Written By: Eric Kates, CEO, www.MortgageLeads.com, has been involved in the real estate and mortgage industry for over 23 years.
While many companies simply focus of the quality of the lead source, the sales process is often an overlooked, yet significant component, of lead conversion.
When trying to analyze the likelihood of whether or not a mortgage lead or other type of business lead will turn into a closed deal, depends on both the quality of the lead (how it was generated by the lead company) as well as how the lead is processed once purchased (in other words, the scripts & your selling ability).
Leads360, a top lead management company, conducted an extensive study on what it takes to increase your chances of turning a lead into a loan application. According to the Leads360 study from November 2009, based on their own collected data, quality of the lead is 57% of the component for achieving better than average odds of closing that prospective sale.
Several main factors establish what constitutes lead quality.
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