How to Generate More Mortgage Leads

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One of the top priorities for lending officers of all experience levels is identifying reliable sources of mortgage leads. This article will cover three approaches: lead generation companies, lead acquisition platforms, and in-house lead gen campaigns.

Mortgage Lead Generation Companies
One of the fastest ways to get started is by purchasing mortgage leads. But if you’re going to work with a lead generation company, you need to know what you’re going to get.

Aged Leads
Aged leads are leads that showed interest a few weeks ago. These leads are more affordable than some of the other options, but that’s because most of the prospects you talk to will have already found a lender by the time you get to them.

Real-Time Leads
Real-time leads are leads that can be generated in-house or outsourced. The campaigns rely on traditional digital marketing to generate leads. Marketing automation software qualifies those leads and forwards singapore whatsapp data them to agents in real time.

The biggest challenges of this method of lead generation are:

driving traffic to your landing page, and
converting that traffic into leads.
Live Transfer Leads
Live transfer mortgage leads are leads that generate a phone call to one of the lead generation company’s agents. If the caller is qualified, the call will be transferred to someone on your team so you can close the loan.

These are high-intent leads because they cared enough to pick up the phone, and you’re talking to them as soon as they’re qualified. So you’re not wasting time on unqualified prospects while immediately following up with hot leads.

Lead Acquisition Platforms
You can also buy leads from websites like Bankrate, LendingTree, NerdWallet, and SmartAssets. The main drawback of these leads is that they’re usually sold to more than one lender at a time, so you’ll have some competition.

But if you have great loan officers who can follow up quickly, lead acquisition platforms can be a cost-effective source of mortgage leads.

Bankrate is a good example of how it works. The company sells leads for conventional mortgages, refinance mortgages, FHA/VA mortgages, and more. The site generates traffic by offering extensive rate tables for borrowers. When someone is planning to buy a home, they can compare rates on the site.

Bankrate mortgage leads
Source: Bankrate
Then, the site turns that traffic into mortgage leads when visitors want to get more information on a lender. They have to fill out a questionnaire, and that information is shared with matching Bankrate partners.