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chmax7
470 Posts |
 Posted - 08/28/2008 : 2:06:06 PM
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| I used Lending Tree at a prior company a few months back. I have to say the leads were not too bad. People were very receptive. Of course they were all rate/fee shoppers which was fine. Are there any other lead sites like Lending Tree where LO's have had a decent experience from? |
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JONGEO
251 Posts |
Posted - 08/28/2008 : 4:58:59 PM
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what is your pricing???
quote:
Originally posted by mcamp60610
quote:
Originally posted by chmax7
I used Lending Tree at a prior company a few months back. I have to say the leads were not too bad. People were very receptive. Of course they were all rate/fee shoppers which was fine. Are there any other lead sites like Lending Tree where LO's have had a decent experience from?
Christopher, we have many customers that switched over to us after using Lending Tree. If you contact me I'll be glad to give you references, referrals, and show you our lead generation source.
Malcolm (888) 711-0171 EXT4
http://pristineleads.com/solutions/mortgage-origination-leads.html
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dkendall1979
10147 Posts |
Posted - 08/28/2008 : 5:03:20 PM
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Since everyone is chipping in.
www.yahoohomefinance.com
My buddy's operation. He doesn't sell leads though. He sells 3 week commitments for $2500 bucks. He will make your phones explode! 20-50 inbound calls a day, 5 days a week. Do the math... that works out to be about 3-8 bucks a transfer.
For what it's worth.
Here's what you'd be interested in on the mortgage side of things: http://www.yahoohomefinance.com/yh_finance_038.htm
And yes, Yahoo! actually called him and said, "We'll be sure to send you anyone looking to refinance." True story! |
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bestbet123
1577 Posts |
Posted - 08/28/2008 : 6:56:14 PM
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Lending tree is a joke,those leads have been whored out to everyone , try Malcolm , I spoke to him today and he seems like the real deal.I will post results after my small campaign with him.
quote:
Originally posted by chmax7
I used Lending Tree at a prior company a few months back. I have to say the leads were not too bad. People were very receptive. Of course they were all rate/fee shoppers which was fine. Are there any other lead sites like Lending Tree where LO's have had a decent experience from?
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sc312001
1047 Posts |
Posted - 08/28/2008 : 7:50:08 PM
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The company I am working for now includes 500 + leads per year that are generated for only us & passed on only once. We also provide marketing support & pooled advertising(Local TV) plus name branding & much more. First LO in each state $1500/next ten $2500 for the year.
www.xemplarmtg.com (temp site) |
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waynepbright
3660 Posts |
Posted - 08/28/2008 : 8:12:43 PM
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dmaleads.com |
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KSCOTTMIDACAP
101 Posts |
Posted - 08/28/2008 : 8:15:58 PM
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MALCOM,
CAN YOU SEND ME AN EMAIL WITH SOME PRICING STRUCTURES OR BETTER CONTACT INFO. VERY INTERESTED IN YOUR LEADS |
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velecico
3935 Posts |
Posted - 08/28/2008 : 8:19:52 PM
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Wow , 45.00 per lead , people pay that ? |
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KSCOTTMIDACAP
101 Posts |
Posted - 08/28/2008 : 8:27:18 PM
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| If you can close loans, 45 a lead can be cheap.... |
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RGK2394
1213 Posts |
Posted - 08/28/2008 : 9:35:35 PM
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The two best companies we have worked with, and that have been probably the biggest benefit to ever coming on BO in the first place, have been Raymond at Best Rate Referrals, and Ian at ABC. Look them up on BO.
I've never used lending tree, but used lowermybills.com which is similiar fromw hat I understand, and closing ratio was horrible. And not to pat ourselves on the back, but we were all pro's with years under our belts and sales award after sales award. lowermybills were just high priced triggers, because all we were doing was competing with the other 3 turds who had either already called or were going to. |
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KHufford
5940 Posts |
Posted - 08/28/2008 : 9:40:08 PM
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Buying leads is for jokers, especially in this market.
