Hi,
I'm doing another little research project and need your help again. You were all so awesome on giving me perspective on the last homework assignment that I thought I'd come here to get input on this one too (especially since I have no experience with this particular subject). I need to find out what mortgage brokers think about live transfer leads - are they working for them? Are they worth the investment? Is there any 'gotcha' to watch for?
Thanks so much
"Is there any 'gotcha' to watch for?"
No Gotcha, but as I recall, there's a Gurbachan, Gurmeet, & Gursharan...
Yes, I did these for awhile. The only people I got were people who needed a miracle, not a loan.
I'm located in MN, so it might be a different market, but is was NOT worth the money. I had better results with local court house leads and hiring a person for a few hours a day to contact people. I send out a flyer w/ there current mortgage situation before hand and have a person call on it, works good!!
I would have to agree with some of the above posts, they work good in some markets and some areas and not so good in others. I have used voice broadcasting live transfers for years and love them. They are very affordable and if you load specific data they are even better. We actually allow real estate agents to use our voice broadcasting system to generate buyer and seller leads. They do not pay any per minute fees, no per line fees and no long distance. Live transfers can be very expensive 30-100 each and voice broadcasting can get expensive if you are dialing on multiple lines and paying per minute fees. It will depend on your market and price point whether you are profitable or not
We allow agents to use our voice broadcasting system as long as they allow us to complete the mortgage portion of the transaction. We used to give this to agents for free but with no vested interest our closing ratio was horrible. We now charge a flat fee of $6.50 / transfer this is dirt cheap. Since we started charging this $6.50 our closing ratios have skyrocketed.
At $6.50 each if you could close just 1 out of 100 you are making great money.
if you closed 1 out of every 800 hundred transfers you are still making money $5,200 cost - $5,500 commission = $300 profit
LOW RISK / HIGH REWARD
Buyers Strategy:
Use a generic list or load a list of renters and broadcast a message to them. "Stop renting! Interest rates are falling and home prices are at record lows, its a great time to buy before prices start to rise again! To speak with a real estate agent about becoming a proud homeowner please press 1..." (or whatever message you want)
Listings Strategy:
Load a list of homeowners who are currently 30,60 or 90 days late on their mortgage and broadcast a message to them. "Our records indicate that you are late on your mortgage, to speak with a real estate agent about lowering your payments or possibly selling your home please press 1..." (or whatever message you want)
If they press 1, the call is automatically transfered to you.
You can manage, start and stop, increase volume, etc., all from our online management system. For a DEMO of this system please email me: elw@wingfieldmvp.com
Our system is expandable up to 10,000+ lines so we can accommodate single agent users, entire offices or provide 100s of leads a day forwarded to call center. Just allow us to complete the mortgage portion!
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