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Buying Mortgage Leads is a Shortcut to More Sales this Month

By Troy Wilson
3 minute read
⚠️ Disclaimer: While every effort has been made to ensure that the information contained in this article is accurate, neither its authors nor Aged Lead Store accepts responsibility for any errors or omissions. The content of this article is for general information only, and is not intended to constitute or be relied upon as legal advice.

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Many mortgage professionals wonder how they can broaden their clientele and secure more business. While there are many homeowners and potential home buyers in need of loans, it can be difficult to find and reach out to these individuals.

One way to find potential clients is to buy mortgage leads. A mortgage lead is information about a consumer that may qualify for a certain type of mortgage loan. A lead will usually include the consumer’s name, contact information, and some financial information, like the consumer’s estimated credit score, income, and debt information. f is a great way for professionals to find potential clients that they would not find otherwise. This can increase a professionals sales and prove to be a very profitable investment.

The Different Types Of Mortgage Leads Available

When buying mortgage leads, it is important to understand the different types of leads that are sold. The three main types of mortgage leads are normal leads, live leads, and leads sold by the credit bureaus. A normal lead is one that is stored in a lead generation company’s database and sold to multiple different mortgage companies. These consumers will probably have been marketed to several times, which may make they harder to turn into clients.

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Live leads are consumers that have already showed an active interest in a possible mortgage loan. These consumers may have requested loan information online or were cold called by a lead generation company. These leads are generally much more expensive than regular leads and are usually not sold to more than one company.

The three major credit bureaus also sell mortgage leads. Based on the information in the bureaus’ records, they determine who could possibly qualify for a mortgage loan. These consumers will not necessarily be interested in obtaining a loan, but may be a good candidate. However, the lead information provided is not always completely correct, but is more of an estimate of a consumer’s financial situation.

How Companies Benefit from Buying Mortgage Leads

Buying mortgage leads is beneficial in a few different ways. The first benefit is the time that it saves. Instead of wasting time cold calling uninterested, and possibly irritable consumers, mortgage professionals can spend time pursuing good candidates. Another benefit of buying mortgage leads is that many leads contain information about consumers that have already expressed interested in the loan process. These leads will be much easier to turn into clients and can greatly increase a loan officer’s monthly sales.

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Troy Wilson

About Troy Wilson

Troy is the CEO and founder of Aged Lead Store. He has been in the lead generation industry for over two decades. His blog posts focus on how to refine your sales process and get the most out of your insurance leads, mortgage leads, and solar leads.

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