Thursday, December 4, 2008

The Right Ways to Assess Mortgage Leads

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When it comes to business, it’s not enough that you have mortgage leads. You should be after the best ones, and for that, you need to set up some criteria. After all, not all leads are very good and can thus be very useful for your business. Getting them for free or not will just be a waste of time, energy, and effort.

What Makes a Good Lead?

The very first thing that you need to do is to determine what kind of lead you’re trying to use. You can consider its freshness, accuracy, and real.

A lead is considered fresh if it has not been used by any other company except yours. Otherwise, there’s a huge possibility that the home equity leads are already rejects by other companies. Moreover, it should be obtained within 24 to 48 hours and definitely not more than that. The more recent the leads are, the more valuable they are going to be for your business. After all, these are the people who are in need of your services right away. If you’re going to offer your products and services to them, there’s a huge percentage that they are going to avail of them.

On the other hand, if you’re going to wait for sometime before you really decide to contact these leads, their curiosity may have already faded or that they may just taken the initiative to look for refinance companies themselves. Furthermore, the gap will give them time to forget about their need, and when you’re ready to communicate with them, they may even doubt that they ever provided you of their information.

Your mortgage leads should also be accurate. This doesn’t only refer to the leads themselves—that is, the names are definitely from people who are looking for mortgage, home equity, or refinance loans. This also refers to the data that are being provided by the leads. Some leads can accidentally or deliberately commit mistakes in filling out forms, mailing lists, and questionnaires, to name a few. What you can do is to make use of some software that can help you verify or confirm the information that are being provided. For instance, there are programs that will allow you to verify telephone numbers and even addresses. This way, you can double-check if the phone numbers match the state or city. The zip code can also be verified. You can also opt to gather the home equity leads yourself through telephone calls, a process called telemarketing.

Lastly, a lead should be considered real. This means that the leads are really those from people who are really interested of your services. This is because there are some websites that are willing to offer money and other forms of freebies as long as they fill out questionnaires and application forms. The leads will then be sold to those who may be looking for mortgage leads, such as you. This will then increase the possibilities of getting wrong leads for your business.

The best option is to come up with the leads on your own. There are many ways on how you can do that, one of which is through a mailing list from your own website. You can also buy these home equity leads or refinance leads from a reputable company, one that has been around for years and has really excellent track record.

Nevertheless, don’t forget to make use of a dependable mortgage leads software, so you can conveniently and effectively manage them. Keep in mind that not all leads can be converted to sales. However, with the right program, you can increase your chances of doing so.

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Wednesday, November 19, 2008

The Basics of Mortgage Leads

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What a lot of people do not know is that mortgage leads is another one of the more lucrative leads that lead generating companies sell to mortgage and lending companies. Depending on how qualified a lead is, loan officers and mortgage brokers shell out huge amounts of money to obtain the information they need on these people who might need to take out huge loans to purchase a house or to refresh an existing mortgage. With the huge demand for leads like this, it is then no wonder that numerous lead generating companies focus a lot of their efforts on this kind of a lead. How do these lead generating companies gather this information and what information is often included in these mortgage leads? Where do some of these leads come from? How do these leads get found by the lending companies that can give them the loans that they need?

Lead Gathering Techniques

One of the more common ways for lead gathering companies to get the mortgage leads that they sell to lending brokers and housing loan companies is to have a prospect fill out a pre-qualification form online. The people who fill these forms out are usually people who search for mortgage companies to approach for their needs or are curious to find out how they can secure a housing loan. Since these people click on sites that are often results of a search for “mortgage loans”, you can be sure that they will find themselves on the landing page of either a mortgage company that is gathering its own leads or a lead generating company that gathers the leads for other entities who need them.

When you find yourself on such landing pages, you will usually be met with a pre-qualifying form you need to fill out. These forms are often offered as free mortgage quotes for those who need to know how much they can borrow, although the free quotes and assessment they need do not come as soon as they fill out these forms. People who fill out these online forms usually get a call from a loan broker or a lending consultant a few days or even a few weeks after they fill out these forms. The information that is gathered by these companies on these sites are actually sold to the people who make these calls. Usually when lead gathering companies get this kind of an information from the forms that they post on the internet, they often sell these to more than one client. Since these forms are often detailed and are often filled out by people who are in need of these loans, they are often considered qualified leads.

When people fill out a lot of these online forms to get the information they need, they usually find themselves inundated by calls and emails from the lending brokers who buy this kind of information. This may be because the information is sold to numerous similar entities due to the number of times a mortgage information sheet is filled out.

