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While exclusive and non-exclusive mortgage leads both have their distinct benefits, they're also quite different. In the realm of purchasing online mortgage leads, there are a few things to consider, and whether you'd wish to opt for an exclusive lead or a non-exclusive lead is one of these first consideration points. While exclusive mortgage leads may be easier to close, they're also more expensive, and depending on your budget, non-exclusive leads may be more beneficial to you.
To compare the benefits of exclusive mortgage leads and non-exclusive mortgage leads, you'll first need to know the differences and respective benefits of both. Different lead providers may have different definitions of what they deem "exclusive" leads, but a general rule of thumb that can be followed is that these exclusive leads have only been made available to under 4 or so companies in total. Ideally, an exclusive lead has only been sold to 2 or 3 companies, and the lead is currently interested in finding the best mortgage for them.
Non-exclusive mortgage leads are quite different, and these leads are those that have signed up to learn more information about getting a home loan from multiple companies. With non-exclusive mortgage leads, you may run into the issue of finding your lead no longer has interest in a home loan, has been swayed already by another lender, or you are no longer able to get a hold of them in order to tell them what you may be able to offer.
There is a large cost difference in exclusive mortgage leads and non-exclusive mortgage leads, with the former option typically being quite a bit more expensive. Exclusive mortgage leads will often have a higher closing ratio, and will be more willing to talk with and learn more about the home loans you're offering. Non-exclusive leads, while much less expensive, may be impossible to get in touch with, or may no longer be interested in a home loan, making these leads much more difficult to close into sales.
A large deciding factor on choosing exclusive or non-exclusive leads is your personal budget, as this will determine just how many leads you'll be able to purchase at any given time. While your budget may only allow for 12 to 15 exclusive mortgage leads, this number could rise to 30-40 for non-exclusive, but you will often find your leads more difficult to close with the latter option.
One recommendation when choosing between exclusive and non-exclusive mortgage leads is to opt for a bit of both. By including both types of leads in your lead repertoire, you'll gain a better understanding of just which you have better success closing with, and you'll be able to expand the number of leads you may be working with at any given time. Without relying on one single type of lead, you can keep your lead collection balanced as you maximize the number of leads you're working with. Through using exclusive and non-exclusive leads, you can also gain the most bang from your budget buck.
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