Lead generation is not easy, especially when you are in the mortgage industry. You are going to have to grind, and really hard. So, sometimes, it is inevitable to need a little bit of help. Fortunately, you can always buy them, but the question now is, where to buy mortgage leads?
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Why Buy Mortgage Leads?
Don’t jump ship just yet. Before you get too excited about buying mortgage leads, you need to understand what it means. Because at the end of the day, while it may sound beneficial, it’s still a matter of whether or not it is the right one for you.
As the name suggests, buying mortgage leads is the concept of purchasing them instead of manually earning them. You no longer have to go through the tedious task of marketing to know the people who have a high chance of becoming leads, because an agency does it for you. The only thing left for you to do is to buy that information from them.
The Pros of Buying
With that said, buying can be beneficial in various aspects.
1. Saves You Time
Nobody said earning mortgage leads is easy. If anything, it can be one of the hardest challenges you have to go through. The market is quite niche and you need to have the right marketing strategies to attract the right people.
When you buy, you save yourself from all the planning, budgeting, and waiting of earning. With so much tasks taken off your back, it doesn’t have to be said that you free up quite a huge chunk of your schedule with buying. As a result, you now have more time to concentrate on the more important things of your business.
2. Immediate Results
Earning your leads is going to demand time, and a lot of it. It’s not a one-day task, but rather a dedication that could take you months or even years to see your first results.
When you are a small business and marketing budget isn’t all that much, having a strategy that can get you immediate results is hard to resist. And that is what buying provides. No more waiting to have your first batch of mortgage leads. As soon as you buy them, you already have a set of people who only needs persuading to choose you as their mortgage lender.
3. Cheaper
Buying mortgage leads can be the more economical choice. The purpose of selling mortgage leads is to provide an alternative choice to businesses, so you are bound to find a service that is right for your needs.
Not only that, because these are companies that are dedicated to earning leads over anything else, their operations are much more efficient. This allows them to acquire leads at a much cheaper per lead cost instead having to do it by yourself.
4. Effective
Let’s say you do earn your leads. The next challenge would be learning whether or not they are real leads. It’s one thing to assume that they intend to seek out a mortgage loan based on their interaction towards you, but it’s another to confirm that.
Even if a person has constantly approached your website and business, there is still the chance that they aren’t really a lead. But rather, somebody who is just interested in learning about mortgages. While any person who is showing engagement isn’t bad, it just means that you still have to narrow down your potential leads.
Compare this to buying wherein when you get leads, most of them are guaranteed leads. Just remember to get an agency that has strict and rigorous criteria in getting their leads.
The Cons of Buying
As mentioned earlier, buying leads depends on your needs. So, it is not all good. It can have its fair share of cons if it is not the right one for you.
1. Can Easily Get Expensive
If you depend entirely on buying mortgage leads, your expenses can easily mound up. While buying can provide immediate relief and results, marketing strategies can be the more economical choice in lead generation long-term.
2. Needs Research Too
It’s not all sunshine and rainbows when it comes to buying. Not all agencies are the same and there is no universal rule to the criteria they undertake. With that said, they can generate leads that are not as effective as you would expect. This goes to say that whenever you buy, search for agencies that have a proven track record.
3. Consider ROI
Leads are what converts to customers which are the people that bring in the revenue for your business. When buying leads, you need to make sure that your investment is less than the cost of buying. If you are not too careful, you might be spending more than you can make.
Always consider how much you are going to make with every sale. Understand the cost of your services, the revenue you are going to make with each, and how much a potential client is bound to spend. If it comes less than the cost of buying, it defeats the entire purpose of it.
Return of investment needs to be in the picture if you want to make buying leads an economical choice. If you do not consider this, it is easy to be losing money than making any.
Where to Buy Mortgage Leads?
Buying leads? No problem, you can find them in almost every corner of the internet. Buying mortgage leads? That’s where it gets a little trickier.
Since how to get mortgage leads is no walk in the park for you, the same hurdle is the same for agencies, even if they specialize with it. So, it can be challenging to find lead companies that provide mortgage leads.
Fortunately, you need not look far and scour the internet day and night, because here is a list where you can buy.
1. Experian
If you are looking for specific and targeted mortgage leads, Experian is the right one for the job. They provide a wide array of mortgage lead choices. You can even make requests on the mortgage loan types a lead is looking for, candidates for reverse mortgage, and many more.
What to Like
- You can request for specific mortgage leads that are best for your needs.
- Cost effective, providing a wide array of pricing.
- Strong consumer support. Get complete and comprehensive answers to questions and inquiries anytime you need.
2. RGRMarketing
If there is an agency that does lead mortgage best, that would be one that concentrates on doing only that. Since this one does just that, you are guaranteed that all their effort revolves on bringing you real mortgage leads.
What to Like
- High quality customer service that guides you through ever step of the process.
- Feature-packed, such as seamless integration with lead management systems and built-in market reach via Google, Yahoo, and their email partners.
- 20 years of experience for guaranteed quality services.
- The website has a comprehensive lead form for the type of lead you are looking for.
3. Lending Tree
Years of experience has made Lending Tree one of the best mortgage lead generation agencies. If you need to buy quality mortgage leads, this is one of the best go-to. Not only are you guaranteed with your purchase, but you are also provided with a wide array of pricing options. So, regardless if you are small or big business, there is always something for you.
What to Like
- Modern and aesthetic website makes it easy to navigate and get answers to all your questions.
- Implements extensive filters, making sure that your leads are guaranteed to be of quality.
- Provides various other services, so you can get everything in one website.
4. Lead Planet
From the name itself, you are sure that you are buying yourself some great leads. Don’t let their retro-designed website fool you. They have a lot of options to choose from, allowing you to get the leads that are fit for your needs and for the pricing options that are suitable for your budget.
What to Like
- Extensive lead type choices to choose from including refinance, loan modification, and foreclosure, among many others.
- Website is a content haven. So, if you have questions, you are bound to get the answers from the website itself.
- Years of experience makes sure that you are getting quality leads, putting every penny of your investment into great use.
5. Leads Bridge
Sometimes, you don’t want to commit just yet. Instead, you want to have a trial to test out the waters and know whether or not buying mortgage leads is right for you. If that is the case, Leads Bridge allows you to have a demo. So that you can make an informed decision without any regrets. Though, that is not the only thing to look forward with the company.
What to Like
- You are greeted with a refined website that is easy to navigate and get answers to.
- Have access to fast and convenient integration with a variety of lead management software.
- Connectivity and synchronization to over 370 tools.
- Flexible pricing that will suit your needs regardless of what spectrum your budget is in.
Should You Buy Mortgage Leads?
A common question that lingers around the mind of business owners is, should they buy mortgage leads?
With the good and bad highlighted in this article, the answer is simple. If it is right for you, then why not. Otherwise, you are better off putting your money elsewhere.
There is a reason why mortgage lead selling is a striving business. There is also a reason why it is not all the talk of the town and hasn’t completely substituted natural forms of lead generation. It is not perfect, but use it alongside with the right strategies, and you are going to see the best results.
As long as this article is, it can be overwhelming to understand and internalize every point mentioned. However, you don’t have to go through everything all by yourself. Instead, you can seek the help of the best digital marketing agency in making the right decisions every step of the way in your business. Contact us today for a free strategy consultation fit for your needs.
