What to Consider When Buying New Purchase Mortgage Leads

According to the 2017 marketing benchmark report from Outbound Engine, only 16.4% of loan officers confirmed success with new purchase Mortgage leads. Knowing the key things to consider before making a new purchase mortgage leads from a mortgage lead company will significantly boost that satisfaction rate.

As a matter of fact, purchasing new mortgage leads isn’t a one size fits all solution. Several loan officers have had significant success in buying leads. Yet, others s in the same industry have spent a fortune and seen no results. If you intend to make the most from that list of new purchase mortgage leads, you’ll want to look at all the facts.

To do this, you have to research all the options at your disposal. So before you go for those new purchase mortgage leads buy leads from any company, consider the following alternatives:

Use marketing automation

According to HubSpot, 80% of marketers that use automation software can generate more leads. This figure makes a huge difference. Although there are many reasons to explain this, here are three:

  • Nurture and grow more leads through content marketing.

Content marketing generates three times the amount of lead paid advertising will get you.

  • Marketing automation enables you to nurture leads.

Businesses who invest in leads make 50% more sales and spend 33% less than non-nurtured counterparts.

  • A website dedicated to new purchase mortgage leads.

Mortgage lead exchange platforms like MortgageLeads offer a premium website to drive marketing traffic, and this traffic becomes valuable information that is stored. It’s a necessary step in obtaining interested prospects or reactivating dormant clients.

Use social media advertising

Get the conversation flowing and interact with the existing networks through your business social media. However, social media advertising will also bring up your business in front of audiences who do not already follow you. For instance, you offer to reach your target with social ads, whether you’re interested in those in your current area or trying to expand your reach. Joining social media advertising forces with an optimized landing page website will help to capture new leads effortlessly.

These are but two of many ways you can generate new mortgage leads. If you’re one of the companies already invested in these methods, it’s high time you know how to find new purchase leads that will drive revenue.

Factors to Consider Before Getting New Purchase Mortgage Leads

Reputation – Find out the overall reputation of the lead company. Listen to word-of-mouth referrals or check in Facebook groups to know what the market thinks.

Lead Quality – All leads are not equal. For example, new purchase mortgage leads are the same as refinancing mortgage leads. These two require different approaches. After you’ve purchased the list, do your homework and pre-qualify them.

Search Criteria – Your lead search must begin with defining your ideal client’s profile. Ensure that the service that’s offering new purchase mortgage leads lets you filter these important profile details.

Exclusivity – You need to know if the mortgage leads company also sells the same leads to your competition. Such a list is of no good to you if they’ve already been closed or pitched by the competition.

Pricing – It is not cheap, getting quality new purchase mortgage leads. But they shouldn’t cost a fortune either. This is why you should work with companies within the boundaries of your budget. Know your limits in advance and endeavor not to exceed them.

About the Author: Adnan Nazir

Meet Adnan, the Vice President of Sales at Astoria Company, where he spearheads Astoria's lead exchange, pay per call, and the forging of new partnerships. With an extensive background spanning over 18 years in sales and marketing, Adnan brings a wealth of knowledge and expertise. Beyond the boardroom, Adnan finds solace and inspiration in the art of writing. He thrives in the fast-paced world of sales, where his knack for building relationships and strategic thinking propels him to success. Always eager to broaden his horizons, and revels in the opportunity to connect with new faces and discover fresh perspectives.