Your Guide on How to Buy Exclusive Mortgage Leads

As a loan officer, you know the importance of quality leads when it comes to the success of your business. While you may already have a quality lead generation strategy in place, if you find your lead generation slowing down, you may be tempted to purchase mortgage leads from a variety of lead aggregating companies. While this is a popular option for many loan officers, it is important that you have a clear understanding of the leads you are buying before you commit. Are the leads you are buying exclusive or non-exclusive? What is the difference? Here we take a closer look at exclusive mortgage leads and why they are worth the extra expenses.

Key Takeaways

• Understand the difference between a non-exclusive and exclusive mortgage lead
• Explore the benefits of choosing exclusive mortgage leads
• Learn where and how to buy exclusive leads
• Explore various tips to help ensure you are buying the right leads for your business

What are exclusive mortgage leads?

Lead companies gather and collect information from borrowers looking for mortgage services. Once collected, these companies then sell these leads to loan officers. An exclusive lead is a high-quality lead that is only sold to one loan officer or company, meaning you have no competition when trying to win over the borrower. In contrast, a non-exclusive lead is sold to multiple loan officers, and it is up to you to try and win over a borrower that is being contacted by multiple loan officers. Because these leads are exclusive to your business, you can expect to pay a higher rate per lead.

Semi-exclusive leads

In addition to exclusive and non-exclusive leads, some companies offer semi-exclusive leads. These are similar to non-exclusive leads in that more than one loan officer can purchase the lead. In this case, however, the lead is only available for sale to 2-3 loan officers whereas a non-exclusive lead can be sold to many more. This makes them slightly cheaper than exclusive leads, but still more expensive than non-exclusive lead options.

Advantages of exclusive mortgage leads

Most mortgage brokers prefer to purchase exclusive leads as they are often more likely to convert to a closing. Here are three main reasons why exclusive leads prove beneficial for most loan officers.

Less competition

When purchasing an exclusive mortgage lead, you don’t have to worry about competing loan officers beating you to the initial contact. With non-exclusive leads, a borrower is often overwhelmed by multiple loan officers battling for their attention. In many cases, this can actually drive the potential client away. When you purchase an exclusive lead, you can initiate contact immediately and provide them with the information they request without having to apply pressure in order to stay ahead of the competition.

Increased control

How you deal with a client often depends on the competition. If a lead is hearing from multiple loan officers, you may be spending a lot of time trying to compete instead of providing the borrower with the real information and services they need. When you purchase an exclusive lead, you don’t have to worry about battling for attention and can instead focus on providing the quality services that the borrower deserves, putting you in better control of the situation.

Better relationship with clients

When you purchase an exclusive lead, you are the main contact in the mortgage industry for this new lead. This means that you have the ability to build, foster, and nurture a strong relationship with this new client. This allows you to establish a relationship, often before the borrower even begins looking for a home to purchase. In creating this relationship, you are likely to be remembered and draw potential referrals from this lead down the road.

Steps to buying mortgage leads

Buying leads is a process that, in many cases, is not open to everyone. As a loan officer, you will likely find you need to become a member or partner with one of the many companies that provide leads for purchase. Once there, you will need to inquire about their pricing system, the types of leads they offer, and minimum lead purchase requirements. You also want to inquire about how leads are delivered.

Where to buy quality mortgage leads

There are many different companies that offer mortgage leads for sale to loan officers. Here we take a closer look at some of the top companies, what features they offer, and reviews from other loan officers.

1. Lending Tree

LendingTree is a well-known and trusted brand in the mortgage industry and chances are your potential leads have already heard their name. In order to purchase leads from LendingTree, you need to join their network which gives you immediate access to lead purchases. When a borrower visits LendingTree and fills out a lead form, they are automatically forwarded to five loan officers in real-time, meaning these are semi-exclusive leads. Using a filter system, you can target specific audiences that you choose.

2. Zillow

Zillow is another well-known company in the mortgage lender and real estate industries. With Zillow’s mortgage marketing program, loan officers receive lead information from home loan borrowers looking to connect with local mortgage loan services. The cost for these leads depends on the loan amount, borrower credit score, and loan types, and they require a minimum initial deposit before sending you leads. To get started, you can call to speak directly with their team in order to learn how their services can benefit your business.

3. Trulia

Trulia is a part of the Zillow Group, so when you purchase mortgage leads from the Zillow Group, you are also accessing all of their partner brands, including Trulia.

4. Bankrate

With Bankrate, mortgage brokers only pay for leads after the consumer progresses through their funnel and provides the contact information. They guarantee qualified and engaging leads that are looking for mortgage services now and are likely to progress to closing. They utilize rate table advertising to bring in new leads and you have the option of cost-per-lead, cost-per-click, or cost-per-call structuring.

5. Best Rate Referrals

Whether you are looking for first-time homebuyer leads, mortgage refinances leads, or reverse mortgage leads, Best Rate Referrals has the lead options you are looking for. With their mortgage website MortgageAdvisor.com, they are able to connect qualified borrowers with lenders in their area. They work as an extension of your marketing team by putting your business needs first and generating the leads your business needs to achieve your business goals.

6. Lead Planet

Lead Planet is a mortgage lead generation company that offers exclusive mortgage leads for home purchases, refinancing, home equity, and many other mortgage services. They leverage both online and offline marketing strategies to gather leads. In addition to exclusive leads, Lead Planet also offers non-exclusive leads at reduced costs.

7. TransUnion

TransUnion is a major credit bureau that produces credit reports for consumers. With TransUnion’s mortgage lead generation, you are able to purchase qualified exclusive leads that have met your credit criteria. You are able to carefully filter your lead generation to deliver a targeted prescreen audience that provides the leads most likely to qualify and close.

8. Realtor.com

Realtor.com is one of the most well-known realtor sites in the United States Their ReadyConnect Live Buyer℠ provides mortgage businesses with live connections to motivated home buyers and homeowners. Their site processes millions of online real estate inquiries 7 days a week, every day of the year and you can instantly become connected to homebuyers through a live phone call transfer to buyers who are interested in getting pre-qualification from a lender. In addition, you are connected with real estate agents in your area to further build your referral network.

