Mortgage Lead Generation Key Terms
Get educated on the types of mortgage leads available to you through learning the key terms
If you are in the mortgage business, there will probably come a time when you will need to acquire leads to increase your business productivity. A mortgage lead generation service can help, but there are so many lead generation companies on the Internet that you might get confused when you see unfamiliar terms. Getting to know the main terms of the mortgage lead industry will not only save you time and money, but will make you appear more knowledgeable about your field. Obtaining the right leads can help your sales; the more you know about what is available to you, the more your business will prosper.
Mortgage lead generation
Mortgage lead generation is the process of collecting a list of people who might be interested in obtaining a mortgage. This kind of list is helpful to those selling mortgages, and many choose to buy lists from lead generation companies so they can concentrate on closing deals.
Try: Find out what mortgage lead generation is at Markcarey.com.
Exclusive lead
An exclusive lead is one that has not been sold to any other mortgage company. This is one of the most desired kind of mortgage leads, but is also the most expensive.
Try: EML Group offers their definition of exclusive mortgage leads.
Semi-exclusive lead
A semi-exclusive lead is sold to a limited number of mortgage agents. They are less sought-after than exclusive leads, but also less expensive.
Try: Aone Leads explains how semi-exclusive mortgage leads differ from other types, including how many times they are sold.
Incentivized lead
An incentivized lead is generated by someone filling out a form for which they receive an incentive or reward. If you buy this type of mortgage lead, you might find that the potential customer is not interested in obtaining a mortgage but just wanted to win something.
Try: MediaPost Communications defines incentivized leads and lists their purpose.
Live transfer leads
A live transfer mortgage lead is a brand new lead in which highly interested customers have provided their information. It is verified multiple times, and the call is transferred to your top salesmen.
Try: The Lead Source talks about live transfer mortgage leads.
Conversion rate
A conversion rate is the percentage of potential customers that a company can convince to buy its product. When a lead generation company has a high conversion rate, it typically means that they sell quality mortgage leads.
Try: Prospect Zone provides a definition of conversion rate on its mortgage leads glossary.
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