Mortgage Lead

A mortgage ‘lead’ is a prospective customer seeking loan by mortgaging his property such as house or car. Financial institutions, banks, credit card companies, or money lenders want business which primarily runs upon lending money from which they earn interest. They therefore try to contact the prospective loan seekers and the information leading them to the loan seekers is called ‘lead’. The term ‘lead’ has now come to be associated with the customer for loan himself.

Competition and Leads

Since there is huge competition in the money lending market, some persons or organizations specialize in identifying and contacting the loan seekers and sell the information about them to the money lenders. These organizations use advertising through various media including internet, websites, emails, telemarketing and personal contacts to identify the loan seekers.  The money lenders, brokers and other financial institutions purchase the ‘leads’ from the lead generators and pay them per lead. The cost of the lead depends upon the nature, amount of loan and reliability of the intent of the loan customer. It may, therefore, range from five to forty dollars or even more per lead.

Mortgage Leads in Australia

Like everywhere else, there are mortgage lead generators in Australia as well. One such lead generator is Mortgage Leads Australia whose advertising methods include internet marketing also since a growing number of Australians are resorting to Internet to research thoroughly to make their financial moves. Mortgage Leads Australia and its peer companies source and distribute the quality mortgage leads to quality mortgage money lenders and brokers throughout Australia. Some of these companies generate 2000-3000 quality leads per month and their conversion rates are usually quite high.
As in every business, malpractices and frauds have crept in mortgage lead generation and distribution business as well. Sometimes, non-serious leads are sold to unsuspecting brokers and money lenders. The same lead is sold over and over several times. The shrewd brokers, therefore, accept only those leads with whom they can talk live on telephone. According to a broker, his definition of an exclusive mortgage lead is: the prospect is talking with me and only me.