost no chance of closing a loan on a lead that has been passed around to fifteen other loan officers before it gets to you. So stay away from used leads.
Some companies that sell leads have one database with thousands of leads that they keep selling over and over again. They will sell them cheaply, but usually you have to buy a lot of them. Most of the time, these leads are six months to a year or more old. It's also called recycling. A better way to say this is to say that it is "selling junk."
Look for lead companies that get their leads from their own websites that they own and run. These kinds of businesses get new leads every day and sell them in "real time." So by the time you get the lead, it has only been out there for a few seconds.
The best way to find out where a mortgage lead company gets its leads is to call and talk to a customer service representative.
Ask them straight out, "Where do you get your leads?" If you don't like the answer they give you, you probably won't like the leads they send you, either.