Another way that mortgage leads are gathered is through credit report information. Some lead generating and selling companies get their leads from these reports that are triggered by a mortgage application. People who often belong in a list like this that credit reporting agencies have are often people who are looking to get a second mortgage, a refinance or a home equity loan. This kind of a lead is often used by lending institutions who specialize in sub- prime lending. This kind of a lead is still considered as qualified as the leads that have people fill out inquiry forms online about mortgage needs and are also sold to mortgage companies and lending institutions at a premium rate.

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Thursday, November 6, 2008

How to Work with a Mortgage Lead Company More Effectively

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In truth, you can generate mortgage leads on your own. You can make use of both offline and online strategies for that. However, you also know that it’s going to be a lengthy and time-consuming process. That’s why when you want to get excellent home equity leads and refinance leads fast, you settle for a mortgage lead company.

These mortgage lead generators can be found everywhere, but they usually set up their business online. The industry itself has received criticisms from mortgage lead buyers, especially on the way they collect leads as well as their quality. Nevertheless, some of them are really good at what they do, and these are the companies that you may like to look for.

Because buying leads is never cheap, you have to make sure that you don’t waste your investment. You can take note of the following things when looking for the right mortgage lead company:

1. Research and research. This could not be stressed enough. How many lead buyers actually do this process? Perhaps the mortgage lead company you’re currently dealing with has been recommended by a friend who’s also into business or a mortgage lead broker. But it doesn’t necessarily mean that they are what you’re searching for too. Who knows that all of you have different criteria for the company you want to work with? When you’re in the process of researching, obtain as much information as you can about the company, even the names of people who are handling the business. You also have to know their services, their contact information, and even the process they used to get leads. You may end up with those that process leads with mortgage brokers, which can be bad for your pocket, since you can always cut the chase and go straight to the latter.

2. Read testimonials or ask for references. You may also want to get an idea of how they deal with their mortgage lead buyers, as well as the overall buying experience. This step is very important because it actually allows you to already have a good idea if the company you’re dealing with is real or not. The legitimate ones know this, so they are not really afraid of giving out names of their clients. The shady companies, however, will be apprehensive, knowing that they may giving away fake names or that they have not really provided useful refinance leads or home equity leads to them.

3. Understand their terms and conditions very well. If you’re already on the stage of buying, the first thing that you have to obtain is their terms and conditions. A number of them are just like salespersons. They can offer you the sun and moon just to make sure that they can get your approval. There are a lot of things that you would like to look for in your contract, but mostly, they should always be in your favor. For example, if you have certain states in mind—like California, Florida, or Ohio—these places should be clearly identified in the contract. The kinds of leads that you will be getting must also be specified. Moreover, as much as possible, you may want to get these leads personally, so you can already take a good look at them.

4. Ask for a sample lead. You should keep in mind that not all companies will give you sample leads for the simple reason that they are not really comfortable in doing so. It may take you a while to close deals, which may then affect your buying decision. Nevertheless, it will provide you of a hint of how your chosen company works with leads and the quality of leads that they can give you.

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Wednesday, October 22, 2008

How to Find Leads for Your Home Refinancing Business

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A casual check on the Internet about home debts and mortgages will tell you that the home foreclosure rates have gone up again. This may be because a lot of home owners are misinformed or do not at all know that they can have the mortgage to their homes refinanced so that these will not be taken by the banks as yet. It is therefore important that you (and the company that you represent or own) reach out to the clients before their homes are foreclosed. This strategy will give you a lot of mortgage leads.

Finding Leads

If you are in the home refinancing business, you are most likely aware that banks are earning a lot of money on the homes that they are foreclosing. You can get a cut from this by offering your services and money to the people who need it now but have enough money to pay you later. It may be quite easy to find people who’d grab the opportunity to have their homes refinanced, but it is difficult to filter these out and separate the ones who will or will not pay.

You should not just go out and buy any lead, but quality and pre-qualified leads—better yet, generate your own. With the help of the World Wide Web, you will soon realize that finding mortgage leads, refinance leads, home equity leads, and any other type of lead is quite easy. There are two ways to get these leads easily: buying them or generating them.

Buying Leads

You can find leads by buying them from companies that specialize in creating them. Depending on the type of lead, most of these lead-generating businesses will sell you leads for around $25 a piece, more or less. However, you should be careful in reading the lead generator’s fine print, or you may be buying leads that they are selling to more than 5 companies. Your chances of turning that lead into a sale is, of course, only 20%, and you may be paying too much for it.

