Look for a number of key factors when determining sources for quality leads

Michael Bococinski, senior vice president of business development, Metro Marketing

As published in Scotsman Guide's Residential Edition, September 2005.

In today’s volatile lead-generation market, brokers often are concerned with the quality of their mortgage leads. Many brokers have tested and used lead sources whose poor results have caused discouragement and frustration. These leads often are low-quality, nonexclusive and generated through spam and unsolicited e-mail blasting.

For many brokers, the answer to this dilemma may be lead generation through telemarketing.

Telemarketing lead-generation ser- vices allow the mortgage industry to proactively streamline applications and increase revenue substantially. When done properly, telemarketing provides brokers the best chance of receiving exclusive, high-quality mortgage leads.

A telemarketing lead’s ability to close does not necessarily determine its quality. A quality lead is not a lottery ticket but an opportunity to speak to a qualified homeowner who requires a broker’s services. There are a few factors to consider when evaluating the quality of mortgage leads.

Exclusivity
The biggest obstacle in mortgage- lead generation is a lead’s exclusivity. With many lead sources, brokers often find themselves competing with many other brokers.

When investing in a telemarketing campaign, brokers need to find out how many of their competitors are receiving the leads generated. Telemarketing campaigns that oversell their leads often yield the same results as unsuccessful Internet campaigns. Although exclusive telemarketing leads are more expensive, they provide a better chance of closing, as competition is eliminated.

Delivery time
Another critical aspect of lead generation is lead delivery — fresh today, stale tomorrow. In this competitive industry, it is important that leads are delivered in a timely manner. When choosing a telemarketing company, clarify if leads are sent in real time. If they do not arrive within 24 to 48 hours, they are less valuable, and a broker’s closing percentage drops dramatically.

Brokers also must verify the format in which leads are delivered. They can arrive in Word files, in Excel spreadsheets, via e-mail or in other ways. Make sure your format is acceptable. A delay on your part when receiving the data also will cause the lead to become stale.

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