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Essentials of Good Mortgage Lead Management

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.
Sign of a mortgage centre in East London
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So much discussion surrounds getting mortgage leads we often forget how to properly manage these leads once we get them. If your sales pipeline database system is automated then it can be a very time consuming job. If done correctly, a lead management database that automatically alerts you to scheduled call back or important dates ensures a smooth continuous flow of leads daily.

The benefit of a sound lead management system enables an experienced mortgage agent to make good use of mortgage lead management tools.

Increased sales conversion rates as each mortgage branch obtains new mortgage leads from various sources like websites and marketing lead providers. These leads are pre-sorted to include prospects with varying qualifications such as self rated credit, LTV, or loan amount. By qualifying leads i.e. filtering the data correctly seasoned agents can prioritize their time.

First they focus on closing the most valuable leads then work their way towards the bottom of the list. In this fashion the often cumbersome task of following up on genuine leads becomes more efficient always increasing the conversion sales rate.  A mortgage company with a solid lead management system should be able to close 20% more leads.

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Remember good leads do not get lost, not even those considered aged leads. Be organized in the approach. Have an automated workflow system in place to earmark the leads and any documents to the appropriate file i.e. digital files can make searching very quick as opposed to leafing through endless paper file draws.

Highly efficient database searches for quality leads generated can be differentiated in terms of zip codes, loans required, area codes, credit history, etc. Such digital cataloging of the leads simplifies the follow-up and tracking of these leads. Many mortgage companies make their lead management database password accessible via Internet applications so that sales reps on the road can dial-in to grab new leads even accessing the information on a cell phone.

Digital lead management systems accessible remotely accelerate better sales closing response time. On average studies prove online systems save 35% to 45% off things such as travel, materials and lodging across the board while generally accelerating the rate of sales.

Ideally, the mortgage agent should theoretically never have to step foot in the office. He should be able to access all sales related leads, materials and educational training online while on the road – out-in the field making hopefully closing sales.

Although physically, the leads are maintained at the office on a computer network server, it should allow the data to be pushed out from the office over the Internet for authorized sales agents to access 24/7.

Since the database is maintained centrally it can be quickly updated with new materials or changes necessary to key documents etc. The sales lead management applications offered to the sales agents in the field should be easy to use and robust.

Whenever we talk about potentially sensitive insurance or mortgage financial information, it is necessary to ensure multiple security features are built into the system. A solid security system is also a sales benefit that can make sales prospects feel confident that your running a top quality organization that is dedicated to their success.

By implementing an intelligent mortgage lead management system you will be able to produce better customer service and data security for the sales prospect, efficiency and profits for the mortgage firm.

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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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