Buying Mortgage Leads

Pump up your loan business with qualified real estate leads

By Greg Brown

You've got a sales force, a call center and a billion dollars in cash to loan. Why aren't the phones ringing? Probably because your sales team needs hot mortgage leads. The business of vetting and selling real estate leads has turned into a 24/7 market thanks to the Web. It's a matter of deciding where to buy mortgage leads, how many to buy, then getting to work.

It's not hard to buy mortgage leads. It's important, though, to understand what you are buying. In this guide, you will learn:

1. Where real estate leads come from
2. The difference between a normal mortgage leads and live mortgage leads
3. How to find refi customers using mortgage leads lists
4. When to regionalize your search for good real estate leads

Mortage leads can come straight to your salesforce

People, millions of them, cruise the Web looking for a mortgage. Once they type in their basic contact data, you can buy mortgage leads from major sites like Yahoo! and MSN through real estate leads sellers.
Try:

Buy Internet mortgage leads straight from major Web sites using mortage leads providers like Juicy Leads, Live Lead Network, and NR Leads.

Real estate leads are good, live customers are better

Increasingly, mortgage lead companies are using call centers to call up leads for you, cutting down on the number of useless calls.
Try:

The key to getting great real estate leads is often less speed than quality. Get pre-screen leads through companies like Double Positive, Leads to Clients, and E-Lead Spot.

Buy mortage leads lists for refinance deals

First-time or "hot" buyers are one market, but a huge number of mortgage leads are actually trying to refinance. They own a home, and just want the best deal on cheaper money.
Try:

Lists of mortgage holders can be purchased from database companies like Intelius, Selectory and Century List. Refinance mortgage lead generation is often a matter of connecting your sales force to these homeowners -- proven borrowers with collateral.

Cut the work on finding mortgage leads to a minimum

If your bank or lender is working locally, it won't help to have leads from another city where your bank is less known. Better to sell directly into your own market first.
Try:

See the Business.com directory of real estate leads by U.S. state.

Don't confuse mortgage leads with mortgage lists. Lead are first-time buyers who are actively seeking a loan. Lists will be homeowners who might be looking to refinance, but have no serious time concerns pushing them to do so.
Never marry a lead service.They'll always be around, so shop around until you get a powerful response from your mortgage leads calls.
If you're going to buy live real estate leads, get your salespeople into decent soundproof cubicles with good telephone headsets. Nothing is more off-putting for a customer than call-center chatter.