A Guide on How to Grow Your Pipeline for Consistent Deal Flow
If you’re after a steady stream of deals in a crowded market , getting your hands on mortgage leads can help get you in front of motivated borrowers with a lot less hassle. The trick is to figure out how those leads are created, vetted and handed over, so you don’t waste your cash or your time.
What Exactly Are Mortgage Leads?
Mortgage leads are people trying to track down the best home loan for them, by looking for a better rate or refinancing. These potential customers will usually share their contact details and what they’re looking for, so you can get in touch with them ASAP with some relevant offers.
Why You Should Buy Mortgage Leads
Getting your mortgage leads from a supplier saves you heaps of time and makes it so much easier to reach out to potential customers. With a steady supply of pre-vetted leads you can cut down on the amount of time it takes to close deals, make more sales and keep your pipeline full.
There Are Different Kinds of Mortgage Leads
- Exclusive vs Shared: If you go for exclusive leads, then they’ll only go to you, whereas shared leads will be sold to loads of other companies and are often a lot cheaper
- Live Transfers vs Form Fill: Do you want to get connected to a borrower right away, or do you want to get some basic details from them and follow up later?
- Purchase or Refinance: Choose the one that’s right for the market you’re in and your area of expertise
What to Look For When You Buy Leads
First and foremost, you need to make sure the leads you’re getting are good quality, compliant with the rules and regulations and that the supplier is upfront with you about how they work. Ask about things like how they get the leads, what filtering they do, where in the country they’re from and whether or not people have opted in to get in touch. Transparency on things like pricing, refunds and how long it takes to get the leads is a must too
Tips for Making the Most of Your Leads
- Respond to them within minutes, otherwise you might as well forget it
- Craft up a script and some messaging that actually adds value
- Keep an eye on how well you’re doing and adjust your targeting to get better results
- If you’re going to follow up with people, make it helpful and useful, not too pushy or opportunistic
Final Thoughts
If you get mortgage leads right, and do the right thing with them, you can get a regular flow of business, connect with people who are genuinely looking for a mortgage and get them over the line a heck of a lot faster than you would if you were starting from scratch.
