As our industry is going through some significant changes and readjustments we need pay particular attention to our lead vendors or the number of vendors we are working with if we are to maintain a profitable platform.
Many of us are discovering our vendors are running out of inventory. As we call lead companies and ask for 25 or 50 per day; many will say sure not a problem but what we are hearing is that many can not deliver. The reason, most mortgage companies and brokers are looking for lower LTV's and higher loan amounts. Program criteria is being is becoming conservative and it is getting more and more challenging to provide the type of lead the industry is looking for and still be cost-effective at the end of the day. For the lead company this means much higher lead acquisition costs as incremental advertising dollars are spent trying to get the pool of leads to satisfy the new appetites of the lead buyers. Don’t be surprised if lead prices go up or lead companies try new advertising methods to capture the audience lead buyers are now searching for.
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4 comments:
Greg I agree. We have found two of our lead companies that we worked with are giving us excuses daily why we are not seeing the leads. I realize generating the lead is no easy task, not sure all the dynamics that play out for these companies but I would not be surprised if it gets worse before better. Very informative site by the way. If you could recomment some lead companies that are not having the same problems would appreciate an e-mail at floridadream1@yahoo.com
Thanks
Rich Sherman
Greg I agree with your comments. we have already seen a couple of our lead companies tell us daily the leads are coming but they are not. I don't know they dynamics that play out on that side of the business but we are forced to look for other lead sources. In you experience who are the solid companies out there to work with. Would appreciate an e-mail at floridadream1@yahoo.com
Thanks
Ben sherman
Do you have any idea of what lead companies sell bulk leads?
Thanks
J.T. Burrows
Trident Capital
JT. most companies will sell bulk leads. I would suggest first try leadproducers.com and leadsforless.com
Regards
Greg
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