9. Loanbright

Loanbright has been a leading company in the mortgage lead industry for over 20 years. Founded by two loan officers, the goal of the company was to create a way to deliver leads to mortgage companies and that is just what they have done. With Loanbright, you are not purchasing individual leads but rather buying a Season Pass that provides access to the marketing engine and an unlimited number of leads. You can get started risk-free as they offer an unconditional money-back guarantee.

Things to consider before committing to buying leads

When considering which business to purchase mortgage leads from, there are a few things you need to consider.

The company you choose

Before you commit to purchasing leads, it is important to research the companies you are considering. What do online reviews say about the company? Do they offer exclusive, quality leads or multiple lead purchasing options? Do they generate their own leads or do they purchase leads from other lead-generation companies?

Types of leads you are looking to buy

While most loan officers opt for exclusive leads for their unique advantages mentioned above, there are other lead purchasing options to consider. For example, if you have a quality CRM in place, you may opt for the cheaper non-exclusive leads that, when entered into your CRM, are immediately sent a welcome email or trigger an immediate phone call as they enter your pipeline.

Your lead budget

Price is a major consideration for every part of your marketing strategy, and lead purchasing is no different. Determine what your lead purchasing budget is and compare that to the potential leads a company can generate each month for that price. Can they generate enough leads to make it worth your money? Will the type of leads you can afford justify their cost?

Quality vs quantity

While it may be tempting to purchase more leads for a reduced cost, you have to consider the type of leads you are purchasing. For example, 100 non-exclusive leads may be much less than the cost of 10 exclusive leads, but which set of leads are you more likely to convert to sales?

The company’s return policy

Inquire about a company’s return policy and what it means for you. If you receive bad leads, such as the contact information being incorrect, will they refund the cost of the leads?

The company’s customer service

Above all, you want to find a company that you are comfortable working with and that provides quality customer service to both you and the borrowers they are providing services for. Are they willing to answer your questions and work with you to determine the best lead purchasing options for your business?

Buying leads as a part of your lead generation strategy

As a loan officer, quality lead generation is essential for the success of your business. Whether your loan generation strategy is just not bringing in the leads you need or you are looking to further boost and enhance your current lead generation, purchasing leads can be a beneficial option. While you are likely to find the best results from exclusive leads, you may consider other options as well.

Let Good Vibe Squad make a difference

At Good Vibe Squad, we understand the importance of quality lead generation and how it contributes to the success of your business. Our Unfair Advantage program is designed to address the unique needs of the mortgage industry and help you significantly boost your lead generation. To learn more about how we can help you generate quality mortgage leads, book a strategy call today.

Your Guide on How to Buy Exclusive Mortgage Leads was first published to: https://goodvibesquad.com

Original post here: Your Guide on How to Buy Exclusive Mortgage Leads

A Modern Guide on How to Get High-Quality Mortgage Leads

Whether you are just starting out as a loan officer or have been in the mortgage industry for decades, chances are you know the importance of high-quality leads when it comes to your success. But why are leads so important, how do you generate quality mortgage leads, and should you purchase mortgage leads from outside providers? Here we offer a modern guide to high-quality mortgage lead generation and how you can get the leads you need to boost your business today.

Key Takeaways

• Understand what a quality mortgage lead is and why they are essential
• Explore different ways of generating mortgage leads
• Discuss the pros and cons of purchasing leads
• Learn different locations to purchase quality mortgage leads

What are mortgage leads?

Mortgage leads are a mortgage marketing term that refers to potential home buyers and homeowners looking for services, such as a new home loan or a mortgage refinance, from a mortgage lender or loan officer. In other words, mortgage leads are people interested in obtaining a new loan from you.

Why are leads important?

Mortgage leads are the people that, with nurturing, eventually become borrowers and close loans. It is these closed loans that you, as a loan officer, need to make your commissions and achieve business success. Without new mortgage leads, you have no business. For this reason, much of a loan officer’s day is focused on finding, nurturing, and converting these leads into customers.

How do mortgage officers find leads?

Mortgage loan officers can find and generate leads in a variety of different ways broken down into two main categories: Generation and Purchase. In this section, we will focus on lead generation performed by a loan officer in order to create a stream of regular leads. This can be accomplished in a variety of different ways, with a focus on digital marketing methods.

Social media

Social media platforms, such as Facebook, Twitter, LinkedIn, and many others offer an effective way to connect not only with your current clients but also with potential leads. On these social media platforms, you can share blog posts, create educational and informative posts, share links to industry news, and so much more. They are also a great way for leads to ask questions and get to know your business.

Content marketing

Potential leads are looking for a reason to trust you as a loan officer. A popular lead generation strategy that can help you do just that is content marketing. With content marketing, you are creating valuable, educational, free content on your website, blog, or social media platforms that helps provide a potential lead with the information they are looking for while also highlighting your industry expertise. The goal of any content marketing strategy is to educate and engage your audience.

Website

Your business website is an essential marketing tool that can play a major part in your lead-generation strategy. However, when it comes to your website, a poorly created site is not going to make the cut. When creating or editing your website, you want to ensure that it meets SEO optimization standards, is mobile-friendly, and contains lead generation forms that are directly linked to your CRM in order to best acquire and manage new leads. In addition, you can implement different landing pages on your website that target specific borrowers’ needs and concerns.

PPC advertising

Pay-per-click advertising can be highly effective for lead generation when done correctly. This advertising option is available on various social media platforms as well as through Google Ads. When creating pay-per-click ads, you want to focus your keywords on your specific target audience and even location. Keep in mind, however, that the more competitive your keywords are, the more expensive your ads will become.

Google Business Profile

For a loan officer or mortgage broker, local business is often your bread and butter, so you want to do everything you can to boost your local presence online. A good way to achieve this is through a free Google Business Profile. Creating this free business listing allows you to manage a business page that will be highlighted in local mortgage searches, as well as show your business on local Google Maps. This profile includes everything from your business phone number to your website URL, hours of operation, and location. Once created, having previous customers provide reviews through your business profile can further boost your rankings in the local search results.

Email marketing

Email marketing is another tool to help nurture leads once they have shown interest in your business through another avenue. For example, if a potential lead visits your website and fills out your online form requesting additional information, email marketing kicks in to welcome them and provide the information they are looking for. With a quality CRM in place, you are able to automate many aspects of your email marketing strategy. When a new lead provides information through your website form, it is automatically transferred into your CRM, which then triggers a task, such as automatically sending out a welcome email addressed to the user.

