Lead Broker vs. Lead Generator
Make Sure You Know Who You Are Dealing With!
This is the single most important piece of information you need when looking for a source for your mortgage leads. Are you working with a lead broker or a lead generator? What’s the difference? A lead broker generally purchases leads from third parties (a lead generator) and will resell them to you. A lead generator, on the other hand, generates its own leads directly on its website through its own marketing efforts and sells them directly to you. With a lead broker, it will be difficult to determine how and where they are getting their leads. You should still try, even if it requires you to agree that you will not engage in business with their sources.
It is best to know as much as possible about HOW the lead was actually generated. This will clear up any questions regarding whether a company markets “incentive” offers to consumers. You also want to know when the lead was received and how many times the source sells its leads. If they tell you only four times test them out. Go to the website and complete an application. Sit and wait to see how many calls you get from lenders. Without this information, there is no real way of knowing if four companies or 15 companies received the same lead. Lead generators who wants to earn your business should have no problem giving you the details of their lead generation process. If they won’t, you might be working with a lead broker. Not that this is bad; however, if they are unable to provide you specific information, it does raise the question of the age of the lead and the number of times the lead was actually sold or resold. A lead generator by contrast manages its own website and spends its own advertising dollars to generate its own leads.
Submitted Greg Kazmierczak
3 comments:
I will be calling you but wanted to let you know your site is informative. Good info and have better understanding of the questions to ask now when I call you guys and another lead companies for that matter. Anxious to try your leads now that I know a little more about how you work
Andy Ross
Some advise for everyone out there. We had some really bad experiences with lead companies but as it turns out they were buying them from other companies. Just make sure you know who you are dealing with. Whenever we sign up a new source we always ask to see a site where they have their banner ad's on and then complete the application so we can see how many times they call us. Normally the conversation ends with us asking for a site they advertise on....You get Oh I have to get back to you on that or we don;t disclose that information. Run Run Run from those guys
Good lead hunting
Derek Wesznieski
Cound not agree with your statements more. We have been unsuccessful and were told one thing then found out the direct opposite when we bought our first batch of leads. Most of the people signed up for some sort of Ipod giveaway and obviously the leads were not good. We have found a solid source with a small boutique shop but will also try lowermypayment. Good advise btw on the blog.
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