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Originally Posted by Erik  Hey if you can leverage your lead business like you're doing then that's even better. Kudos for having the vision to put together what you have, Carlo! |
It feels good though that I'm not always defending myself from other people's remarks and challenges. Five years of battling and wrestling with prospective clients....
... now, it actually feels good to have a peaceful backyard.
I just got off the phone with a MortgageBrokerLandian not too long ago and we had a very good calm conversation. Most calls that I received for lead inquiries were a bit challenging and cold-shouldered b/c most of these LO's have been burnt before. Therefore, the last thing they want to hear is another lead broker pitching them a sale.
I'm sure I'll get back in the lead arena sometime down the road but I love Credit Reporting, Title and Escrow at the moment. When a loan officer pulls a credit report; they get that tickle of joy b/c that part is one step to a close. Then when they order Title; you know they're starting to feel it. Ordering Escrow is where they really get excited. The point of my story is, it just feels good to win along with the loan officers. When they're happy, I'm happy! When they make money, I make money! We all win together.
With leads, no matter what you do - It's never enough.
I'm sure you'll hear, "Well, if you produce quality leads then they wouldn't complain". I've heard it all and I paid my staff double just to triple pre-qualify the leads. LO's are salesman and they will always try to wheel-and-deal and find the best bang for their buck. Here's a pop quiz... Where's LendingHope.com? I remember those guys. Their leads were actually pretty good according from some of my clients but the owner ran out of money b/c he kept lowering his prices and not paying his staff fairly. How about Leads-for-Less.com? They were huge when I started in 2001 now they are gone.
A new lead company will debut every 3 years with a new marketing strategy - therefore there is no security. The lead industry is a high complaint business with high chargeback ratio with low retention rate. Lead brokers get burnt out from complaints and the stress of dealing with chargebacks. I know 85% of the lead companies out there know what I'm talking about. I'm sure you are feeling the pain as you read the word
CHARGEBACK.
Happy customers is what builds a successful business! You feel good about your service when your client feels good about it. HANDS DOWN.
