The emerging Colorado Mortgage Lead market

In the mortgage lead industry it is very important to do all of the necessary research before investing in a company. In this article I’m going to talk about some of the steps you as a lead buyer can take. Mortgage lead generators have a bad but well earned reputation in the industry. Here are some of the things you can do to minimize risking your marketing budget. This type of planning is expecially important if you are planning on working in one of the more expensive markets such as the California mortgage lead market or the Florida mortgage lead market.

Do the background work

It is very important to check up on the reputation the lead company. Some of the things you can do to get back ground information are; Perform searches on Google/Yahoo for the name of the mortgage lead generation service and its holders i.e. the CEO/President of the company. Some other good places to check are the Better Business Bureau website and the XXX website.

Get references

It is always important to ask for references from a potential mortgage lead provider. Talking to some of the other customers of the marketing firm will provide some unique insight into what type of company you are hiring.

Get a sample lead

While some mortgage lead generation services will be hesitant to provide a sample lead because one lead will not be very indicative of the closing percentages you will see over time. You often have to purchase a much larger amount of leads to get a good feel for the closing percentages you can expect from a company. However that said, a sample lead can provide some insight into the type of company you are going to be dealing with as well as familiarize yourself with the lead transfer system they are utilizing.

Read the fine print

Always make sure to read the lead contract carefully. Often a wily sales person will promise the world just to close the deal. You have to be very carefully that what the contract says lines up with what the salesperson has quoted you. Be especially careful in relation to live transfers. Make sure that delivery is guaranteed and that the lead brokerage cannot leave transfers on you answering machine. That could lead to you getting defrauded by just getting normal leads delivered to your answering machine. Another thing to watch out for is filters, if your loan officers cannot refinance commercial mortgage leads make sure they are not in you contract. State filters are also important if you can only receive California mortgage leads make sure that all that’s stated in the contract.

Some of the hot markets this week seem to be the California mortgage lead market and the Florida mortgage lead market.

In the coming weeks watch this blog for more tips on emerging mortgage industry trends and markets. We at wetleads.com pride ourselves at being on top of all the trends in the mortgage industry. Don’t forget if you have an account with us you can speak to a mortgage industry specialist about emerging profitable residential and commercial mortgage lead markets for no charge.

Please feel free to email me if you have any questions or comments about this post.

Krishna Khosla
CEO Wetleads.com
Wetleads.com
krishna@wetleads.com