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Is there a better way to generate mortgage leads? Maybe the Web 2.0 way? Lead Critic explores what a new mortgage lead generation business plan might look like.

Technorati Tags:
Internet leads, lead critic, lead generation, leads2007, social media, social networks, Web 2.0

Todd Webster of Closed and Funded has started the discussion on building a better sales approach to maximize your relationships.

Todd reflects on the “tune and burn” techniques that have scorched our clientele and left our industry scared with mis-trust:

I have found that consumers tend show no loyalty to their brokers any longer. I believe that this is directly the brokers fault. By focusing on profits and ignoring their clients they have built up the resistance to return to the same place that “helped them out”. Referral and repeat business is the best business and no lead on the planet is able to come close to it.

However, I believe that when a purchased lead is harvested correctly, that when a broker ceases to concern himself with his own good and begins to focus on the wants and needs of the client. When calls are answered and not shuffled off to processors or voicemails for follow-up at particular times. When 1003’s and disclosures are explained correctly and completely. When brokers forge a bond with their clients they have the ability to take that one purchased lead and correlate it into 2 or more deals. The break the bank attitude is a concept of the past and the greed generation will have to come to grips that clients are nostalgic for the good old days when they felt like they could trust their brokers and bankers.

Maybe this has something to do with the Dave’s observation over at Mortgage Broker Coaching:

I will never forget a mortgage broker conference that I attended about 6 years ago. I was looking around the room and I felt like I was attending a conference of thieves, drug dealers, pimps, thugs and every other snake that might come crawling out from under a rock.

They drove fancy cars, had expensive watches, had the latest $1,000 suits, smoked the finest cigars, had beautiful women on their arms. Yeah baby! The mortgage business rocks man!!!

They came….they messed up the place…and now they are looking for another fast easy buck (industry) to support their inane existence.

How do we bring back the Trust?

Technorati Tags:
todd webster, trust, mortgage broker, closed and funded, mortgage broker coaching, trusted adviser, leads2007

1. Lead Return Format
2. Data Interchange between Product, Pricing, and Eligibility Services
3. Data Interchange between Loan Origination Systems
4. Market Orders
5. Lead Transmission Format

Thoughts?

Technorati Tags:
Internet leads, lead management

Have you ever tried to determine the size of the Internet lead buying community? I would suggest that it is very small relative to consumer inquiries the occur online. And a large part of that smallness is borne of frustration.

Consumers flow willingly and actively to the Internet channel, yet our industry has erected artificial barriers (e.g., lack of lead standardization, proprietary delivery methods, returns via CSV files, lack of positive feedback loops, etc.) to delivering a compelling experience to consumers, lead buyers, and yes to the lead suppliers as well.

I can’t wait to start lifting this attitude and changing this pattern at Leads2007!

Technorati Tags:
Internet leads, leads2007

On Facebook: Mortgage Lead Buyers, Leads2007 Event
On LinkedIn: Groups is currently down on LinkedIN so if you want to connect put your profile link (Bill Rice) (and email [bill dot rice at kaleidico] if inclined) in a comment to this post
On Twitter: Leads2007
On LeadCritic: LeadCritic Forum
On the Wiki: Leads2007 Wiki
On the Blog: Leads2007 Blog

Technorati Tags:
leads2007, social media, social networks

As Leads2007 quickly approaches it is time to begin preparing. The unconference format is very different and these differences can make it a very valuable experience for all participants. Much of this valuable experience delivery sits in the hands of the session leader.

It is critical that each leader understands the ground-rules and their very important role in providing a quality experience.

What it isn’t?

• No sales pitches
• No 45 min PowerPoint decks
• No expert panels
• No spoon fed top 10 silver bullets
• No Q&A sessions
• No ties

What it is?

• A discussion. Think a blog or online forum
• Discussion leaders are like reporters researching a story
• Discussion leaders are also the editors–they can cut a conversation if the point has been made or if someone begins a commercial
• Everyone participates, and may be asked direct questions (better pay attention)
• Time is limited, so make your point and keep it moving
• Prepare. Read the Leads2007 blog and others that are writing about these topics
• An opportunity to get exactly what you want–you’re the conference
• On the record. There will be bloggers, podcasters, and media
• Informal. Wear your favorite t-shirt–my Dogs Playing Poker shirt is neatly pressed and ready
• The University venue was chosen by design–think big, be provocative!
• Lot’s of fun!

Now specifically for the session leaders:

• Start the discussion now. If you have a blog, start blogging. If not find one to comment on or engage in a forum or use slideshare.net
• Think of the session as a blog
• Use a couple of slides or a few introductory comments (5 min or less) to get the discussion rolling
• Pepper the audience with questions
• Call on specific people
• Introduce people in the audience that you think have experience on a topic
• Be provocative!
• Take a contrarian view
• Have fun!

Things are taking shape and moving very quickly. This is guaranteed to be the smartest and biggest ROI event you attend this year. Here are some highlights:

• We have commitments from top 10 originators like American Home Mortgage and smaller Internet origination powerhouses like Equity Direct Mortgage and LEI Financial
• Lead generation innovators like: “hot transfer” luminary Joey Liner of DoublePositive, LeadPoint founders of the lead exchange
• A couple of other smart guys in my space–lead management–Charles Chase and Doug Davis of Leads360.
• Leadership behind some of the biggest Internet media companies like: Oversee.net
• Several solid, consistent, niche lead providers that provide a variety of lead types like: ConsumerTrack and JuicyLeads
• There are also several journalist, new media, and venture capitalists sniffing around the event too–come on in folks and get a strong pulse on the current state and where things are headed.

So, regardless if you are trying to figure out how to successfully start buying and converting Internet leads or you have ideas on how to revolutionize the Internet lead buying and selling marketplace there will be the discussions and leadership at Leads2007 to make an immediate impact on your goals.

Don’t forget to

Technorati Tags:
leads2007, lead generation, lead management, mortgage lenders