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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