Should you buy mortgage leads?

Buying mortgage leads is another lead-generation option for loan officers. In this case, a loan officer relies on an outside company to acquire leads and provide the lead’s information to the loan officer after purchase. This option is often popular among loan officers struggling to generate their own leads or as a fill-in when organic lead generation is slow.

How to buy quality mortgage leads

Buying leads is relatively straightforward. A lead generation company has done all the legwork to gather mortgage leads and then sells them directly to loan officers for a price. The price of a lead depends on a variety of factors, and you should consider these different factors before purchasing any leads.

Non-exclusive leads

Non-exclusive leads are the most common and lowest-price lead options available. However, they can be sold to numerous loan officers, giving you a high level of competition when it comes to securing a new lead.

Semi-exclusive leads

Semi-exclusive leads are those that are sold to two or three different loan companies, meaning the faster you connect with the potential lead, the better chance you have of acquiring a new client. These can be effective if you have your CRM set up to automatically send a welcome email when the lead comes in.

Exclusive mortgage leads

Exclusive leads are sold only to one loan officer, meaning if you purchase these leads, you will be the only loan officer to contact the potential borrower from the lead provided. While these types of leads often offer a higher closing rate, they also come with a higher purchase cost.

Fresh leads vs. Aged leads

A fresh lead is a lead that comes in within the last 48 hours, such as a real-time lead. These are borrowers that were looking for information recently and are more likely to respond to you reaching out. Aged leads are leads over 48 hours old that the lead generation company did not sell right away. These leads are often cheaper, but there is a chance the borrower has already found another option.

Tips on how to buy quality mortgage leads

When deciding to purchase mortgage leads, there are a few tips to consider when choosing a lead generation company to purchase from that can include:

• Pricing: What is the per-lead price and what type of leads are you buying? Is there a purchase minimum? Is a deposit required?
• Lead generation: How does the company acquire its leads? Do they do their own lead generation or purchase from other lead generation companies?
• Return policy: Do they have a return policy for bad leads? For example, if the contact information provided is bad, do you get your money back?
• Quality of leads: While you may be able to purchase larger amounts of leads for a reduced price, is it really worth it? Are you better off buying a few selective leads that are more likely to close?
• Exclusive vs Non-exclusive: What type of leads are being offered?
• Choose leads: Many lead generation companies allow you to search through and manually pick leads from what they have available. This can allow you to target more specific leads.

Where to buy quality mortgage leads

There are many different companies out there that sell mortgage leads, with two of the main companies being Zillow and LendingTree. Many of these companies have been in business for generations and have a high recognition rate in the mortgage industry for both mortgage professionals and borrowers.

• Zillow
• Lending Tree
• Bankrate
• Best Rate Referrals
• Lead Planet
• Loanbright
• Inbound Prospect
• Realtor.com
• TransUnion
• Trulia
• The Lender’s Network

4 things to consider when buying leads

While the comprehensive list of mortgage lead companies above provides a great place to start, there are some factors to consider when choosing which company will provide the best leads for your business.

1. The company you are buying from

While you likely recognize the names of some of the companies above, it is still important to do your research when choosing which company is the best fit for your business. Read customer reviews to get a good idea of what borrowers think of the company. This can help you gauge the quality of the potential leads they will provide. Ask questions before you commit to any purchase. Are the leads fresh? Are they exclusive or non-exclusive? Can you choose your leads or are they provided at random?

2. Types of leads you want to buy

Before shopping for leads, it is important to determine which type of leads you want to buy. Can you stand above the local competition and win the business of non-exclusive leads in your area or would you prefer exclusive leads?

3. Your per-lead budget

Price is an essential component of any marketing strategy and that includes the purchase of leads. What is your budget? Will you be able to purchase enough quality leads within your budget? While your budget may go further in purchasing aged or non-exclusive leads, do you have the ability to nurture and convert those lead types to justify their cost?

4. A follow-up plan for the leads you receive

Before you commit to purchasing leads, you need to ensure you have the right plan in place to quickly provide contact to your new leads. Do you have a CRM in place that can send out a welcome email or trigger a task, such as a phone call, immediately after the lead enters your system? Do you have a plan in place to further the new lead relationship and keep them from moving on to the competition? Once these methods are in place, you are ready to add new leads.

Should you use a mortgage lead provider or generate your own

Deciding whether or not to buy leads or implement your own lead generation strategies depends on your business and your personal strengths and weaknesses. In most cases, a combination of both options can be beneficial. During times when your lead generation strategies may not be delivering the leads you need, purchasing selected leads may be a good option. However, if you have a quality lead generation strategy in place that is successfully driving leads to your business on a steady basis, purchasing leads may not be necessary.

High-quality lead generation is essential for success

Quality lead generation is essential for a loan officer’s success. Bringing in a steady stream of fresh leads, while nurturing your current lead relationships, will help drive more borrowers to the closing table. Deciding which method works best for your lead generation can take time and, in many cases, you may discover that your best option is a combination of organic lead generation and lead purchasing.

Good Vibe Squad can make a difference

At Good Vibe Squad, we know how important quality lead generation is for the mortgage industry. Our Unfair Advantage™ program caters to the unique needs of the mortgage industry and can help you significantly boost your lead generation. To learn more about how we can help, book a strategy call today.

The following blog post A Modern Guide on How to Get High-Quality Mortgage Leads was originally published on: https://goodvibesquad.com

Original post here: A Modern Guide on How to Get High-Quality Mortgage Leads

8 Best Mortgage Lead Providers

As a mortgage loan officer, you know that generating quality leads is essential to the success of your business. At the same time, you also know how difficult lead generation can be, especially for new loan officers just starting out. Finding quality mortgage leads can be difficult for even the most seasoned loan officers, and, because of these challenges, many successful loan officers turn to mortgage lead generation specialists in order to help ensure a steady stream of quality leads. But how do you know which lead generation company is best for you? Here we take a closer look at what lead generation companies do, how they can benefit your business, and evaluate some of the top active companies.

