Low Cost Mortgage Leads Are Aged

Suppose you need to get your hands on a lot of mortgage leads quickly, but you can’t afford to buy new ones? Buying aged leads could easily solve your problem.

“Aged leads?” I can almost hear you saying. “Aren’t they pretty much worthless?”

No, they aren’t.

Why Aged Mortgage Leads?

Aged leads are leads that have somehow fallen through the cracks. Perhaps the company that bought them originally didn’t have the time or the staffing to make even an initial contact. If that’s the case, you may be the first mortgage company who takes the trouble to get in touch with them and to answer their questions. The simple act of outreach could put you in a more favorable light than your competition.

Another reason why leads fall through the cracks is that, at the time of initial contact, the leads weren’t quite ready to act. A lot of companies have no provision for follow-up or for lead nurturing. By the time the lead is ready to move ahead with getting a mortgage, he or she may not even remember which company made the initial contact. That gives you the chance to follow up where your competitors left off and close the deal.

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Will All Aged Mortgage Leads Convert?

Unfortunately, all aged mortgage leads won’t convert. In fact, you can only expect to convert a small percentage of them. Since you can buy hundreds of aged leads for less than a tenth of what it would cost you to buy four or five fresh leads, though, you don’t need a high conversion rate. You can make your money back if only a few of those leads go on to become customers.

Approaching Aged Leads

Approaching aged leads by telephone can be time-consuming. Depending on how old the lead is, telephone calls can also make you run afoul of the “Do Not Call” or DNC list.

A safer approach is to contact aged leads by email, offering them an easy way to “opt-in” if they want to talk to a mortgage specialist.

After the email contact, it’s also a good idea to get in touch with leads by direct mail. While email can be easily deleted without being read, most people at least take the time to glance at direct mail that comes their way. Direct mail also gives them something tangible such as a business card, a flyer or a brochure to keep as a reminder of your company.

If you’re looking for a lot of mortgage leads for a great price, consider purchasing aged leads instead of fresh ones. With a little time and attention, they can become some of your best customers.

 

Photo by Tierra Mallorca on Unsplash

About Troy Wilson