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How to Sell Mortgage Leads
For companies that collect more leads than they use, learning how to sell mortgage leads can be a way to generate extra income. There are a number of reasons why a company may have unused mortgage contacts. Some may have received responses from individuals who do not meet their lending criteria, while others may simply have had a great response from a lead generation drive and lack the resources to follow up with each of them. Sometimes, individuals may go through an indifference period after they compare mortgage rates, leaving you to wonder. If your company finds itself with a bounty of leads, finding a source through which to sell them is simple and straightforward.
The first option, and probably the simplest, is to sell your leads to a third party list seller. These brokers compile lists of contact names to be sold to other mortgage brokers and agents. Given the volume of names they require, they are always open to purchasing new names from any source. The quality of the leads you provide them with will determine their price. If your leads have been qualified and shown to be active, you will fetch a higher price than you would for those gathered through a marketing incentive plan. When approaching these companies, have all the information on where the leads came from, where they are located and how you found them available to help negotiate a price.
Some companies choose to deal directly with other lending institutions when selling their leads. Though this can take a bit more time and may require that you approach a few different potential clients, you will generally be able to charge closer to the retail price per lead, which may be as much as $50. If you will be dealing directly with a competitor, be prepared to supply the same information you would to a list broker. In addition, some may insist that you guarantee a minimum conversion rate before a sale is made. This is standard practice in the industry and something that you should entertain.
Those lending institutions that accumulate more contacts than they need, can sell mortgage leads to create another lucrative revenue stream. In most cases, these sales are easy to broker and can be negotiated by your marketing department.