Key Takeaways

• Understand how lead generation providers gain quality leads
• Learn how to find the best lead generation company for your business
• Explore some of the top lead-generation providers

How do lead generation companies work?

Lead generation companies specialize in generating leads that they can then sell to a business wishing to purchase leads. In today’s digital arena, these companies often use multiple optimized websites and social media platforms to attract borrowers looking for a new home loan or homeowners looking for mortgage refinancing. Each of these platforms offers standard online forms to gather information from the user which is then passed on to mortgage companies looking to purchase leads.

In addition, some lead generation companies also take advantage of phone traffic that comes in from published phone numbers. When these leads call in, the lead generation companies can either collect the user’s information and pass it on to a mortgage company purchasing leads or directly transfer the user to the loan officer directly.

Lead generation companies can also work directly with loan officers to help develop their own lead generation strategy to bring in leads. They help you analyze your target market, develop targeted lead-generation strategies, and leverage specific digital marketing techniques that allow you to generate your own qualified leads.

Top mortgage lead providers

When it comes to using a lead generation provider, chances are you have heard stories of companies selling poor-quality leads, leaving loan officers out of money with no leads. While this is not uncommon, there are reputable companies that offer qualified mortgage leads that can truly boost your business. Here we take a look at 10 of the top mortgage lead providers.

1. Good Vibe Squad

Good Vibe Squad is a lead generation service that works exclusively with mortgage loan officers, so they understand the specific needs of the industry. They offer a comprehensive Done-For-You fractional CMO service that essentially takes over your existing marketing strategy and implements a proven process for lead generation. They provide you with system training, sales training, phone scripts, and more in order to generate the leads your business needs.

Features

• Done-for-you fractional CMO system
• Qualified lead generation
• Effective advertising strategies
• High-performance coaching
• Access their mastermind community

“I just started the program and was drawn to give them my business because of their honesty, approach, and being super transparent. Their organization obviously enjoys working together, and it shows. GVS has a great attitude and there was never any push to join. I can't wait to see the proven results they stand behind. They are marketing geniuses, everything they use is super clean, definitely stands apart.”

Google Reviews

2. Loanbright

Founded by retired loan officers, Loanbright has been an industry leader in mortgage lead solutions for over 20 years. Loanbright runs a powerful advertising and marketing engine that draws in new qualified leads every day. As a client, you can log into their system and choose the leads best matched for your business. You pay for leads monthly and they require no long-term commitments.

Features

• Real-time lead displays
• Focused local leads
• No long-term commitment

“I have worked with Loan Bright since 2010. I've had 2 different account reps and both Regina and Chris are great. The leads are pretty standard internet-generated shared leads but they are priced right and have a good return policy so you aren't paying for bad data. I definitely recommend Loan bright to Loan Officers looking to increase their production.”

Google Reviews

3. LeadPops

LeadPops offers a slightly different lead generation service that not only focuses on lead generation but also on every stage of your sales pipeline. The goal of this method is to not only focus on quality lead generation but also ensure that every lead brought in receives the attention and nurturing they need in order to convert.

Features

• Conversion Pro Website™
• Local SEO
• Digital advertising
• A partnered success coach
• Conversion funnels
• Integration with your current CRM

“Lindsay and the entire team has been great to work with at LeadPops!! They were very efficient in getting my site launched, and setting up all of the funnels. I highly recommend working with them for your lead capture and lead prospecting systems.”

Google Reviews

4. Chime Solution Suite

Chime Solution Suite is a robust CRM system that provides the tools necessary for loan officers to generate and nurture new leads through targeted multichannel online advertising services. When these ads attract new leads, they are directed to a form where they provide contact information that is sent directly to your CRM that, in turn, sends out a welcome email, initiating new lead contact immediately.

Features

• Robust mortgage industry CRM
• Multichannel online advertising service
• Automated lead nurturing program

“Chime has a user-friendly interface. It makes lead generation and follow-up easy. It also helps make you efficient with your time with the AI that tells you who you should be calling. It has so many features rolled into one CRM. It also has the sleekest property alert emails, which helps with our leads coming back to the website more frequently.”

Google Reviews

5. Top of Mind/Black Knight

While not technically a lead generation company, Top of Mind, owned by Black Knight offers its Surefire CRM as a powerful mortgage marketing solution that can help you generate your own leads. The combination of lead generation and integration into a powerful CRM helps to accelerate your current mortgage marketing strategies and boost lead generation.

Features

• Surefire CRM
• Power Messaging
• Power Calls
• Data management
• Personalized training

“Surefire CRM makes it easy to stay "Top of Mind" with your clients, prospects, referral partners, and more. It truly builds relationships. They have a built-in library of marketing emails and flyers, which is amazing; you basically don't need to do any work because the SureFire CRM does it for you.”

Google Reviews

6. Mortgage Growth System

The team at Mortgage Growth System helps lenders boost their lead generation and business growth through a combination of quality lead generation strategies, cutting-edge technology, trained telemarketers, and personalized coaching. They promote the fact that they generate leads for your business as opposed to selling leads, giving you a better return on your investment.

Features

• Weekly Zoom calls with
• Momentum Coaching each week
• Lead quality guarantees
• Ability to automatically segment leads based on qualification ability
• Optional appointment setters to handle booking new lead appointments
• Pre-approval guarantees
• Month-to-month options

“If your looking to generate leads, Mortgage Growth Systems is a great system to implement! Brandon is very helpful and patient with our questions. Would recommend this company any day!”

Google Reviews

7. LeadPress

LeadPress does not offer lead generation but instead helps you create a lead generation website that actually works to bring in leads. With specific lead generation tools, such as lead capture forms, LeadPress creates search engine and mobile-friendly sites designed to increase lead generation and conversion.

Features

• Fully designed, managed, and hosted websites designed for lead generation
• Websites optimization for your target audience
• Integrated Google Analytics to allow for tracking
• Lead generation tools such as optimized landing pages, lead capture forms, and conversion funnels

8. Mortgage Leads Direct

Mortgage Leads Direct is a part of the Leads Direct Network providing fresh new leads to a variety of different industries. Leads are posted 24 hours a day, 7 days a week in real-time. You are able to browse leads as they come in a pick and choose the leads you want. Mortgage Leads Direct pricing is based on a tiered structure dependent on the age of the lead. Leads begin at a base price at acquisition and are discounted in price the longer they are within the system, with prices ranging from $6.50 to $0.30 per lead.