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chmax7
470 Posts |
Posted - 08/29/2008 : 08:17:36 AM
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| I will have to check out Best Rate and ABC. Giving out leads is a must when trying to recruit LO's IMO. Who is the best for leads when it comes to Jumbo's? |
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FLProcessor
429 Posts |
Posted - 08/29/2008 : 12:07:19 PM
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velecico - were you kidding? If I had a conversion of even 10% on $45 leads, without the BS (truly qualified borrowers), I'd buy them all day long!
Malcolm -- what's the story, are these the type of leads that most cannot do, or a LMB sort of deal where you're lucky to get through to 20% of them, etc? This sounds pretty good, providing the devil *isn't* in the details :-).
PS - To the poster above who mentioned DMA - I can vouch for them, a great company. |
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RGK2394
1213 Posts |
Posted - 08/29/2008 : 2:17:22 PM
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quote:
Originally posted by KHufford
Buying leads is for jokers, especially in this market.
Buying leads pays our bills and puts decent coin in my pockets. |
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KHufford
5940 Posts |
Posted - 08/29/2008 : 2:31:26 PM
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quote:
Originally posted by mcamp60610
quote:
Originally posted by RGK2394
quote:
Originally posted by KHufford
Buying leads is for jokers, especially in this market.
Buying leads pays our bills and puts decent coin in my pockets.
Yes, most of the largest successful companies I've dealt with buy leads in the thousands and work them to the bone.
Yeah...places like Ameriquest. Chopshops. Sorry, I just personally hate "Leads"
I am all about relationship lending..just me. If you like leads, go for it - I used to call leads for years, finally they were cut off, and it forced me to network and build my own business - best thing ever to happen to me, so I reccomend that strategy to others..
Especially because right now the market is rife with opportunity to gain referral partners and create a niche with all the attrition.
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bbbbenny
231 Posts |
Posted - 08/29/2008 : 5:11:59 PM
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I've never purchased a lead in the context that they're being discussed here but whether you're getting your business from leads, Realtors, past clients, CPA's, CFP's or where ever, you could argue that we all buy leads in one form or fashion.
I'm 100% referral but I spend on keeping in touch w/ past clients, my existing referral partners and acquiring new ones. We're all paying it somewhere. |
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KHufford
5940 Posts |
Posted - 08/29/2008 : 5:15:43 PM
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quote:
Originally posted by bbbbenny
I've never purchased a lead in the context that they're being discussed here but whether you're getting your business from leads, Realtors, past clients, CPA's, CFP's or where ever, you could argue that we all buy leads in one form or fashion.
I'm 100% referral but I spend on keeping in touch w/ past clients, my existing referral partners and acquiring new ones. We're all paying it somewhere.
Kind of like that debate between h00kers and having a girlfriend/wife...you pay either way!
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clarenceworley
4200 Posts |
Posted - 08/29/2008 : 5:18:51 PM
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| I wish my leads were from my own blog/website....working on it. How about title co. leads? |
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bbbbenny
231 Posts |
Posted - 08/29/2008 : 5:33:23 PM
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quote:
Originally posted by KHufford
quote:
Originally posted by bbbbenny
I've never purchased a lead in the context that they're being discussed here but whether you're getting your business from leads, Realtors, past clients, CPA's, CFP's or where ever, you could argue that we all buy leads in one form or fashion.
I'm 100% referral but I spend on keeping in touch w/ past clients, my existing referral partners and acquiring new ones. We're all paying it somewhere.
Kind of like that debate between h00kers and having a girlfriend/wife...you pay either way!
Hadn't quite looked at it that way but there's definitely a correlation there in the amount of grief you have to deal with choosing one path or the other.....well, at least business is good! |
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mganovsky
2049 Posts |
Posted - 08/30/2008 : 4:52:57 PM
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Why are you buying leads from someone else; do what they do. Build a web site there are a number of mortgage web site companies that you can use Then put content pages in the web site with key words for the web spiders to find. Go with a pay per click company such as Google that will drive leads your way to any loan parameter you want, you can even just target specific States. You can also put in a dollar amount you want to spend each day and after you reach that limit it will stop.
Or become a premium member of the BO and use the tools to build your web site using the templates provided.
