Services-On-Tap Announces Mortgage Lead Generation Tips
(PRWeb) December 12, 2006 -- Services-On-Tap offers tips for generating leads as the real estate market cools off and mortgage brokers are increasingly challenged to make their volume goals. Mortgage brokers and loan officers who are looking for new customers won't go far before being inundated with offers to buy mortgage leads. How do mortgage brokers find leads and maintain an affordable budget when it's possible to pay as little as $3.50 and just as easily spend well over a $100?
Greg Harris of Services-On-Tap said, "The answer is 'mortgage lead quality'." And yet there isn't a mortgage lead provider out there who doesn't insist that their leads are of the highest quality. More precisely it's important to estimate what it will cost to close a sale before purchasing any mortgage leads. Harris offers some questions that can determine the right mortgage leads:
How are the mortgage leads generated? There are three common techniques: snail mail, Internet and telemarketing. Typically snail mail and Internet generated mortgage leads produce less qualified prospects than telemarketing leads. Internet generated leads don't tend to be quite as far down the sales funnel and may produce lower close rates. Telemarketing techniques can create a better informed prospect that is closer to a purchase decision. Telemarketing leads typically have a higher close rate and command a higher price.
Are the leads "exclusive" or "shared"? Most mortgage leads are resold multiple times. While this can dramatically reduce the price, it will also reduce the expected close ratio and create a more competitive environment for the mortgage broker. Exclusive leads, on the other hand, are more expensive but create a one to one introduction to a potential customer. Exclusive leads also give the loan officer incremental control over what type of customer they require.
What verification strategy is used? Verification is simply the process of confirming that all the data is accurate and the prospect is really interested in learning more about a new home loan. There are many techniques employed for verification to ensure a provider is committed to verifying every lead they sell.
What's your guarantee? This is the question that separates the wheat from the chaff. It's unlikely that any company can guarantee a specific close ratio since so much of that relies on the sales skills of the mortgage broker. On the other hand, it's reasonable to expect that any company selling mortgage leads will guarantee that their leads meet the criteria they promise. At the end of the day, the company should be prepared to guarantee that every prospect is interested in learning more about a refinance or mortgage loan.
Are the mortgage leads "live" or "electronic"? Live mortgage leads are also known as warm transfers. This eliminates the need to reconnect with the customer and ensuing battle with voicemail. Live leads always have higher close rates.
About Services-On-Tap™
Services-On-Tap, based in Santa Clara, CA, provides a range of on-demand services for the mortgage industry including exclusive live and electronic mortgage leads, loan processing, and employment and income verification services. Services-On-Tap has helped generate more than $1 billion in loans and is committed to helping mortgage brokers and loan officers profitably grow their customer base while reducing their back office costs. For more information visit www.ServicesOnTap.com
###
Mortgage Refinance Home Equity Auto Loans Savings Accounts CDs Home Equity Line of Credit Home Loans Second Mortgage and No Hidden Fees. Offers include home mortgage, refinance home equity loans lines of credit auto loans students and other consolidation loans savings accounts and CDs with great rates online. Rates include no hidden costs or fees. Get a free credit report.
foreclosures
Related Articles:
Get Rid Of Debt Once And For All With A Low Interest Debt Consolidation Loan
The link between debt and self esteem is largely ignored but it is, nevertheless, very real It is hard to maintain positive self esteem if you feel like a failure because you are struggling just to make ends meet or you are living just to pay debt
Finding The Best Home Equity Loan
Many homeowners are looking for ways to help improve their financial situation by using a home equity loan. These types of loans are the smartest way for homeowners to borrow for many reasons. Here is some information to help you get the most out of your home equity loan.
Mortgage Payment Insurance Can Protect Your Home From Repossession
If you should find yourself unable to work and lose your income then finding the money needed each month to continue making your mortgage repayments could be a struggle. In the worst case scenario the situation could lead to you getting behind on your loan and ultimately losing the roof over your head. Mortgage payment insurance can protect your home from repossession, providing you ensure that the policy is suitable for your needs.
Debt Consolidation - Do the Math Before Taking Out a Loan
While often marketed as the ideal financial solution, debt consolidation might or might not help you. You should keep an eye on a number of factors, including the interest rate of the loan, the amount you owe and the number of years you have to repay the debt. When all is said and done, it is up to you to decide if you can benefit from a debt consolidation plan, because the lenders will always tell you that it will help you.
Why To Get A Secured Debt Consolidation Loan
If you find yourself in financial crisis and have no clue where to get help from then don't worry A debt consolidation loan is what you should be looking for
The Energy Efficient Mortgage
While you explore the refinancing options available to you, you might want to consider borrowing more than the amount needed to pay off your existing mortgage You can use the extra money to make energy-efficiency home improvements that might help you save a significant amount over time
Mortgage Leads, Junk vs. Real Time
If you are a loan officer or mortgage broker and you are on the market for mortgage leads, you may want to research the companies you are considering to determine exactly what kind of leads you will be receiving. Not to mention, where they are coming from.
Soft Market + Motivated Seller + 6% Seller Contribution = 5.50% Fixed Rate 30 Year Mortgage Rate Buydown
An anomaly is defined as a deviation from the normal order. At this very moment in many real estate markets in many parts of the country a soft market can lead to opportunities for many buyers.
Debt Consolidation Loan Calculator ? For Perfect Estimate
For any normal person who strives to makes ends meet debt consolidation can help relieve him from the various loans and debts and commit him to just one single easily payable loan.
Subprime Mortgage Lenders - Helpful Tips When Getting a Subprime Mortgage Loan
If you have bad credit history, no down payment or difficult to prove income and are looking to get approved for a home mortgage loan, you will probably need to look at subprime mortgage lenders to help you. To see a list of our recommended subprime mortgage lenders you can click on the link below.