Features

• Leads available in real-time, as well as seasoned leads at a reduced cost
• No long-term commitments
• Sign up and lead browsing is free

Comparison Table

Lead Generation Company	Features	Pricing	User Reviews
Good Vibe Squad	Done-for-you fractional CMO system | Qualified lead generation | Effective advertising strategies | High-performance coaching | Access their mastermind community	Pricing determined based on your business needs	4.9 stars based on 63 Google Reviews
Loanbright	Real-time lead displays | Focused local leads | No long-term commitment	Offers a risk-free trial, with average monthly minimums of around $200	3.9 stars based on 16 Google reviews
LeadPops	Conversion Pro Website™ | Local SEO | Digital advertising | A partnered success coach | Conversion funnels | Integration with your current CRM	Prices start at $97/month based on the plan chosen	4.9 stars based on 739 Google reviews
Chime Solution Suite	Robust mortgage industry CRM | Multichannel online advertising service | Automated lead nurturing program	Pricing determined based on your business needs	4.5 stars based on 90 G2 Reviews
Top of Mind	Surefire CRM | Power Messaging | Power Calls | Data management | Personalized training	Pricing determined based on your business needs	4.3 stars based on 17 G2 reviews
Mortgage Growth System	Weekly Zoom calls with Momentum Coaching each week | Lead quality guarantees | Ability to automatically segment leads based on qualification ability | Optional appointment setters to handle booking new lead appointments Pre-approval guarantees Month-to-month options	Pricing determined based on your business needs	5.0 stars based on 2 Google reviews
LeadPress	Fully designed, managed, and hosted websites designed for lead generation | Website optimization for your target audience | Integrated Google Analytics to allow for tracking | Lead generation tools such as optimized landing pages, lead capture forms, and conversion funnels	Pricing starts at $78	No current reviews are available
Mortgage Leads Direct	Leads available in real-time, as well as seasoned leads at a reduced cost | No long-term commitments | Sign up and lead browsing is free	Prices range from $0.30 to $6.50 per lead	No current reviews are available

Choosing the best lead generation company

Not all mortgage lead generation companies are created equally, so you will need to consider numerous factors when choosing the right company for your business. To start, are you looking to purchase leads outright or are you looking for lead generation companies that will help you generate the leads your business needs? If you are purchasing leads from a lead generation company, consider asking these questions:

• Do they work on a cost-per-lead, or do they charge commissions on leads that convert?
• Are leads sold at a fixed price?
• Is there a minimum order size?
• Is there a refund policy for poor-quality leads?
• Are leads delivered in real-time?
• Do they provide exclusive mortgage leads?
• Is lead generation compliant with GDPR and FCA regulations?

If you are looking for a lead generation marketing company that will help you generate the leads your business needs, consider these questions:

• Does the agency specialize in mortgage lead generation?
• Do they offer a trial period where you can evaluate the success of their lead generation model?
• Do they offer case studies that show their success in the mortgage business, including conversion rates?
• Do they offer websites, CRMs, social media marketing strategies, or additional options?

Should you use a mortgage lead provider or generate your own?

As a loan officer or loan originator, generating leads is essential for your business. When it comes to leads, you must decide whether you want to buy mortgage leads directly or invest in the tools to generate your own mortgage leads. While purchasing leads may seem like the easier solution, keep in mind that when you stop paying for leads, you likely will not have any new leads coming in. Choosing a company that gives you the tools to drive leads to your business helps to ensure that you have a continuous stream of leads coming in.

Quality lead generation is essential for success

Generating quality leads is essential for any successful loan officer and finding the right lead-generation company for your business can make all the difference in your success. When choosing the right mortgage lead provider for your business, focus on finding a company that works well with you, offers the best quality lead generation options, and fits within your budget.

Let us help boost your lead generation efforts

At Good Vibe Squad, we understand how vital quality lead generation is to loan officers in the mortgage industry. Our Unfair Advantage program provides you with a complete system designed to generate high-quality leads on a regular basis, allowing you to shift your focus to closing! To learn more about how our team can help your business grow, book a strategy call today.

8 Best Mortgage Lead Providers is available on: https://goodvibesquad.com

Original post here: 8 Best Mortgage Lead Providers

15 Mortgage Sales Tips to Help You Close More Loans

Whether you are an entry-level mortgage loan officer or have years of experience working as a mortgage broker in the mortgage industry, closing more loans is your ultimate goal. The mortgage industry is highly competitive, and you need to create mortgage sales strategies that help you rise above the competition, gaining the trust of borrowers and homebuyers. While you may already have an effective mortgage sales strategy in place, these mortgage sales tips can help boost your sales process and closings.

Key Takeaways

• Understand the importance of building trust and relationships with potential clients
• Learn new tips to help boost your mortgage sales and closings

How to close more mortgage loans

The mortgage industry is highly competitive and, while there is never a shortage of homebuyers and borrowers looking for the right loan, you need to develop strong mortgage sales techniques in order to stay ahead of your competition. In order to do this, it is essential to create a personal experience for your buyers that fosters a strong relationship based on trust and expertise. Here we look at some top mortgage sales techniques that can help you rise above the competition and close more deals.

1. Provide value to homebuyers and borrowers

When you first connect with new contacts, you don’t want to begin the relationship by begging them to choose you as their lender for their home loan. Instead, you want to offer value to all your prospective clients. But how do you offer value? By sharing your industry knowledge, helping them understand the mortgage process, or showing that you understand their specific situation, you provide a valuable resource while making yourself an indispensable part of their buying process.

2. Understand your borrowers and local market

Successfully closing loans has a lot to do with understanding each borrower’s unique financial situation and risk, while also having a deep understanding of your current housing market conditions. When you have a clear picture of both, it makes it easier to determine a borrower’s mortgage risk when it comes to approval.

