Why Lenders Prefer Exclusive Mortgage Leads

by Tomi Pironti

You may consider buying mortgage leads from an outside agency. Before you do, check to see what type of leads you’re buying. Mortgage leads are sold to only one loan officer, but nonexclusive leads can be sold many times, reducing their value. Naturally, lenders prefer exclusive mortgage leads. Here are three reasons why:

1. Exclusive Leads Mean Less Competition

When you use exclusive mortgage leads, you won’t have to worry about competing with other loan officers. Otherwise, you risk contacting the same lead as several of your competitors, thus reducing your chances of converting that lead into a client.

Think about what this means for the client. Many home buyers are in the process of shopping for a home loan. These individuals may not respond well when contacted by multiple loan officers. You could inadvertently make the client feel pressured, damaging your public reputation. 

On the other hand, exclusive leads connect you directly to the client without having to elbow your peers out of the way. This approach allows you to proceed at your own pace and put your clients’ needs first.

2. Exclusive Leads Offer More Control

Your relationship with your clients is driven by the competition in many cases. You spend your time keeping the client happy, fearing that otherwise, the client may abandon your services for one of your many competitors. 

As a result, you might get “stuck” with a client who consumes your time and always seems to expect more than you’d prefer to offer. 

Exclusive mortgage leads put you in the driver’s seat of the relationship. Since you don’t have to share the lead with multiple other lenders, you get to set the terms of the client relationship. 

You define the expectations based on your own experience or unique industry niche. Therefore, exclusive leads mean more control, less stress, and total command over your business relationships.

3. Exclusive Leads Ensure a Better Relationship

You’ve probably had the experience of playing second fiddle to the client’s real estate agent. Once the sale is complete, the client doesn’t remember you. If they do, it’s only as “the lender that our real estate agent recommended.” 

When helping clients with their mortgages, there will always be a triangular set of relationships: the client, the realtor, and you. But exclusive mortgage leads allow you to be the leader in this set of relationships. This positioning is important because when the client has a potential referral, they’ll contact you and not their former realtor.

Make the Most of Your Mortgage Leads

Managing your mortgage leads can sometimes feel like a full-time job in itself. But it doesn’t have to be. Many industry professionals are using customer relationship management (CRM) software to stay organized and on top of their core processes. 

The BNTouch platform offers an all-in-one solution, ensuring that you stay in control of your business and match your clients to the services you provide.

Request a demo today, and see how BNTouch can change how you serve your clients.

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Tomi Pironti
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