Our company does that and we have more leads than we can handle. |
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FLProcessor
429 Posts |
Posted - 08/30/2008 : 11:38:33 PM
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Malcolm,
They sound great; however, the reason I'm asked about about the quality of the leads, above, (and fear they may not be for us) is a result of our unique model.
We try to work on a high volume / low-price model (no commissions, all processors, very efficient/automated workflow). We focus primarily on A-deals at very low margins.
In my experience, this model does not go well with Internet leads. Don't get me wrong, we have no issue with calling 20 times until we get through to the evasive Internet applicants; however, in my experience, Internet inquiries are generally the more difficult deals.
Malcolm, would you say this is a fair assessment of your leads as well? |
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davidfr
1148 Posts |
Posted - 08/31/2008 : 2:06:01 PM
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quote:
Originally posted by KHufford
Buying leads is for jokers, especially in this market.
Kyle, you are a pretty smart kid, but you really aren't quite as smart as you think you are. |
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203k Expert
10 Posts |
Posted - 08/31/2008 : 2:36:26 PM
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Lower my bills is Mortgage Expo revised where they sell the leads up to 29 times
Lending tree is a bank and gets first pick, sells the lead in tiers, over and over if they don't close, to 18, then the next 18 and so on LOs |
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moneyone
626 Posts |
Posted - 08/31/2008 : 8:19:53 PM
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Lotta lead haters here....I wonder why????
True that networking gives good result but isn't talking to a person at the supermarket the same thing as a cold call??
They way I see it a lead can actually be used to build long term relationships with clients. I do it and works wonders. Most LO's just burn through each deal on leads thus no relationships were built since there are more leads on the way.
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nextwaveleads
5 Posts |
Posted - 09/01/2008 : 08:36:02 AM
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I have always found Internet mortgage leads aged from a week to a few months to yield a better return on investment. When you consider that you will only ever even reach about half of the $20 + fresh Internet leads it makes buying hugely discounted aged Internet refinance leads a super deal especially with the improved technology these days such as autodialers and email drip marketing.
Troy |
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sdecosta
71 Posts |
Posted - 09/02/2008 : 07:34:46 AM
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| I'm currently just finishing a campaign with abc leads, nice guys but so far no deals, we also tried raymond b(arm leads) also nice guy but no deals.Most people didnt fit credit and income qualifications. Im trying several new sources currently and will post my results. |
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Managing Prime
2801 Posts |
Posted - 09/02/2008 : 07:41:42 AM
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quote:
Originally posted by chmax7
I used Lending Tree at a prior company a few months back. I have to say the leads were not too bad. People were very receptive. Of course they were all rate/fee shoppers which was fine. Are there any other lead sites like Lending Tree where LO's have had a decent experience from?
I would suggest buying aged leads (20-45 days old) in batches of 1000+ at a time and hiring a telemarketer ($10+/hr) to dial through them.
This is going to be one of the most cost effective ways for you to get started on building a permanent marketing program. |
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sc312001
1047 Posts |
Posted - 09/02/2008 : 07:43:10 AM
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| The new company I am with has a 500 lead package for $1500. They are generated for us-exclusive & fresh. Many filters. Some come from local tv ads too. www.xemplar.com (temp site) |
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Xanthan Gum
909 Posts |
Posted - 09/02/2008 : 10:16:54 AM
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quote:
Originally posted by sc312001
The new company I am with has a 500 lead package for $1500. They are generated for us-exclusive & fresh. Many filters. Some come from local tv ads too. www.xemplar.com (temp site)
How have these leads been working out? |
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nextwaveleads
5 Posts |
Posted - 09/02/2008 : 10:21:38 AM
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With the harder times demanding more cost effective solutions and improved technology allowing loan officers to reach more leads with autodialers and then manage them with CRM solutions, aged Internet mortgage leads are looking more and more attractive. For $1000 you can either get the usual 50 semi exclusive leads at $20 that most sell or you could get 1000-2000 leads a month or two old. When you consider that buyer returns, duplicates, and lots of other invalid leads have also had a chance to be removed you ought to find aged leads outperforming fresh leads if you choose the right aged lead provider.
http://www.nextwavemarketingstrategies.com/aged-mortgage-data.htm |
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KHufford
5940 Posts |
Posted - 09/02/2008 : 11:06:37 AM
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quote:
Originally posted by davidfr
quote:
Originally posted by KHufford
Buying leads is for jokers, especially in this market.
