How not to get burnt on leads?

[carlo@CreditReportAtlas]

Is there a thread, "How not to get ripped off by LOs from returning mortgage leads that are valid"?

[kellyg]

Originally Posted by brendo927

I asked for specific states MD, FL, RI, FL over 7% loan size over 100k, house value 200k-600k. I gotta call this all day....I see a very frustrated day coming.

Hey there Brendan, there is a much better solution than smiling and dialing all those leads, day in and day out...

See thread;
Leads and Money, Stop Cold Calling (GC)

[Florida Broker]

Brendo,

InfoUSA are just data files of names and addresses that people have inquired or most of the time just own a home. You set the criteria such as zip code, income, home value etc. InfoUSA leads are best used for mailings, you would have better luck going to Title companies and asking for a list of clients that closed with them,such as clients that have 2/28 and they are in the 22nd month of the first 24 months and will be going adjustable, and the best thing about it they are free because you will give the Title company repeat business from their customer database the most you have to do is take the Rep for the Title company out for lunch and discuss your needs. Just make sure you run the list against the DNC before calling or better yet use the list for a mailing. Hope this helps.

Joe

[mamoore]

This is an interesting thread. I never buy leads from any company. Dont get me wrong, I have in the past. I do buy info usa lists with filters and pay $300 a month umlimited. I dont call them all. I have a different system that I use in order to get a huge response fast. If your dialing those leads and making a sales pitch, you will get burned out. Its a numbers game and you need to be able to get through them fast and get a quick response. If you need help doing this, I would be more than happy helping you with your info usa leads.

The best way to get business is not from buying exclusive leads or a bundle of semi sweets. THEY DONT WORK.

Generate them yourself. Perfect Timing leads are free and you can get those closed quickly without being shopped. Old school , county clerk leads. Free and fantastic.

If they are on the do not call .....oh well I still have ways to get them to respond.

I have always been a top producer and Never has buying exclusive leads or live transfers got me there.

[carlo@CreditReportAtlas]

Originally Posted by mamoore

Generate them yourself. Perfect Timing leads are free and you can get those closed quickly without being shopped. Old school , county clerk leads. Free and fantastic.

I get calls from LOs that pulled my information from the Public Recording Clerk's office and I love those calls... because it allows me to reverse sell them into my Live Transfers. Also, just yesterday alone I received 5 calls from 5 different LOs pitching me the same spill, "Hello Carlo Desierto, we are calling about your current mortgage with WMC. You know we can lower you monthly payments?" What they don't know is my WMC Mortgage was transferred to Saxon. I love this calls. I teach this in my mortgage marketing seminar on how LOs try to use a list of info to telemarket homeowners that had never set an interest.

[mamoore]

I disagree. 1st of all, when a mortgage has been re assigned.... we get that information at the county clerks office. SO what ever you are training people about county clerk leads, You probablly need to go to the county clerks office and look at the public records. Secondly, I have been a broker for 10 years, And I can speak for most everyone In Our industry and say that lead companies are a joke. Most of the time they are a washed up Loan officers that couldnt close deals in the first place, so they generate leads and sell them. The thing is that they are so bad at generating leads too ,so they have to sell them over again. Who knows the truth about how fresh and how exclusive. Even Live transfers.... they are sold a day or two later. Maybe there are a few brokers out there who like buying leads, I have not met one. Now buying lists, That is a whole different story. The thing is, Loan officers and mortgage brokers will generate better quality leads and turn them into applications. We qualify the client by asking the right questions.When I have bought leads from a lead company in the past, most of them were dead in 2 minutes of the conversation. I have gotten live transfers from nursing homes and I have had exclusive leads that were a business listing. 3rdly, My county clerk leads are awesome, my script kicks ass and my loan officers have no problem with these perfect timing leads. They have had problems with lead companies leads. That is my two cents.

[carlo@CreditReportAtlas]

mamoore,

I don't mean to steal the trumpet from you but sounds like you're trying to sell something here. Also, if you're really busy just like what you've been announcing in here then why are you spending too much time online MBL? Shouldn't you be closing loans or getting the docs processed from the leads you obtained from the county clerk's office?

Originally Posted by mamoore

When I have bought leads from a lead company in the past, most of them were dead in 2 minutes of the conversation. I have gotten live transfers from nursing homes and I have had exclusive leads that were a business listing. 3rdly, My county clerk leads are awesome, my script kicks ass and my loan officers have no problem with these perfect timing leads.

Great and I'm seriously happy for you and I'm sure the whole community as well. So, about them "kick ass" scripts, why don't you post it on MBL so the rest of our neighbors can see those "kick ass" scripts. I also have a few clients here that would probably love to get a peek out of that "kick ass" script so they can close some of the leads I transferred. I hope the "kick ass" scripts are not for sale... because I've read some of your post and it sounds like this is what you're selling. If so, then just be honest and let everyone know. Be direct about what you are offering.

However, I could be wrong so how about them "kick ass" scripts and share the secret. I've shared mine in my FREE Mortgage Mortgage Marketing Seminar Call so why can't you share your secret kung-fu script.

Do you have a change for $0.50 cent?