Aged Mortgage Leads: What You Need to Know
When it comes to mortgage marketing ideas, there’s no shortage of paths to follow.
With a growing number of lenders, loan officers, and brokers taking full advantage of aged mortgage leads, it’s time that you do the same.
Mortgage leads are exactly what they sound like. These leads provide the information you need to connect with consumers who have expressed an interest in getting a mortgage to buy a new home loan or refinance an existing one.
While there are other ways to generate mortgage leads, this is one of the fastest and most efficient ways of doing so. Add that to the potential for an above-average return on investment (ROI) and it’s easy to see why so many companies are buying leads as quickly as they can.
Why Should You Buy Mortgage Leads?
There’s no shortage of reasons to buy mortgage leads.
It is challenging to find enough time to generate and call on new leads. It only takes a few minutes to purchase leads. That leaves more time for closing deals.
Access to home purchase and refinance leads
In addition to consumers who are in the market for a home, you can also purchase mortgage refinance leads. This opens you up to another audience.
You know the lead is interested
With other forms of marketing, advertising, and sales, you never know what you’re getting. But when you purchase mortgage leads, you know that the consumer is in the market for a loan.
These are far from the only reasons to buy mortgage leads, but they’re more than enough to help you understand the benefits of doing so.
What About Aged Mortgage Leads?
Aged leads are similar to new mortgage leads in terms of how you can work with them. These leads are generally 30+ days old, but that doesn’t make them any less valuable. Get this:
- Aged mortgage leads cost less than new mortgage leads
- Your close rate can be just as high with aged leads, leading to a greater ROI
Even if you don’t rely solely on aged mortgage leads, it’s a great supplement to both new and seasoned loan officers and brokers.
For instance, if you’re low on leads at any time, you can purchase a batch of aged leads to keep you active.
Where to Buy Mortgage Leads
The easiest and most efficient way to buy mortgage leads is online. With a streamlined online system for buying leads — such as the one provided by Aged Lead Store — it’s easy to get up and running within a matter of minutes.
The benefits of buying online include:
- A dashboard to track your spending and leads
- Fast service at any time of the day
- The ability to purchase multiple types of leads
Also, when you buy mortgage leads online, advanced targeting is available to ensure that you order leads with the best chance of converting.
What Kinds of Mortgage Leads are Available?
Generally speaking, there are two kinds of mortgage leads to choose from:
- New home purchase mortgage leads: These leads are in the market for a new home.
- Refinance mortgage leads: These leads are interested in refinancing their current mortgage at a lower rate.
You can purchase one type of lead or both.
How Much Do Mortgage Leads Cost?
When you purchase new mortgage leads, you can expect to pay anywhere from $20 to $100 per lead.
Aged mortgage leads are much more affordable, with a cost ranging from as low as $0.10, when you buy in bulk, to $1.50 per lead.
Not only are you taking less of a financial risk with aged mortgage leads, but you have more prospects to call.
On average if an aged lead costs $1, you can purchase 20 aged mortgage leads for the same cost as one new mortgage lead.
Aged Lead Store offers affordable pricing for purchasing bulk aged leads with prices decreasing as the number of leads increases. For 1 to 249 leads prices are as follows:
- $1.50 per lead 30 to 85 days old
- $0.40 per lead 86 to 365 days old
- $0.20 per lead 366 to 2000 days old
How to Sell to Mortgage Leads
There’s no right or wrong way to sell to mortgage leads. Instead, you should define a strategy, track your results, and tweak it as necessary. Doing so will lead you toward a plan of attack that generates top-notch results.
Even so, there are some basic tips to follow when selling to aged mortgage leads.
Stay Ahead of the Competition
Every homebuyer or homeowner has access to many lenders and brokers. You want to get in front of them as quickly as possible and stay in front of them, as it gives you a leg up on your competitors.
Explain what makes your company different
Your sales pitch shouldn’t be the same as the next person. It should be unique to you and your company, based on what makes you stand out from the crowd.
Always try to close something
Ideally, you want a prospect to complete an application with you over the phone. However, that won’t always happen right away. In this case, try to close something else, such as setting up another phone call.