Kyle, you are a pretty smart kid, but you really aren't quite as smart as you think you are.
Ahh...shoot! Are you serious? No way....serious?
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KHufford
5940 Posts |
Posted - 09/02/2008 : 11:15:19 AM
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quote:
Originally posted by mcamp60610
Play nice everyone...
But Malcolm!...He started it!
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davidfr
1148 Posts |
Posted - 09/02/2008 : 12:03:09 PM
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quote:
Originally posted by mcamp60610
Play nice everyone...
I usually play nice and for the most part I respect Kyle and think he adds a ton to this forum. It just seems relevant to add that everything he says, despite what he may think, isn't gospel. |
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KHufford
5940 Posts |
Posted - 09/02/2008 : 12:10:33 PM
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quote:
Originally posted by mcamp60610
quote:
Originally posted by KHufford
quote:
Originally posted by mcamp60610
Play nice everyone...
But Malcolm!...He started it!
Right...
Your sense of humor is uncanny, Malcolm...
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KHufford
5940 Posts |
Posted - 09/02/2008 : 12:23:20 PM
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Right...
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j.touch
208 Posts |
Posted - 09/02/2008 : 3:10:47 PM
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...im happy with my list even tho its farmed... but its targeted and scrubbed.. what can be better if your paying $.03 /per lead as you can pay $12.50/hr to telemarket and have them burn through them and upload results.
My theory is cold calling is better then buying other leads due to the fact
1) you have no control over initial contact
2) no control over quality
3) lots of flybynight lead shops
4)resold and reinitiated leads creates confrontation which give lo a bad rep
anyone care to add?
and throwing your realtors, financiers, etc one heck of a pary works |
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FLProcessor
429 Posts |
Posted - 09/02/2008 : 3:41:00 PM
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Jonathan,
What type of targeted (filtered) list are you buying for .03/per?
Your logic is spot-on, in my book. Despite that, I still think Malcolm's price-point for exclusive, guaranteed-contact leads, is awfully good, relative to the alternatives. |
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j.touch
208 Posts |
Posted - 09/02/2008 : 4:25:12 PM
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| am sorry typo $.06 + (.$.11 pending foreclosure filter) |
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Managing Prime
2801 Posts |
Posted - 09/02/2008 : 4:47:54 PM
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quote:
Originally posted by j.touch
am sorry typo $.06 + (.$.11 pending foreclosure filter)
Still worth it. What's your numbers?
www.closingprime.com/dialerproductivitycalc.html |
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FLProcessor
429 Posts |
Posted - 09/02/2008 : 5:14:52 PM
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| Sounds like SalesProspects data? |
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j.touch
208 Posts |
Posted - 09/02/2008 : 7:24:27 PM
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| ask your local title company (not small shops something like liberty title) see if you can get it... no not sales prospects.... just negotiate with the area vp |
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sc312001
1047 Posts |
Posted - 09/03/2008 : 06:39:56 AM
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quote:
Originally posted by Xanthan Gum
quote:
Originally posted by sc312001
The new company I am with has a 500 lead package for $1500. They are generated for us-exclusive & fresh. Many filters. Some come from local tv ads too. www.xemplar.com (temp site)
How have these leads been working out?
The Nashville test market has been having success with them. They are not re-sold or anything. They are fresh. It is a Van Dyke net branch there. |
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sc312001
1047 Posts |
Posted - 09/03/2008 : 5:48:23 PM
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I am sorry, Malcolm. I went back & edited the original post typo.
Site is www.xemplarmtg.com |
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sc312001
1047 Posts |
Posted - 09/03/2008 : 5:49:12 PM
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I am sorry, Malcolm. I went back & edited the original post typo.
Site is www.xemplarmtg.com |
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benjamin
2196 Posts |
Posted - 09/03/2008 : 6:48:12 PM
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Should be 'Cherry tree' . What you get is leftovers.
