What You Need to be Successful When Buying Mortgage Leads

The #1 Rule of Lead Buying: Consistency

Jimmy stressed the importance of sticking with one or two lead sources and doubling down on what works.

“Don’t jump around every month,” he said. “Build a relationship with your lead provider, and you’ll get better service and better leads.”

What You Need Before You Buy Leads

Lead buying isn’t for the unprepared. Here’s what you need to have in place:

1. A CRM That Works for You
   Your CRM is your best friend when it comes to lead nurturing. Choose one that’s easy to use and comes with pre-built templates. Jimmy recommended CRMs like Bonzo, Shape, and Relku.
2. A Strong Landing Page
   This is where leads go after clicking on your ad or rate table. It needs to be mobile-friendly, modern, and optimized for conversions. BankingBridge can handle this for you, so you’re not stuck building it yourself.
3. A Realistic Budget
   Plan to spend at least $2,000–$3,000 per month. If you can’t afford that, wait until you can. Trying to scrape by with a few hundred bucks won’t get you anywhere.

Jimmy’s Playbook for New Mortgage Brokers

If Jimmy were starting a mortgage company today, here’s what he’d do:

1. Run Lean
   Keep your expenses low. Don’t hire support staff or spend on unnecessary tools.
2. Invest in Rate Tables
   Use a service like BankingBridge to display competitive rates and generate high-quality leads.
3. Focus on Conversations
   The first goal isn’t to close deals—it’s to start conversations. Measure success by how many leads engage with you, whether it’s through email, text, or phone.
4. Go All In
   Commit to a lead provider and push hard for results. If you’re spending $3,000 a month, aim to generate 50–100 leads and get at least 70% of them to engage with you.

Pro Tips for Converting More Leads

Buying leads is just the first step. Here’s how to maximize your ROI:

1. Send Personalized Video Messages
   Stand out by sending short, personalized videos to your leads. Introduce yourself, share why you’re different, and make a real connection.
2. Follow Up Strategically
   Jimmy recommends a three-part video follow-up:
   • Video 1: Introduce yourself and explain why you’re reaching out.
   • Video 2: Offer a second opinion or invite them to explore your services.
   • Video 3: Provide a valuable tool, like rate alerts or a homeownership app, to keep them engaged.
3. Nurture the Long Game
   Not every lead will close today—but that doesn’t mean they’re a lost cause. Use tools like Finlocker or Homebot to stay top of mind and nurture them for future opportunities.

Why BankingBridge Stands Out

If you’re serious about lead buying, BankingBridge is a no-brainer. They handle everything from landing pages to rate displays, helping you convert more leads without the headache of building it all yourself.

“We’re not just a tech tool—we’re a partner,” Jimmy said. “We make sure your leads are high-quality and your landing pages are optimized for conversion.”