Have you ever heard a mortgage broker complain about how hard it is to generate leads online? You probably have.
There’s a common misconception in the world of mortgage brokers that internet leads are highly competitive and expensive. This may be true for some lead generation tactics. But it’s not true for all.
Today, you can buy mortgage leads online at a good cost and save money in the long run. It’s not fiction—it’s just a smarter way to do business.
Learn more about the key reasons to buy mortgage leads online this year.
- Save Money
Are you paying for traffic, clicks, and conversions? For marketing strategies that bring you traffic but not sales?
When you buy mortgage leads online, you could get better value for your money. You could attract not just people who think about getting a mortgage, but those who have already decided that they will buy a mortgage within the next few months and are currently searching for the best offer available.
You may also reach those who have signed a purchase agreement but whose mortgage deal collapsed and who need to find an alternative—and do it fast!
It may seem counterintuitive, but sometimes, to save money, you have to spend money.
If you’ve had your fair share of traffic and clicks that never seem to convert into actual customers, buying leads it’s something you may want to try.
- Generate Leads When You Need Them
Is your team constantly alternating between running full tilt to keep up with warm leads and having nothing to do, just waiting for new leads to materialize?
Even if the lead generation strategies you are currently using are effective, they may create ebbs and flows in your workflow. And these are not necessarily pleasant—or healthy for your business.
Unlike other lead generation strategies, buying leads gives you control over your time. It gives you the freedom to work at a pace that is healthy for your team.
You can buy mortgage leads online when you need them, and only then.
Maintaining balance in your workflow is healthy for your business. It enables you to focus on each customer to ensure that you’re providing the best service possible.
- Choose Your Leads
Leads are not equal, and you’ve probably experienced this first-hand more than once. A lead may seem exciting until you realize that their credit score is poor, that they don’t have a down payment, that their yearly income is low, or that they’ve faced a bankruptcy or two in the past.
The trouble is, with many lead generation strategies, you don’t have access to that kind of information about your leads until after you’ve paid the money to attract them.
Put another way, false leads can pass through your lead filtering system. They can cost you time and money and lead to disappointment.
When you buy mortgage leads online, you can preselect only leads that match your client criteria. That means you save time on setting up campaigns and money on undesired clients. And, of course, you also improve your ROI.
Take LeadsFilter, for example. With LeadsFilter, you can filter your leads more effectively based on their financial standing and their desired loan amount. This includes credit score, loan amount, yearly income, loan type, and purchase location.
You get to choose only between relevant leads. No time wasted. No disappointments.
- Get Exclusive Leads with Less Competition
Having to fight with other mortgage brokers over leads you’ve already spent money on discovering isn’t much fun. Yet it happens often.
Standard lead generation tactics like ads can bring you leads. But most of the time, you have to share those leads with many other mortgage brokers.
While you’re spending time to find the best offer for a new lead, a couple of other brokers could be doing the same. And if they happen to have a head start over you…
This situation draws attention to another reason why you may want to buy mortgage leads. You can buy exclusive leads and focus all your efforts into converting them into your clients.
Exclusive leads are not as competitive—you won’t be sharing them with anyone else on the platform you get them from. That means that with exclusive leads you can focus more on your client and less on outcompeting other brokers.
- Increase Your Conversion Rate
Search engine optimization, social media, ads, cold calling, telemarking—all these can generate leads.
But track your conversion rates. It’s not unlikely for only a marginal number of people you reach to actually take the last step and close the deal with you.
If you’re not happy with your conversion rate for current lead generation efforts, it can be a good idea you try a different approach.
Maybe you’re not looking for leads in the right place. Maybe you need to diversify your lead generation tactics.
Buy mortgage leads online for a test and you may see your conversion rate go up and your cost per lead go down. If you don’t try, you’ll never know.
- Focus on Your Work
When you don’t have to constantly chase leads, you can focus more on the work at hand. You can tackle more work, increase your productivity and, best of all, you can focus on providing a better-quality service to your clients.
This is especially true if you’re not crazy about the marketing part of your work. Not every mortgage broker is a marketer or cares to be. And yet without leads, there’s no business.
But you don’t have to let the marketing aspect of being a mortgage broker distract you from your work or sap your energy.
When you buy mortgage leads online, you don’t spend time on non-work-related activities. You don’t cold-call, play the marketer, or try to make sense of what all those conversion stats in your analytics dashboard mean.
Instead, you look at warm leads directly and can decide within seconds whether they are the right leads for you or not.
The Bottom Line
Buying mortgage leads online can be a way to streamline your daily processes, free up time, establish a more constant workflow, and focus on your clients.
It’s a viable way to grow your business in a cost-effective and sustainable way without breaking the bank.
The control over expenses and scalability of the entire process mean that you can buy leads only as you need them.
And that can increase your reach while keeping your costs in check. It can have a very positive effect on your business.