Beware of the proverbial "Wolf in Sheep's Clothing"! Over the years I have come across this one dozens of times. This is when a company claims that they sell live mortgage leads, freshly generated and they can even transfer them directly to your office. Then you get the lead and its not what was promised.
The reason this happens is because they are taking internet leads or a leads that have been sold over and over then they phone verify and try to pass them off as a live mortgage leads. The end result is "garbage in equal's garbage out". Meaning if you start off with a bad lead, there is only so much you can polish it.
Leads can be generated from online banners ads, direct mailers, email blast and even the annoying voice broadcasting system but the best and most expensive way to generate a lead is through telemarketing. The telephone was invented over 100 years ago but it is still hands-down, the best way to get your foot through the front door. Real live mortgage leads are super hard to find not only because it's an expensive process but also because it's damn hard too. Telemarketing is labor intensive, requires close management and plenty of blood sweat and tears. Anyone that tells you that cold calling for mortgage is easy might need a lobotomy and this is why you don't find many companies doing it. They try to take shortcuts and scam us out of our money by doing so.
In order to avoid this common live mortgage leads scam here are a few pointers to watch out for...
If you must buy internet leads then at least ask to see the websites that the leads are generated on. This way you can see what type of offer they are responding to and hopefully not just the same old "bait and switch" or "shoot the turkey and win a free iPod".
Try to buy only exclusive leads because other people will lie through their teeth just to close the deal before you do and ask for an exclusivity guarantee in writing from the lead company.
If live mortgage leads make sure they are not generated from internet leads and especially not voice broadcasting. 40% of those people only push 1 just to tell you to take them off the list or to cuss you out.
Make sure they guarantee their criteria filters in writing or you could end up paying to speak with some guy in a trailer park that just got out of bankruptcy.
Lastly, live mortgage leads are way different than dealing with referrals so be prepared to give a great pitch, earn their trust and hit the phones hard.
If you want to find out more about Live Mortgage Leads you can spend tons of money going through the learning curve or just visit our site at TheLeadTree.
Zachary Williamson has been generating live mortgage leads since 2003 and now travels overseas to Philippines to help manage the call center.
For more information, please visit: Reverse Mortgage Leads