If you are a loan officer or mortgage broker who is thinking about buying mortgage leads, it's important to know where these lead companies get their leads.
A lot of the time, mortgage lead companies sell their leads more than once. They have a database with tens of thousands of leads that they sell again and again.
Or, they buy a large number of leads from a third party and sell them for a profit.
This is called selling junk or recycling leads. Who knows how many times that third-party vendor sold their leads to other mortgage lead companies.
By the time that lead gets to you, it has been passed around to dozens of loan officers.
Your best bet is to only work with mortgage lead companies that own and run their own sites for generating mortgage leads. This way, you at least know that there is a good chance that the lead will be good.
What can you do to find out?
Call the company you're thinking about and talk to someone in their customer service department. Don't be afraid to ask directly where and how they get their leads.
If their answers don't meet your needs, you can move on to the next mortgage lead company.
Remember that if you don't like their customer service, you probably won't like their leads either.
