Entrepreneurial Selling

Telemarketing and Your Mortgage Business

Written by Rayzelle Forrest Young for Gaebler Ventures

This article explains the importance of having an abundance of qualified leads for a mortgage business to be successful. Get advice on the type of lead to select as well as choosing a company to buy them from.

If you're in the mortgage industry, you will definitely need a constant supply of interested and qualified mortgage leads in order for your business to be successful.

Buying and using pre-qualified telemarketing leads can prove to be lucrative if done right. Building your mortgage business using this method allows you to tap into a system where you don't have to use cold calling or waste your time contacting prospects that have no interest in your business. Here is how you can effectively use telemarketing leads to build your mortgage business.

Select Lead Method

The first thing you need to do is select a lead method that works for the nature of your business. Typically there are two kinds of leads to choose from when dealing with telemarketing leads. They are live transfer leads and raw leads. Live transfer leads are called and given information by a recorder and then transferred over to you as a live call if the lead wants to hear more about your mortgage program. A raw lead is one you call yourself and make a personal contact with from the beginning of the call.

Choose Mortgage Lead Type

Choose the type of lead you want to contact according to the services your business offers. If you don't deal with FHA loans then of course you don't want to choose mortgage leads that are interested in this type of loan. Your lead type is imperative to whether or not your business will be as success.

Buy Wisely

Make your choice carefully in the company you decide to go with to purchase your leads from. A good way to choose is to go with a company that has been around for at least a few years. This probably means that they have repeated business and provide good leads. You can also ask others in the mortgage business who they use or recommend for lead purchasing. There are a lot of new companies who make claims to provide stable leads and end up folding months later. Keep in mind this does not mean that all new mortgage lead companies are bad ones.

Be Prepared

Be prepared for the business that your lead campaign will bring. If done correctly, a new lead campaign can produce an abundance of business. You need to be prepared to deliver good customer service and excellent products. Doing this can turn one campaign into tons of business for months to come by way of referrals from satisfied customers.

Keep Track Of Performance

Tracking the performance of mortgage leads that yield the best results will help you to see what type of leads you need to focus on. As you begin to close loans you also want to make a record of leads contacted versus loan closes you have. This will aid you in figuring out an approximate amount of contacts you need to make in order to close one deal.

Repeat Process

After determining what type of lead works best for your business as well as the company to get your leads from, repeat the process. Paying attention to results versus contacts as well as being prepared should make for a successful business. No longer will you have to deal with the obstacle of generating good mortgage leads.

Rayzelle is an entrepreneur and writer. Based on her experiences as an owner of her own dance studio, she will share her personal tips on being a successful entrepreneur.

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