Some of you are mad as hell!
We received a slew of comments about your experiences in working with lead generation companies; bogus leads; no refunds as promised; and a laundry list of problems.
One of our readers was kind enough to forward an email received from LeadBull.com about the inner workings of where their leads come from, why a high percentage of THEIR leads are bogus, and that they refund money back for bad leads.
However, and it's a BIG HOWEVER, we have heard from many subscribers that even though the lead generation companies make the "refund guarantee claim", loan officers have not been receiving their money back.
One last note - pay particular attention to the sections highlighted in YELLOW.
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Dear Valued Member ~
First I would like to thank you for your business and support of LeadBull.com. Your business is very important to us.
Over the past week we have experienced a higher level of bogus leads hitting the LeadBull distribution system. I would like to take a moment and explain how LeadBull works as a system and how these bogus leads are a temporary nuisance to us all.
LeadBull.com is a lead generation distribution system. We do generate about 35% (soon we plan to generate about 75%) of the 40,000 leads we get per month. The other 65% is made up of vendor leads and marketing company contributions to the system. These "vendors" give us leads to place on LeadBull. If that lead they give us is sold and is not returned to us by you, our member, within 72 hours, they get a commission on that sale. If you report that lead as being bogus, we credit your account back and deduct that commission from the vendors amount owed. The vendors are required to provide us with quality leads or they do not get paid.
We have over 8,000 members like yourself, so it is very important that we keep up with supply and demand and allow new companies to share their leads with you and us. Occasionally we will get a lead vendor who dumps a bad batch of leads on the system. When you report those bad leads to us with the lead ID numbers included, it allows us to find that lead batch and delete those leads and close the vendors account with us.
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Do the math with me.
So with 8,000 members at 40,000 leads per month, that's 5 exclusive leads each.
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With Leadbull.com your money is safe. We will make certain you do not pay for bad leads. With so many dishonest lead providers on the internet we act as monitoring system to keep transaction honest.
The bogus leads will always be a part of every lead batch you buy on the internet. Whether or not the company you buy from works to correct the situation is what we feel is important. If you find a bogus lead, please log in to your account and click on "Report Bogus Leads" we will credit you back the same day.
Again I would like to thank you for your business.
Jayson W.
CEO - LeadBull.com
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Comments from the Publisher.
So, Loan officers unite. If they already know that a certain percentage of their leads are bogus, why don't you "hold back" a dollar amount when purchasing the leads? It's only fair and you won't have to wait for a refund.
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Regards,
Karen Deis
Publisher
P.S. Checkout the information for the 2005 Turn On Your Million Dollar Brain Workshops for 2005. Two Locations - Same Top-Notch Speakers - the one and only SHARE & TELL session. www.TurnOnYourMillionDollarBrain.com for more information & request a brochure.
Copyright, 2004, LoanOfficerMagazine.com
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