The Right Mortgage Lead For The Right Loan Officer

If you are a mortgage broker or loan officer on the market for mortgage leads, you must first decide which mortgage lead is best for you.

For starters, you must first determine what your budget is. If it is not very much, you may want to keep an eye out for the mortgage lead companies that have low minimum deposits along with some free extra's such as filters.

Here are a few different mortgage lead type scenarios.

There is the real time mortgage lead which can be purchased fresh. Typically, these mortgage leads are hot off the press and should be no more than a few hours old when you purchase them.

Also, these types of mortgage leads should be obtained by the mortgage lead company through web sites they own and operate. Otherwise, you may want to question the freshness of the lead.

There are also aged mortgage leads and these types of leads can be purchased in bulk at a discount for as low as pennies per mortgage lead.

However, when buying in bulk, you are playing a numbers game. You should not expect a slam dunk on every mortgage lead.

For instance, if you buy one hundred leads at fifteen cents per lead, you should not expect to take more than three applications from this, but your return on investment will be great!

Basically, the type of mortgage lead you want to buy is up to you as well as the approach you want to take. But remember, it is important to do your homework and research the mortgage lead company you are considering.

Doing your homework cannot only save you money but it can make you money as well.

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Dollar Drink Night: Boozing With Coworkers Could Help You Financially

There's a group in every office. They hit the nearby watering hole for happy hour once or twice a week after work to vent shared frustrations, talk about the boss behind his back, maybe even plot future career moves. Thumbing your nose at this carousing crew? Think twice, turning down an invite to grab a post-shift drink might be hazardous to your financial future.

A recent study published by The Journal of Labor Research shows that drinkers earn 10 to 14 percent more than those who avoid the bottle altogether. The reason? The study contends it's something called social capital. That is, the more you're out enjoying a drink, the more people you meet. The more people you meet, the more doors that are opened for you professionally. And as is the general rule in the business world?it's not what you know, it's who you know.

The study contends that specifically, it's drinkers who hit the bar that see the most benefits financially, as opposed to those who tip the glass at home. It's all about social capital, which the study defines as ?a person's social characteristics, including social skills, charisma, and the size of his Rolodex, which enable him to reap market and nonmarket returns from interactions with others.? Drinkers who hit the bars have a lot of it, drinkers who sip alone have a little less, nondrinkers have less yet.

The study argues that it's possible that abstainers may steer clear of social occasions involving drinking, and if not, they will socialize with other nondrinkers or less social people. It's also possible that abstainers might be considered boring by drinkers, and not be invited to a gathering at all. Those who drink socially may have an easier time attaining a higher paying job or reinforce bonds with coworkers or associates who could have a direct impact on salary. Though the reasons behind nondrinkers? lack of social capital weren?t specifically tackled in the study, one thing is clear'drinkers earn significantly more than those who abstain.

For example, female drinkers pull in 14 percent more than their nondrinking counterparts. Men who hit the bottle regularly earn 10 percent more than guys who stick with soft drinks.

The pot gets even sweeter for males who hit their favorite watering hole on a regular basis. Men who visited a bar at least once a month earned an additional 7 percent over the 10 percent advantage. That isn?t the case for women barflies, however. No marked advantage was shown for ladies who visited pubs regularly over those who did not.

Though not sponsored by any interests in the alcohol industry, the study was conducted as a response to recent anti-alcohol campaigns on college campuses, limits on alcohol advertising, and tax increases on liquor. Authors of the study contend that since their research shows that drinkers earn significantly more than nondrinkers, perhaps attempting to discourage drinking in society might have a negative impact on our ability to earn.

So next time your cubicle partner asks you to join the crew for a drink after work, think twice before you pass. According to the stats, it might be to your benefit to say ?First round's on me?.

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Make Money With Mortgage Leads

When it comes to mortgage leads, your ultimate goal is to make money. Mortgage lead companies can provide you with a lead. The rest is up to you.

For starters, finding the right lead company is key. Be sure to do your research and find a mortgage lead company that sells good quality leads. Not the type of leads that are recycled, or bought from third party companies and resold over and over again.

When calling a prospect on one of your mortgage leads, you may at some point be confronted with the challenge of an objection from your customer. This in no way is a reason to abandon the lead.

Some of the challenges you may be confronted with, are as follows.

?I am no longer interested.?

If the prospect hits you with this line, chances are they got cold feet. This is understandable due to the fact that purchasing or refinancing a home is a very large financial undertaking.

Say something like this.

Oh, I'm sorry to hear that. After reviewing your on-line application, I was able to fit you into a really nice program based on the information you provided.

Nine times out of ten, this will catch their ear.

Another challenge you may come across is that they are working with someone else.

This could be true if you are purchasing your lead's non exclusively. Most lead companies will sell their leads four to five times.

If you are confronted with this challenge, say something along these lines.

Oh, I'm very sorry to hear that, I have a really great program I'm sure you would be interested in. If you have just one moment, I would be happy to go over it with you.

This approach will normally get them thinking and want to hear more. Make sure they understand the importance of shopping around in this industry.

If neither one of these approaches works with the challenges you are faced with by your customer, then send them an e-mail. Most lead providers do provide the address on the lead.

You may also want to mail them out some brochures about the products and services you have to offer.

Remember, you work hard for your money, so work your leads. Don?t give up after the first objection, and your closure ratio will be sure to go up.

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Mortgage Leads, The Approach To More Closed Deals

If you are a loan officer or mortgage broker that is thinking about buying mortgage leads, remember that your salesmanship has a lot to do with the end results of the mortgage leads you purchase.

If you are dealing with a good reputable mortgage lead company that delivers good quality mortgage leads, than you are off to a great start.

However, your approach to your potential customer can have a lot to do with the end result of the mortgage leads you buy.

For instance, once you receive a mortgage lead, call the person immediately. Don?t let the mortgage lead sit around on your desk for a day, let alone an hour.

Especially if you are buying your mortgage lead's non exclusively. Most mortgage lead companies will sell their non exclusive leads up to four to five times. So by taking your time and waiting to make contact with your new customer, you are allowing your competitors to get a jump on you.

Also, don?t be discouraged by an obstacle. If a potential customer gets cold feet and shows disinterest, don?t be overcome by the challenge.

Place yourself in the shoes of your customer. Buying or refinancing a home is a huge financial deal in the life of your customer. Most likely the largest financial transaction they will ever make in their life time.

For this reason, it is very important that they find a comfort level with you.

In the beginning of the conversation, do most of the talking. Keep in mind that you are the expert.

Say something to this effect in with your opening statement:

Hello Mrs. Jones, My name is Bill Jones and I work for ABC mortgage company. I'm calling in reference to the on-line application you posted on the internet, and I have some great mortgage products I believe you may be interested in. Would you mind if I took a minute ot two of your time to go over them with you?

Nine times out of ten they will be happy to listen because you have taken the pressure off of them.

Whatever happens, do not give up just because you are faced with one objection. There are a few other avenues for you to go down.

Send them an e-mail with a briefly describing your mortgage products, or send them out a mailer explaining the benefits of the mortgage products and services you have to offer. And, don?t forget to throw in some of your business cards.

Do everything in your power to get your mortgage products in front of them either verbally or through mailers and e-mail, and you can be sure your closure ratio will go up.

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