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2 min read

3 Ways to Generate Cheap Mortgage Leads

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You’re probably here because you’ve purchased online mortgage leads before. You’re also probably here because like others, you’ve seen that they don’t always work out the way we all think they should.

One issue is that they can be sold multiple times, to several other people. This makes it highly competitive and difficult to get any response, much less business from these leads. 

Another issue is they aren’t always delivered in real time -- You have no idea if this person submitted that lead form right now, today, or even this week. 

There is also almost no transparency on what that potential client was submitting; they may not have even realized they submitted a lead form. You have their name and contact information, but are they hoping for you to reach out, or even expecting it?  

You could be spending $30 - $100, thinking a lead is awesome, and end up reaching out to someone who never answers their phone, or isn’t even in the market. This all adds up to a negative experience for you. 

The best way to end this cycle is to take control of the lead generation process --Create your own leads. You don’t have to go out and build a complicated, fancy website, or build and pay for a complex marketing program to do this. 

Here are three simple ways to set up a lead generator for you to start creating your own leads, and really take control of your own business. These methods give you control, and you’ll be able to see all aspects of your system, showing you what lead generation process is most effective for you. 

Remember: you don’t have to be spending hundreds for any of these to work. 

1. Start with a very simple retargeting campaign. This can be done easily through Facebook in just a couple of hours. For this retargeting, you can use any type of list you already have, whether that’s old leads you’ve purchased, your past customers, credit turndowns, or prospects. Take all of these people and put them into an online retargeting system that shows them your ads everywhere they go, breathing new life into these old leads. 


2. Take the same list you used for retargeting, anyone you have some information for like name and address or name and phone, and you can buy the rest of the information for that person, so that you have a complete database. Once you have all of the information, you can put all of these contacts into a campaign like a postcard campaign - you bought the addresses for all of those contacts, and you send them a physical post card to remind them of your name and relationship. You can also set up an email drip campaign - you obtained everyone’s email, and now you can send them regular email reminders. Campaigns like this can be set up easily through most CRM programs. Campaigns like these create a way for your database to be responding to you. 


3. The most effective tip is to take all those same contacts and set up a database monitoring system. This will monitor everyone you put into it, and let you know when those people are back in the market. You can get alerts several different ways, such as when someone applies for a loan or lists their home for sale. This is the easiest way to see who really is in the market, giving you the perfect opportunity to reach out through phone call, email, text, whatever you prefer. 

There is no need to be spending hundreds buying leads that may or may not pan out. For information and help with data clean up, email support@monitorbase.com

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