3. Establish yourself as a mortgage industry expert

Buying a new home is a huge commitment for borrowers. When choosing a loan officer, they want to know that the person they choose is an industry expert and knows what they are talking about. Establishing yourself as a mortgage industry expert highlights your knowledge and offers a piece of mind to new leads and clients. Offering regular blog content on industry topics, providing educational classes for homeowners, or even sharing a monthly mortgage industry newsletter can help offer valuable information while highlighting your extensive knowledge.

4. Continue to grow your mortgage industry knowledge

The mortgage industry is always changing and, as an industry expert, it is important that you stay on top of current changes. Taking continuing education classes or attending trade seminars is a great way to continue learning. In addition, other aspects of your business can change as well. For example, marketing strategies come and go. Staying on top of current trends and changes can provide an additional boost to your lead generation, customer engagement, and closings.

5. Strive to exceed expectations

When working with clients, be sure to only promise what you KNOW you can deliver. By keeping expectations and promises realistic, you are often able to exceed these expectations and impress your clients in the long run, often boosting your closing percentages as well as your referrals.

6. Use social media to your advantage

While managing multiple social media platforms, such as Facebook, Twitter, and LinkedIn, may seem overwhelming, the fact is if you aren’t taking advantage of social media, then you are missing out. Regular engagement through posts, videos, and direct replies to comments on social media platforms is a great way to engage with potential borrowers and reach new homebuyers. In addition, you can take advantage of many social media paid marketing opportunities to further extend your social media reach. Once in place, many of these tasks can be automated with the right programs.

7. Make connections with realtors and real estate agents

Connecting with other professionals in your industry is a great way to gain knowledge that you can share with potential clients to help them better understand the home-buying process. Building professional relationships with real estate agents, home inspectors, and other professionals in the mortgage industry opens up the doors to referrals, lead generation, and more closings in the long run.

8. Understand and respect your client’s schedule

While your office hours may follow a traditional 9 to 5 schedule, you have to understand that many of your clients work that same schedule, making face-to-face meetings or phone calls difficult. In this case, it is important to think outside of the box. This can mean creating video messages to send for them to watch on their own time or creating an open schedule throughout the week that provides open hours for all your clients. This flexibility provides an added benefit to choosing you over your competition.

9. Grow your team

As an independent mortgage loan originator, it can be overwhelming to try and manage marketing strategies, networking, meeting with clients, and closing. It may seem impossible to focus on improving closing rates when you are being pulled in every direction. For many, marketing alone feels like a full-time job. In this situation, it may be beneficial to your business development to consider creating or expanding your team and hiring an assistant, marketing specialist, or an entire sales team that can take over those aspects of your business while allowing you to focus on customer relationships and closings.

10. Take advantage of automation

If an assistant is not an option, consider implementing a quality CRM that allows you to automate many of your different daily tasks, such as email campaigns, social media engagement, website management, and document collection, just to name a few. Automation allows mortgage lenders to become more productive in many ways without taking away time and focus from their clients.

11. Increase potential touchpoints

Increasing routine touchpoints, or the connections you make with potential clients, can also help boost your closing rate. Purchasing a home and acquiring a mortgage is a major step and borrowers are often unlikely to jump into a mortgage without first knowing and trusting a loan officer. Increasing customer touchpoints, such as phone calls, emails, and face-to-face meetings, can help to build a relationship and, in the long run, improve loan closure times.

12. Boost your sales processing speeds

Unfortunately, one of the biggest contributing factors to unsuccessful closings is speed. Whether the buyer got cold feet during the waiting process, or the loan origination process was simply moving at a snail’s past, the closing falls through. While carrying out due diligence is still a priority, being able to offer a quick loan application with quicker origination, faster underwriting, quicker loan approval, and speedier closing times is essential to boosting your closing rate.

13. Commit to regular follow-ups

Failure to follow up is often a factor in increasing closing times or causing a closing to fail. If you have not received a response from a client in a timely manner, don’t be afraid to reach out and follow up. Life happens, they may be busy, and things like sending a document through may have slipped their mind. Never ignore the lack of response and let it sit. If a client isn’t answering a phone call, send an email that might be easier for them to respond to.

14. Be proactive and not reactive

Being proactive when it comes to loan closings gives you an advantage. It is much easier to anticipate and address potential problems than to address a problem after the fact. For example, it is often to gain a comprehensive understanding of a borrower’s financial situation and approval chance before having them fill out an application that will undoubtedly not receive approval. Instead, you can offer information on repairing credit or becoming better qualified, and then they can return when they are more likely to be able to close. Keep in mind that even if they aren’t closing, you want to keep in contact so when they are ready, they choose you.

15. Focus on the borrowers and pre-qualification and approval

If you are working with a potential homebuyer that is just starting to look for a home, it may be beneficial to suggest a pre-approval mortgage to make the process easier. While a pre-qualification may be enough, the additional qualification process can make the home-buying process easier by giving the borrower a clear idea of their home amount and speeding up the closing process.

Loan closing for success

When it comes to a successful closing, it all boils down to your clients. Making them the top priority of your mortgage business and following these tips can help ensure that you are meeting your borrower’s needs, doing all you can to make the sales process easier, and boosting your closing rates.

More closings start with quality leads

At Good Vibe Squad, we understand that in order to boost your closing rates, you need a steady stream of new leads each and every month. As we mentioned above, traditional marketing for those leads can take away your focus from building relationships and closings, so we are here to help. Our Unfair Advantage™ program helps show you how to effectively boost your lead generation and, in turn, increase your closing rates. To learn more, book a strategy call today.

15 Mortgage Sales Tips to Help You Close More Loans was first published on: https://goodvibesquad.com

Original post here: 15 Mortgage Sales Tips to Help You Close More Loans

Mortgage Email Marketing Guide: 10 Tips to a Successful Email Campaign

In today’s digital world, where more and more people gain access to the internet, email communication is quickly becoming the norm. The number of emails sent per day has been rapidly increasing since 2017, with Statista reporting an estimated 320 billion emails sent per day in 2021 and that number is predicted to jump to over 376 billion by 2025. Based on these numbers, as a loan officer, it is essential to include mortgage email marketing in your overall marketing strategy. Here we take a deep dive into mortgage email marketing, how it can benefit your bottom line, and some tips for creating a successful marketing campaign.

Key Takeaways

• Learn what mortgage email marketing is and the different types of email campaigns
• Understand how mortgage email marketing can benefit your business
• Explore various email marketing tips that can help you develop a successful email marketing campaign

What is mortgage email marketing?