Generating Your Own Leads

Another option is to make your own mortgage leads or home equity leads or refinance leads by simply buying a software that you can set to include the parameters that you are looking for, such as automated report generation and lead tracking, to name a few.

First, determine who your targets are and what kind of lead you are looking for. You can simply add a form on your business’s website and have your prospective clients redirected via your lead-generating software toward your customer support team. If you do not such a team, there are software that can help filter fraud versus real leads. Nevertheless, you can always double check the results.

After Finding the Leads

Some companies think that leads will automatically be converted to sales, so they just wait for the clients to contact the company for a refinance deal. Rather than doing that, jump at the opportunity and call the lead with your sales pitch and credit terms. You’ll have a better chance of turning that lead into real sales if you call at once.

Don’t assume that any lead is a good lead so that you immediately give that person a loan. No matter how rigorous the software filtering system is, there will always be people who can get away with fooling the system. Use the information provided by the lead wisely; do a background or cross check. That is why it is necessary to have a form that will let the client input as much information as possible. You don’t want to be handing out money that will not be paid later.

Talk to your mortgage leads or refinance leads. If they are not yet ready for your input, continue to send them e-mails and newsletters to keep them updated of the new products that your company is offering or simply to remind them that you are just one call or e-mail away. In no time, they’ll call back, and your home equity leads have just been converted to sales.

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Thursday, October 9, 2008

The Need for Leads for Housing Loans: Why Your Company May Need Mortgage Leads and Refinance Leads

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People who need mortgages and refinance loans usually try and find the lending institutions who give these loans out. While you can wait for customers to come to you and take out a loan from your company, wouldn't it be better if you beat them to the punch and offer them your services just when they really need it? This is what mortgage leads, refinance leads, and home equity leads can do for you. They can give your lending company the much-needed contact information that will get you the clients you want.

What Information Do These Leads Provide You?

The information that you get from mortgage leads, home equity leads, refinance leads or any leads that are generated by lead-generating companies with regards to real estate needs and loans have information that will help you close the deals you are trying to make. The information that is contained within the leads that you get will often contain information like the present real estate situation the person is in, his current employment status, and other pertinent information that will help you talk with the person about his real estate loan needs.

Why Do You Need These Leads?

Why do you need to get these leads, and why do you need to get leads that specifically target those that need real estate loans? Those mortgage leads, refinance leads, and home equity leads that you get are essential for giving your real estate loans business a boost in the right direction. Just like leads that show people's interest in certain hobbies or products, real estate leads give you an inkling as to what kind of a loan a person needs even before you follow up on the lead. Leads that are specific help cut out all the guesswork and the time needed to get to the person's needs. You do not necessarily have to go around in circles before you get to the nitty gritty.

These leads are probably one of the things that will help you increase the number of people who have loans with you. Since these leads that you get are usually detailed enough for you to create an opening spiel that will capture the person's interest, you have half the battle down. This will help you get the person to listen to you since you are giving them information that is valuable to them—information that will lead to their being able to get the loan that they need and a follow up that might lead you to closing a deal for a mortgage or a refinance.

Where to Get These Leads From

There are a few ways for you to get these mortgage leads, refinance leads, and home equity leads. There are actually lead-generating companies that can give you the specific leads you want and need without your having to do much but follow these leads up. There are also companies that can develop specific software for your business, and these software can be placed on your website and can be used to gather the information you need on your leads. These are custom-made software where people will need to fill up specifics to help them get the kind of loan information they will need from you.

The most effective way for you to gather these leads would be to have a good lead-generating company get the leads for you so you can focus on closing the deal instead of weeding out the possible serious inquiries from the ones that are just curious about some of your services. Although those people who are curious can become future clients as well and will need to be nurtured to keep them interested, your main focus will be those that need your services now, and lead-generating companies have a lot of those.

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Thursday, September 11, 2008

Mortgage Leads and Other Home Loan Leads: Offering People Housing Loans through Leads

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The use of leads to gain clients has become such a common enough practice for a lot of businesses that companies that offer mortgages and other housing loans are now using leads to reach people who need them before these people can get in touch with a competitor. Mortgage leads, refinance leads, and home equity leads are now being used by home loan companies and lenders to get more clients to use their services over their competition.

This increased interest in finding leads that can generate added income for mortgage and refinance companies has also increased the number of companies that offer such services. The use of leads to get in touch with clients who need to secure a loan for the purchase of a house or to refinance an existing mortgage is proving to be a good idea for a lot of companies who want an edge over their competition. This is because they can get to the people who need their services before their competitors can.

