Mortgage lenders and brokers rely on mortgage leads -- potential customers who have expressed an interest in borrowing, and soon -- to keep their business humming. But demand for good real estate leads far outstrips supply. Internet mortgage lead generation, however, has streamlined the process, as thousands of potential customers click on Web links or fill in contact data in hopes of getting a competitive offer.
Getting the most, and best, mortgage leads for your lending operation is a matter of understanding the Internet mortgage lead business first. In this guide, you'll learn:
1. Best sources for mortgage leads.
2. Getting live real estate leads.
3. Internet mortgage lead generation for refinancing.
4. Going in local in your mortgage lead search.
Action Steps
The best contacts and resources to help you get it done
Take advantage of Internet mortgage lead generation
The Internet has really amped up the real estate lead generation business. Instead of waiting for prospects to call or come by a branch, mortgage leads come in through Web sites that offer rates or financial advice. These are, in turn, retailed by mortgage lead generation providers.
I recommend: Get Internet real estate leads from mortgage lead vendors including
Juicy Leads,
Live Lead Network,
NR Leads,
LendingTree, and
LoanWeb.
Speed up business with live Internet real estate leads
Your mortgage lead generation program can really get into high gear if you pay for live leads. Essentially, the mortgage lead provider also calls up the prospect, gets them ready for the conversation on borrowing, then patches the prospect directly to your waiting salesperson.
I recommend: Some providers of live mortgage leads include
LowerMyBills,
LiveMortgageLeads, and
TheLeadSource.
Harvest the market of refi mortgage leads
Some of the better real estate leads are current homeowners in the market to refinance in order to cash out equity or lower their term, payments or both. They are a better risk (they already own a home, for instance) and are typically ready to move on an offer soon without the encumbrance of finding and negotiating a home purchase.
I recommend: Buy refinance mortgage leads from database companies, including
iLeads,
ProspectZone and
FindMyLeads.
Go local for mortgage lead generation
If your mortgage lead generation program is giving you lots of mortgage leads in distant zip codes, part of the problem might be brand familiarity. Starting out, it might be better to focus on real estate lead generation in the geographic area of your mortgage lending business.
I recommend: Cityloans, for instance, parses potential Internet real estate leads by city and state, as does
TodayLeads.
Tips & Tactics
Helpful advice for making the most of this Guide
- Mortgages leads expire almost instantaneously. Be sure to pay only for fresh leads.
- If your first choice for real estate lead generation does not produce serious results, move on until you see success rates climb.
- Be sure your sales team is ready before paying for mortgage leads. Even good real estate leads can be wasted time with beginner sales people.
The official source of Mortgage Lead Generation is
the Mortgage Lead Generation page at Business.com
Subscribe to
Try our free weekly WhatWorks newsletter, with business how-to advice
& resources from Work.com.
Related Resources from Business.com
Comments
Is any content on this page inappropriate? To let us know, please 