Mortgage email marketing is a digital marketing strategy that provides a way for loan officers and mortgage brokers to engage with their target audience, current clients, and real estate referral partners to build a relationship. Email marketing can include a variety of options that allow a loan officer to educate potential borrowers, provide updates on the current mortgage process, and help keep your name out in front of potential borrowers regularly. Remaining on the mind of clients helps to maintain a relationship and earn repeat and referral business.

Benefits of mortgage email marketing

Email marketing, when done correctly, can be a powerful tool to help you grow your business. An effective email marketing strategy can provide a wealth of benefits that we explore here.

1. Provides a higher ROI

As you develop a marketing strategy, your goal is to find strategies that provide the best return on your investment, or the highest ROI. Experian reports that email marketing has an average ROI between $5 and $51 for every $1 spent. Implementing an email marketing strategy allows you to keep your marketing costs within budget while receiving a beneficial return.

2. Allows you to engage with your contacts

Unlike other marketing strategies, such as social media engagement, email marketing allows you to send a message directly to a contact, giving them the ability to directly engage with you on their timeframe. While you may think many of your prospects simply delete your email campaigns without ever opening them, the fact is open rates for email campaigns can be as high as 40%, giving you the ability to directly connect with your contacts.

3. Allows you to track results

One of the biggest benefits of email marketing is the ability to track its effectiveness, especially when using a quality CRM. From the moment you send out an email campaign, you can see how many emails are delivered and opened, what links within the email are clicked through, and even if the email was forwarded to additional prospective clients. With this ability, you can adjust components within your email campaign to increase your open and click-through rates.

4. Expand your overall reach potential

While your current leads and contact list may limit the reach of your direct email marketing potential, the fact is, email marketing makes it easy for your contacts to forward emails to their contacts if they feel it may be beneficial. This opens up the possibility of further expanding your overall reach.

5. Create custom and personal content

By including contact data within your email marketing campaigns, you can create custom content that helps connect you to your contact, builds trust, and further helps to foster a beneficial relationship that helps to move your prospect through your sales funnel. With email marketing, you can personalize every aspect of your campaign, such as personalized copy, imagery, targeted offers, recommendations, and much more.

6. Stay top of mind with your clients

As a loan officer, the goal of every marketing campaign is to help build a relationship with your leads and clients. Email marketing provides an accessible and affordable marketing option that allows you to make and nurture your connections regularly, keeping you and your business in the mind of your clients.

Types of mortgage emails

When it comes to mortgage email marketing campaigns, the opportunities are endless. You are not locked into traditional marketing ideas and marketing platforms and the type and content within each email campaign can vary greatly. Here we look at some of the top email campaign ideas for loan officers and the mortgage industry.

Newsletters

Sharing a regular newsletter, such as bi-weekly or monthly, allows you to inform and educate clients on mortgage industry changes, as well as changes within your company. Creating a consistent newsletter schedule lets your customers know they can expect a stable connection with you and your business.

Check-in email

A check-in email is a way for you to follow up with clients and contacts you may not have talked with in some time. The idea of this type of email is to let your prospects know that you are thinking of them and would love to connect and see how you can help them meet their mortgage goals.

Application updates

Marketing automation allows you to send emails throughout the application and loan process and is a great way to keep homebuyers updated throughout the mortgage process while also staying in regular contact. With automation, emails can be automatically sent out to customers when specific milestones in the process are reached.

Community news

In the mortgage industry, the community is an important factor. Whether you are sharing new housing developments in your community, a new business opening, or community activities you are a part of, sending out a community news email regularly allows you to connect with your contacts while showing them that the local community is important to you as well.

Industry news

The mortgage industry is constantly changing and can often be overwhelming to borrowers and homebuyers. Creating a mortgage industry news email campaign provides you with a chance to educate your current and potential clients and referral realtors about changes that may be occurring while also highlighting your knowledge and expertise in the industry.

Event invitation

An event invitation email can be used for a variety of different occasions. For example, maybe you are co-hosting an open house with referral real estate agents, teaching a course on repairing credit, or participating in a community event.

Holiday emails

The holidays are a great time to connect with potential, current, and previous contacts. Simply sending out a holiday email wishing them the best during the holiday season shows that they are important to you and your business and further work to build or maintain a positive relationship.

Mortgage drip campaigns

Regular mortgage drip campaigns create a steady flow of regular marketing content for your business. Creating emails that focus on a specific topic, such as credit repair, can provide current and potential clients with important information and can encourage engagement.

10 Tips for an Effective Mortgage Email Marketing Campaign

Once you understand how mortgage email marketing can benefit your business, it is essential to understand how to create an effective marketing campaign. The following tips can help ensure you create a collection of campaigns that can effectively work for you.

1. Maintain a current contact database: A quality email is ineffective if your intended reader never receives it. Make sure you have current emails for all your leads and clients.
2. Know your campaign goals: When creating an email marketing campaign, it is essential to understand exactly what you want your campaign to achieve.
3. Create a strong subject line: The first thing a reader sees with an email is the subject line, so you want to make sure you create a subject that draws them in and encourages engagement. Keep the subject line to 65 characters or less to ensure the entire text is seen.
4. Always include a strong CTA: When you know your email campaign goal, be sure to include a strong call to action that includes that goal.
5. Don’t rely on images: Many email programs are set with a default not to display images automatically, meaning many readers may not see your intended image.
6. Keep your message short and sweet: Time is money and many prospective clients and leads don’t have time for lengthy emails. Keep your content short and direct.
7. Eliminate industry jargon: When creating email content, avoid the use of industry jargon and acronyms that may be confusing to the average borrower. Focus on basic communication and connecting with your contacts.
8. Keep it mobile-friendly: A good number of readers access their email on a mobile device, so keeping your content optimized for mobile viewing is essential.
9. Consider timing: When you send your email is just as important as the content it includes. For example, emails sent on Monday morning or Friday afternoon are less likely to be read than emails sent during the week. Think about your target audience and determine the best timing for scheduled email campaigns.
10. Track your success: The most important step of an email marketing campaign is tracking. By checking out the open rate and click-through rate, for example, you can see what is working and what isn’t and adjust your future campaigns based on that information.

