The 5 Myths of Mortgage Leads

October 14, 2010
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Over the past three-years during the recession the majority of the mortgage firms have gotten smaller. Many mortgage brokers and debt consolidation firms are doing more with less. Cost controls looking for ways to reduce expenses given limited market growth is more critical than it’s ever been. From automated customer relationship management databases trying to milk every last drop out of each sale to the tougher effort of finding credit worthy borrowers with equity.

Among the challenges that face mortgage broker’s everyday is the task of finding a steady flow of qualified leads in an unprecedented down market. Now more than ever the science of targeted marketing is the key to success.

Luckily, Internet mortgage leads with the help of advanced technologies such as data mining can produce amazing results.

Here are a few reasons buying Internet mortgage leads is a smart return on investment.

Remember, according to PEW Center research now 79% of all consumers look online to price shop for financial and retail deals. The days of using the yellow pages are long gone as the Internet has surpassed print newspapers and radio reaching millions more consumers.

 

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Don’t bother reading your printed local newspaper anymore. Today, most newspapers have seen 50% to 70% declines in readership as millions flock to online social media and digital media channels. These Internet channels automatically collect vast amounts of information that are data mined and sorted into category lists available for mortgage brokers and others to buy.

Price shopping is rampant online. Now homeowners looking for top mortgage rates have instant access to the lowest rates and top quality services. Within minutes they can often get a precise read on the best mortgage refinance options.

However, Internet has also in some respects made it harder for sellers due to vastly increased competition online. Now borrowers can shop nationwide for the best option.

Many Internet advertising services such as search engine optimization and pay-per-click seo might help but buying high quality leads ensures it’s worthy.  Generally, it is recommended to employ a mix of various Internet marketing options when implementing your sales plan.

If you are able to hit on a quality lead provider than stick with them in order to boost your sales pipeline. Stop wasting your money on low quality print media advertising and instead focus on increasing revenues using powerful lead buying services.

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