Beware False Claims from Mortgage Lead Providers!

In today’s environment of information it seems people have become human lie detector test.  It’s true we have all been callused by the gimmicks and scams that are all around us.  They are on TV, radio and even the roadways are full of ads marketing their own form of the old bait and switch.  Buy one get one free, free wristwatch with purchase and even the classic free steak, which normally applies only if you can eat your weight in red meat   It’s no wonder this scum has worked it’s way into the mortgage leads industry as well.  Almost every lead provider is offering free mortgage leads to reel unsuspecting customers in the door while they hit them over the head with a two thousand dollar invoice.  This is not the way mortgage marketing is supposed to be!

If there is one place where free anything should be offered it’s the mortgage leads industry and the reason why is because it is so hard to find a good lead source that you can trust spending money with and free mortgage leads would take the risk out.  There have been an influx of lead companies praying on the mortgage industry like vultures circling a dying animal.  They know that mortgage brokers need leads and they need them fast to survive this downturn.  Most mortgage brokers know this and have dedicated a budget to invest in quality mortgage leads but with a one-out of-ten shot of finding a good company they could deplete their budget quickly and be left with no deals closing that month and their thumb in their assets.  This being said, offering free mortgage leads might be a good way to pick up a new customer and if they are happy with the quality they might just stick around and increase their order next time.  Bottom line is the mortgage broker takes a big risk because not only can he loose valuable marketing money but have to float expenses due to no loans being funded as a result of a bad purchase.

“Free” Mortgage Lead Companies

The problem for the lead provider is that generating mortgage leads is not  free at all and rather a quite expensive process.  Quality mortgage leads have become much more difficult to generate due to the laws of probability.  It’s simply like squeezing blood from a rock.  It would take a page and a half to break down all the numbers so I’ll just explain it by saying that there is only a small percentage of people left in America that have good a enough financial standing and still can benefit from refinancing their home.  You can see how offering free mortgage leads to the public with no return could would be unattainable.  No one is in the business to give free stuff away and if they were they wouldn’t last long. Therefore, mortgage lead generation should be left up to YOU and YOU alone.  It’s just too easy to generate your own, exclusive leads online!

Chris Hallmark – http://www.loanofficermarketinglab.com/chrish