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Leads Groups - Do they work in the Mortgage Industry?

By
Mortgage and Lending with Primary Residential Mortgage Inc.

Trying to keep up the momentum of my newly found advertising experience, I attempted to join a leads group today.   For those of you unfamiliar, the concept is pretty awesome.   You find professionals from every walk of life, meet once a week, and exchange ideas and more importantly, leads.

 

The reason I decided to join this group was because a friend told me about a recent vacancy of a mortgage professional.   I heard that the woman decided to get out of the industry and move to another state, so I thought this would be a great opportunity.

 

I showed up to the lead group to find 3 other mortgage professionals in the group.   A total of 10 people in the entire group, and 4 were mortgage brokers or lenders!   Wow, this should be fun, one lead a month to share between 4 people?   Does one person get the lead and we all get to share the commissions?   Should I politely pack up my stuff and wish them all luck because there are way too many cooks in this kitchen?  Nah, let me hang on for a while and get a better idea of what it is all about.

 

Each member of the group gets a minute or two to discuss what they do for a living, what makes them unique, why we should send them leads, and their perfect customer.    Some really good people to network with.   A financial planner, realtor, painter, home improvement guy, title rep, advertising rep, a printer, a computer guy, an accountant, and 4 mortgage professionals.   Remove the three other mortgage guys in the room, and this is the place to be.   Unfortunately, that is not the case.

 

Several leads changed hands and I actually had two that I held on to because I didn't want to look like I was sucking up.   I figured I would wait until next week and see if one or two of the others bailed.    I love poker, I will continue to raise with a 7 high if I know I got a shot at winning.   So for now, I am sitting back watching the table and waiting for someone to tip their hand. 

 

 

David M. Childress
Howard Hanna Real Estate Services - Akron, OH
I would love to be your Realtor® in Akron Ohio!

Sounds like they tried to stack the deck, here in Akron, Ohio our groups are limited to one member per profession.....hold 'em.......

Jul 24, 2008 03:05 PM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Tim

Do leads groups work. The answer is yes if you consider your networking in the leads groups as part of your marketing program. As in any marketing it takes a commitment, a consistent effort over time.

Good luck and success

Lou Ludwig

 

Jul 24, 2008 03:11 PM
Anonymous
Terri in Idaho-ONE Leads Group International

Hi Tim,

Leads groups work better if there is only 1 person per profession. That is how we do it in ONE Leads Group. I encourage people who get involved to consider it as part of their advertising budget, and be prepared to stick it out for a year to see where that gets them. Best case scenario, you end up with a lead a month...o.k. how many leads does it take to pay for your dues? Worse case scenario...you end up with a lead every other month or so, but you have relationships to last a lifetime.

We have had people who leave the group that still work with people they met in the group 8 years ago!  That is a great testimonial.

I am the Founder of ONE Leads Group International, and if you are interested in learning more about starting your own leads group and putting together your own team of professionals to work with, let me know and I'll give you a call and we can chat more about it.

Make it a great day!

Terri      208-442-7777     www.oneleadsgroup.com

 

Oct 06, 2008 05:52 AM
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