Michigan mortgage leads provide information on prospective clients who are looking for a mortgage. They are essential to sales professionals and many companies offer them to lenders who need mortgage leads. MI mortgage lead companies may charge by the month or by the lead.

You can obtain mortgage leads in Michigan quickly through the Internet. Lenders offer website visitors an opportunity to submit their personal information in a mortgage query and then sell that information to mortgage brokers.

There are three basic types of leads you can obtain from a mortgage lead company in Michigan:

1. Mortgage lead services in Michigan will send a non-exclusive lead to more than one mortgage broker. This is the most inexpensive type of mortgage lead in Michigan and is the result of a prospective customer looking for the best deal.

2. A mortgage lead company will send exclusive mortgage leads in MI to only one broker. This is the most lucrative and therefore most expensive type of lead.

3. Semi-exclusive leads represent a compromise between exclusive and non-exclusive mortgage leads. Michigan mortgage lead companies sell semi-exclusive leads to a limited number of mortgage companies, usually four or five, that compete for the sale.

Action Steps
The best contacts and resources to help you get it done

Find mortgage leads for Michigan in real time

You can save time by doing business with Michigan mortgage lead companies that send potential clients directly to you for an immediate response.

I recommend: Big Mortgage Leads offers Michigan mortgage leads when you select Mortgage Leads on the order form. Mortgage Lead Market requires you to register with the online system and select your filter preferences. You will start receiving leads the following day.

Buy mortgage leads in Michigan by the batch

Mortgage lead companies usually can deliver a group of leads in a variety of formats. This allows you to distribute leads to your sales agents in the manner most efficient for your business.

I recommend: The Leadlink sorts leads based on the client's criteria and delivers this list each day. Select Mortgage as the Primary Lead Type and the desired format in the drop-down list to receive lead lists by either Post, PDF or CSV from National Lead Service.

Hire a local company that generates MI mortgage leads

A Michigan-based company will be better able to recognize bogus leads such as raw land that does not have buildings than a national lead-generating firm with no presence in the state.

I recommend: Detroit-based Mortgage Broker Sales Leads, powered by Bresser's Information Service, offers a consumer list with the demographics you specify. Inter-Lake Mortgage Company is in Grand Rapids and provides leads that cost a fixed percentage of the loan.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  You must compare the cost of mortgage leads in Michigan against the profit generated by that sale. For example, if a particular type of mortgage lead results in a sale about 10% of the time, the cost of the lead must be less than 10% of the profit on the sale.