How these leads are obtained is usually done through a number of ways. One of the ways that lead generating companies use is by placing ads on certain websites that offer such loans or by creating websites that specifically offer such loans. While these leads generating companies do not really offer these loans to those people who need them, they sell the customer information that they get from such a marketing ploy to those companies who do offer such a service. These companies then contact the people or leads that they get from the lead generating entity that they employed and offer their home loans to these prospective clients.

Using home equity leads, mortgage leads, or refinance leads for your lending business can prove to be a wise move if you want an edge over the other lending companies in the area. While getting these leads may not assure you of a done deal, they do help increase the possibility of your getting more clients than when you were not using leads. The only way you can assure yourself of getting these leads to sign up for your lending programs is to have a good sales and support team available to close the deal.

Getting leads is only the beginning of this process and what you do with these leads is what can dictate success or failure for you and your business. You can, however, start your marketing strategy for such a move by choosing the right company to handle leads gathering for you. There are a lot of companies that offer such a service and finding the right one to give you the right leads may require a bit of research on your part. These companies, after all, require payment for such a service and if the service they offer does not help generate the kind of results you desire, you are essentially wasting money.

You should try and find a leads generating company that knows what kind of leads you need. You should be specific about the kind of leads you require so that the leads generating company you employ will know what to put on the questionnaire that they post on the internet. These questionnaires often help weed out the kinds of leads you do not want to deal with, like those who are not really looking for a mortgage or a loan or those who cannot afford to pay off a loan. Other questions that these questionnaires may have can include employment details, credit card information, property information and other important things you will need to know to help you ascertain if the lead is indeed capable of paying off a loan and should be contacted by your sales staff.

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Tuesday, September 2, 2008

Generating Good Home Equity, Mortgage, and Home Refinance Leads

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With the prices of basic needs rising up too fast, home owners try to look for good deals with which they could mortgage their homes, refinance their mortgage, or find the best equity for their property—but all for a fair value that would still allow them the capacity to pay for the loan. Customers have gotten clever these days and are constantly looking for avenues to give them the best deals. This becomes a good challenge for the lenders to find good leads.

The Internet and the telephone are your best friends in this business. These will help you filter out your clients and follow them through the process until they close the deal with you. Thus, generating good leads have become easier these days. A lead is a potential customer that might do business with you given the right conditions.

Guidelines for Mortgage Leads
Good mortgage leads have to be monitor all the time to ensure that they will really give you a good return on your investment, such as your time and effort. Each lead should be checked for credit background, capacity to pay, and most, importantly, if he or she is truly qualified to avail the mortgage. Also, check whether the lead is a real prospective client who will work solely with you. Try telemarketing mortgage leads. Telemarketing will give you a cheaper alternative in generating good mortgage leads. Moreover, the telemarketers will be able to filter out those that are really interested to the mortgage and are ready to talk to you for the deal.

Guidelines for Refinance Leads
Home owners are making the most of the low prices of mortgage deals and are refinancing their homes. These are the good clients because they would want the deal to be closed soon. Most of the companies dealing with refinance leads can provide you with a customized way where you can specify what criteria you want to impose upon your prospective clients. Sending the customers daily quotes will give them the chance to weigh their choices. Refinance leads will generate the most return of the money you invested as long as the customer is satisfied with your terms.

Guidelines for Home equity Leads
Home values have become really high in the past years. This fact should help you in generating home equity leads because the home owners are now trying to take home equity loans so that they could do some improvements on their abode or finance their cars and other expenses. A home equity loan is a type of loan wherein the borrower’s home is used as collateral. Therefore, it would be best for you to evaluate the customer’s house as fairly as possible so that the client will choose you over the many prospective lenders that would be knocking on his or her door. But by being fair, you should not sacrifice your profits. Home equity leads have been known to generate very good returns of your money, maybe some multiples over.

For all these leads, a reliable lead management software will help in tracking all those real ones and follow them through until the deal is closed.

But how does such a software work?

1. An advertisement is created and posted on the Web. This advertisement may come in the form of text ads, banners, or e-mail advertisements, which are designed to capture the client’s interest. The prospective customer will see the advertisement and click on it.

2. The prospective client will visit the website that handles the advertisement. You can also choose to have the customer redirected to your own website; this will depend upon your deal with the advertisement handler.

3. The information gathered from the customer’s visit to the mortgage website will be filtered by the software and the results will be reported to you. You can then follow this mortgage lead and contact your customer.

4. The software will allow you secure access over your account to ensure that all the data will be protected.

The general advice would be to follow a lead no matter if it is not the best. Any lead will most likely produce a good deal if you can find a way to work it out well with your customer.

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