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Getting enough mortgage leads constantly is one of the hardest parts of running a broker or lender's business. The reality is that many loan officers would tell you they have the time and resources to work more quality leads than they receive.
When considering the priorities to buy or obtain more quality leads, the best way will always be by word of mouth referrals. Loan officers form relationships with real estate professionals, business men and women, and prior clients. This method is the best way to have a steady number of mortgage leads coming into your office.
While this is the best way to get internet mortgage leads that close, a problem is that this strategy takes time. Building relationships isn't something that you can just pay $500 for and have in a day. It also is challenging to win over someone who already has preferred mortgage loan relationships. To increase the number of leads coming in while working on relationship building, loan offers need to develop other strategies to get leads.
Of course, most loan officers are familiar with buying internet leads from mortgage lead companies. This type of marketing strategy can be productive, but there are some priorities to remember when buying leads:
Most lenders just think about building relationships and buying leads for business. But there are other things you can do yourself. First, you can make your own website a high-quality generator of mortgage leads. Establish your site as an authority in the business by selecting a niche in the lending business and writing high quality content that shows your level of expertise. Well-developed mortgage loan content in a niche will help you to develop more leads.
For example, many states and cities have down-payment assistance programs for first time buyers. Many state and city websites do not provide robust content about these programs. This is a great opportunity for you to write high quality content about the programs. While the pool of potential leads could be small here, you could capture a LOT of them with a good website content presence. Also remember to have a nice mix of quality text, video and infographics on your site to attract as many types of consumers as possible; different people react to different types of media.
Try to improve your website to increase your lead capture. Typically, doing this involves getting all the clutter off the site that does not focus on capturing specific lead business. Have clear, obvious calls to action to get the contact information of prospects, and to reduce friction on the site.
What we mean is, you should not, for example, have the full 1003 loan application on your site. Few people will go through that and submit it. Rather, just ask few vital questions and get their contact information. Once you have it, you can follow up to collect the rest of their information.
With these tips, you should be able to increase the number of leads in your mortgage lead pipeline.
Please note that LeadPlanet.com does not offer home refinance programs. LeadPlanet.com is not a bank, credit union, broker or mortgage lender. We do not hold ourselves out as being able to assist a person in obtaining a residential mortgage loan in MN or any other state. LeadPlanet.com is a website that provides information about home financing and services that connect consumers to approved lending professionals. We do not offer refinance mortgages directly or indirectly through representatives or agents.
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