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FLProcessor
429 Posts |
Posted - 09/03/2008 : 7:27:42 PM
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| What should be 'cherry tree'? Who gets leftovers? I'm confused? |
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raymondb
4131 Posts |
Posted - 09/04/2008 : 6:20:53 PM
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leads leads leads......what a great topic...lol. Thanks Rick for the shout out...
When looking to buy leads you should really determine the demographics of where you are targeting, as well as the saturation of the different forms of leads and marketing that are out there. This will determine what is working best and what is not.
I really pride my company on the fact that we offer every major type of marketing EXCEPT internet elads whcich this thread once agian proves are usually garbage anyhow. So with that in mind I fyou need a consultation on what you should be doing in your market please let me know. I can give you pros and cons of all we offer. Take a look at the site below to see all we offer and if you have any more queesitons please fire away...
www.bestratereferrals.com
quote:
Originally posted by RGK2394
The two best companies we have worked with, and that have been probably the biggest benefit to ever coming on BO in the first place, have been Raymond at Best Rate Referrals, and Ian at ABC. Look them up on BO.
I've never used lending tree, but used lowermybills.com which is similiar fromw hat I understand, and closing ratio was horrible. And not to pat ourselves on the back, but we were all pro's with years under our belts and sales award after sales award. lowermybills were just high priced triggers, because all we were doing was competing with the other 3 turds who had either already called or were going to.
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FLProcessor
429 Posts |
Posted - 09/05/2008 : 06:30:30 AM
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I wouldn't say this thread proved that 'net leads are bad - and based on the posts here, Malcolm appears to have a product that is quite different from the Internet leads that suck. I can't say first had, but based on my experience with Internet leads, he appears to have addressed many of the issues. Those issues, to benefit the original poster, btw, are generally: underqualified/expects the world, won't return your call / becomes scared of all of the brokers calling them, if they do speak to you (and the numerous other brokers calling them) they will expect a rate that is about 1/2% below par, with no closing fees (because they've been bait-and-switched) so bad.
I just realized we've gone off the OP and tried to respond a bit on-point for his benefit.. |
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raymondb
4131 Posts |
Posted - 09/05/2008 : 06:43:04 AM
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I have been in marketing for over 5 years and In that time I have not seen one internet lead company withstand the truth this board brings out. Instead its been come and go for hundreds of companies......my opinion is based merely on facts that I have seen on this site and many many others. Read the earlier posts in this thread more than one person bashed internet leads.....so its not just MY opinion. Now if Malcom you are different like i said with myself when i got here 2.5 yrs ago...."time will tell"
quote:
Originally posted by mcamp60610
quote:
Originally posted by raymondb
I really pride my company on the fact that we offer every major type of marketing EXCEPT internet elads whcich this thread once agian proves are usually garbage anyhow.
What a balanced, unbiased opinion Raymond...
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Jkatz
355 Posts |
Posted - 09/05/2008 : 06:49:19 AM
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Everyone knows that Internet leads ARE THE BEST.
Borrowers are doing the searches, and not the other way around.
THEY are looking for YOU. You don't need to convince them to do anything because they're already convinced. They're just looking for the right product/fees/rates.
The problem is that LMB and Lendingtree like to sell their leads to 3-4 brokers.
You need to find a lead provider that will sell you exclusive leads with social security numbers/date of birth. |
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raymondb
4131 Posts |
Posted - 09/05/2008 : 06:55:38 AM
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Jason, your right If those companies existed or if the traffic was coming to YOUR site, most just don't have this so they buy them...bad choice in MHO becasue of hte saturation you are speaking of....
Thats is why I think a company is so much better off genrating their own inhouse leads than buying internet stuff that is sold over and over by that site. Not to mention the other sites that same home owner put his info on. It's a never ending battle. Direct marketing is by far the best way to market, filter a list and go at it. Keep in mind that a very high percentage of internet shoppers have already been turned down by local broker or bank. Your buying turndowns in a lot of cases. that is just hte reality of buying internet leads. If you generate them yourself you would much better off.
quote:
Originally posted by Jkatz
The problem is that LMB and Lendingtree like to sell their leads to 3-4 brokers.
You need to find a lead provider that will sell you exclusive leads with social security numbers/date of birth.
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