Question by frankcortez011: what is a good way to generate mortgage leads?
what is a good, best or clever way to generate mortgage leads(refinancing or purchasing).
Answer by debberu
The usual answer is via relationships with real estate agents. This can be a daunting and costly task and the real estate market is on the decline.
One idea is to check out the bridal shows…. who better than young and in loves who dream of their first house together??
Give your answer to this question below!
What kind of paper are you peddling?? B paper? IF so, introduce yourself to several realtors as a source of “Hard to finance” purchasers. The realtor wants the sale, and A paper is easy, but B paper is difficult. If you have good contacts for secondary source money, you will become very popular once you begin procuring notes for those who couldn’t get A paper. You get your commission, the realtor gets his, and the buyer gets the house. What happens after that is not your business. BEWARE…it is illegal to take kick backs from realtors, or to give them kickbacks. Both you and the realtor will loose their licenses if you do. Don’t go down that road…very sleazy.
I’m currently running a business on generating qualified US mortgage leads. We’re talking of a good 15-30 qualified leads a day here. Send me a mail at firstname.lastname@example.org if you’re interested in finding out commercials. Cheers!
If you can get in with Realtors, go for it. There are so many “B Credit” loan officers out there that the Realtors don’t need you. They have a guy already. Concentrate on doing one thing really well and let them know what that one thing is. That’s your only hope going directly to them.
Send letters to all your office’s past clients. Give them an article or something that will interest them and publicize a mortgage or credit seminar. Call this list of people and ask them if they’d like to reserve a seat. You can advertise but you may not need to depending on how big your house list is. I did all this and of all the people who attended, only about 1/4 or less came that saw the ad. Everyone else came after I spoke to them on the phone. It will get you some deals but, most importantly, it will spread good word of mouth about your company.
Here’s the most important part. Take these new deals to Realtors that like you. If you give them deals, they’ll do the same.
This is one of MANY options. You could work with local FSBO’s by PreQualifying their potential buyers. Or call “for rent” ads and send them info about investor and commercial loans.
Get yourself listed on the Mortgage broker directory: http://www.regionalmortgages.com
It lists brokers by zip code online.