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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