If you are a new loan officer, you may not have as many leads as you would like.
There are many ways to get leads. By word of mouth from customers, networking groups, family, friends, etc.
But if you are a new loan officer and need to get your business going, you may want to invest in a mortgage lead company.
Most likely, you haven't heard much good about mortgage lead companies. There are, however, a few good ones. And if you take your time and look around, you might find the right one.
Here are some things you should not do:
Avoid companies that sell their leads over and over again. Recycling means that they keep selling them.
So, it's likely that dozens of loan officers have already looked at these leads before they got to you, so stay away from them.
Stay away from lead companies that buy their leads from other companies and then sell them for a profit to loan officers.
You never know how many times these third-party companies sold these leads to other mortgage lead companies.
If you're just starting out, you may not have a lot of money, so look for lead companies with low minimum deposits.
Also, try to find lead companies that get their leads from websites they own and run themselves. This is a good sign that the lead is good quality every time.
And look for companies that sell real-time mortgage leads or that only sell them. When you buy leads on an exclusive basis, you can get rid of your competitors.
Real-time leads are also called "fresh leads," which means that when you get them, they are hot off the press. With real-time leads, the number of deals you close will be much higher, and your return on investment will be even better. Why shouldn't it be that way? You earn your money by working hard.
