Some Questions You Should Be Asking Your Mortgage Lead Companies
A Home Buying Article Contributed by Robert Scalia
Quizzing Your Mortgage Lead Company is Good Policy for You.
When it comes to mortgage leads, knowing exactly where your mortgage company is drawing these leads from and how these leads will affect you are not so obvious but very important questions to ask.
Here are a list of questions you should be asking your mortgage lead company before you sign on any dotted line.
A List of Questions Designed to Make Hunting the Best Mortgage Lead for You That Much Easier.
The first question you might want to ask your mortgage lead generation company is what is their lead return policy?
Why? Well it is vital that you find this out before purchasing an Internet Mortgage Lead of any kind. Bad leads are worthless to you, first off. And if you are paying thirty dollars a pop for leads you think are good, things can add up very quickly. While it is impossible to expect that no batch of leads will be completely accurate, you want to be making sure that the percentage that turn out to be bad doesn't surpass ten or fifteen per cent. If it does, go somewhere else.
And keep in mind that some companies say they will refund a maximum of 10%-15% of the money you spend purchasing bad leads. You might want to keep this number is mind when it comes time to bargaining for your mortgage leads.
You also need to ask the company in question what makes a lead returnable for them, as well as what makes one invalid? Different companies will have different definitions, and consequently policies, on what constitutes a bad mortgage lead.
Other Mortgage Lead Questions You Might Want to Ask
You need to find out how many times your mortgage leads are sold?
You want to make sure that companies aren't jumping the gun and overselling the leads they generate. Given that the best leads out there are exclusive mortgage leads, you want to make sure your company does deal with these. Although they are more expensive, exclusive mortgage leads will ensure you that you are the only person receiving the lead.
If the lead isn't exclusive, you'll want to find out how many other times the lead has been sold. Keep in mind that if mortgage brokers receive the same lead in greater numbers, it will decrease the chance you have of closing the sale.
Ask your company what filters they have available for their leads. Some companies specify,that they only want leads for mortgage seekers that have a excellent or Good credit ratings. Others may specify that they only want leads from Colorado.
Equally important are how these leads are delivered. Leads may be delivered in text format, Microsoft Excel or e-mail. You'll need a format you are able to work with. And last but not least, press your company to disclose how they go about generating their Internet mortgage leads. If they use incentives, run away as fast as you can. It's the best thing.