Make the most out of email marketing

When email marketing is done correctly, it can quickly become one of your most effective marketing tools. Taking advantage of the many different email options at your disposal allows you to better connect and engage with your leads and clients. Following these basic tips will help you create an email campaign that will help foster strong relationships that help boost your bottom line.

Drive more leads with us

A steady stream of new leads and contacts is essential to get the most out of your email marketing campaign. At Good Vibe Squad, we understand that mortgage loan officers need quality lead generation and our Unfair Advantage™ program is here to help you create the lead generation you need to achieve your goals. To learn more about how our program can help, book a strategy call today.

Mortgage Email Marketing Guide: 10 Tips to a Successful Email Campaign is republished from: https://www.goodvibesquad.com/

Original post here: Mortgage Email Marketing Guide: 10 Tips to a Successful Email Campaign

Credit Repair Sales Funnel: Lead Generation with Bad Credit Leads

As a mortgage loan officer with a lead generation strategy in place, chances are you receive many applications each and every month. Thinking about those applications, how many have you received this month from borrowers who do not qualify due to bad credit? How do you handle these prospective clients? While many loan officers simply refer them to credit repair and hope they return when their credit improves, the fact is this method is likely to lose you these potential clients. Instead of sending them on their way, your business and lead generation can receive a substantial boost with credit repair lead generation and the creation of a credit repair sales funnel.

Key Takeaways

• Understand what a credit repair sales funnel is
• Explore how to work with potential clients and credit repair agencies to create a qualified borrower
• Learn how to create a credit repair sales funnel and how it can help boost your lead generation

What is a sales funnel?

A sales funnel is a visual representation of the journey potential borrowers follow through the buying process. This sales funnel helps you understand every stage of the buying process and what your customers are thinking at every stage. This allows you to see where clients fall out of your sales funnel and what marketing actions you can take to help them continue through the funnel and reach closing.

How to handle prospects with bad credit

In the mortgage industry, many borrowers fall through a sales funnel during the application process because of poor credit. If a borrower does not qualify for a mortgage because of poor credit history, many loan officers simply inform them that their credit needs work in order to qualify and send them on their way. Unfortunately, this is a missed opportunity and can cost you many potential buyers in the long run. When a borrower fails qualification due to poor credit, it is time for you, as a loan officer, to shift them into a credit repair sales funnel and make them aware that you want to work with them to help them achieve home ownership. In order to do this effectively, there are some additional steps you need to have in place.

Creating a credit repair sales funnel

Similar to a traditional sales funnel, a credit repair sales funnel follows clients with credit challenges through the steps of credit repair. In many cases, borrowers know they need to improve their credit but are overwhelmed or unsure of how to fix their credit report, and, in this case, many just give up. When this happens, you lose a potential client. Even if they do repair their credit eventually, they likely won’t remember your name and will move on to a new loan officer.

But that doesn’t have to happen. Creating a credit repair sales funnel allows you to monitor the actions of your potential client and walk them through the steps necessary to take them through the standard sales funnel. Instead of simply informing those that do not qualify that they need to repair their credit, you create a credit repair sales funnel that moves them through credit repair with your help. When a client is denied a loan for poor credit, there are some immediate steps you can take:

• Review the credit report together: Take the time to go over the client’s credit report with them, highlighting what needs to improve. Provide education on how your client can do this.
• Highlight late debts and old debts: Inform potential clients to start paying off old debts and ensure that all current debts are brought and remain current.
• Evaluate credit card debt: Credit card utilization makes a big impact on credit scores. Advise clients to pay down credit card debt, ideally bringing utilization to under 10%.
• Remove late payment reports: Explain how clients can call creditors and ask for a “goodwill deletion” when it comes to late payment reports.
• Refer to a credit repair company: If your clients are overwhelmed, consider referring them to a partnered credit repair company. Learn more about this below.

Tips to boost your lead generation and income with credit repair sales funnel

In many cases, despite going over a borrower’s credit report and offering tips to repair it, many borrowers are still lost. If this is the case, the next step in your credit repair sales funnel is to point them to a credit repair company that specializes in repairing negative credit. However, it is still important that you play an active role in order to continue following their progress.

1. Partner with a credit repair company that supports you

Chances are you don’t have the time or the experience to walk every potential client through credit repair. However, partnering with a credit repair agency that will work with your potential clients toward the goal of qualifying and closing on a mortgage is the perfect solution. By working together, you can refer ALL your potential clients for credit repair that provides cobranded customer communications with the explicit goal of qualifying for a home loan. In many cases, the credit repair company can also provide you with a portal that allows you to follow the progress of your potential clients. This partnership not only boosts the sales for the credit repair company but will enable you to help and move potential clients through the funnel, eventually leading to a sale down the road.

2. Follow up with credit repair clients

If your clients sign up with your credit repair company, place them into your credit repair sales funnel. Once in place, it is important that you stay in touch with these clients on a regular basis. As your clients are actively working to repair their credit, it is important that you reach out to them personally to check on their progress. As long as they actively continue to repair their credit, they will eventually become a closing client for your business at some point.

Credit repair leads can be beneficial

In order to understand the importance of creating a credit repair sales funnel, take a look at your average lead generation each month through sources such as your website. How many of those leads don’t credit qualify for a mortgage? Imagine if you had a successful credit repair sales funnel in place that, on the conservative side, converted even half of those leads into sales within a year. How much of a boost would those additional sales add to your production rate? Instead of losing these potential sales, take the steps to ensure you have future sales down the road.

We can help boost overall lead generation

Whether you have a credit repair sales funnel in place or are working to start one, steady lead generation is necessary for the success of any loan officer. At Good Vibe Squad, we understand that many loan officers need help with creating a steady stream of leads. Our Unfair Advantage™ program is designed to help you boost your lead generation and create a steady stream of leads for both your general sales funnel as well as a credit repair sales funnel. To learn more about how we can help boost your monthly lead generation, book a strategy call today.

The post Credit Repair Sales Funnel: Lead Generation with Bad Credit Leads is republished from: https://www.goodvibesquad.com/

Original post here: Credit Repair Sales Funnel: Lead Generation with Bad Credit Leads