realdealphil
Joined: 16 Aug 2005
Posts: 27
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| Posted: Wed Aug 24, 2005 11:32 pm Post subject: How Leads "should" work |
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To give you a basic answer of how it "should" work:
Let's say that you buy 8 internet leads for $12 each. You have $96 invested, right? And out of those 8 leads, you get in touch with 2 of them. Out of those two you get 1 app. That app. just cost you $96. That doesn't necessarily mean that it is a closed deal either, right?
Now let's say that it takes you three app.'s to get a closed deal. That means it costs you $288 cost per close. Not to mention all the time of calling those 24 leads about 4 times per day each(96 total calls per day.)
The idea is to get your cost per close down along with eliminate the time spent chasing the prospect down over the phone. The problem is exactly what you stated: that they sell this "verified" lead to 3 other brokers. Exclusivity is a big, big factor. So is it worth it to pay a little more money for more exclusivity? Absolutely.
Now a "verified" lead can be, once again, a slide of words with some lead companies. Some companies will say that they verified the lead when all they did was call the number to see if there is an answer. On the other hand, a true verification should entail the prospective borrower volunteering his/her information to a call representative.
So how can you tell if this true verification is actually done? Well, that's what my company does every day and I'll be more than happy to show you exactly how we do it. We have a very unique way of ensuring our verification. Drop me a line or give me a call so I can show you.
For the most part, you frustration is justified. Most lead companies aren't doing the right thing. That's where vigilance on your part and this forum can come in handy. Right here on the Outpost alone, we have seen that only a handful of companies are truly doing it right. The others seem to get "beat up" or they simply disappear.
As for being in the lead business, I still have an opinion that I feel is very similar to many folks here. There are three words with lead companies that are used incorrectly or abused all-together:
EXCLUSIVE
VERIFIED
GUARANTEED
Once they can get that through their heads, they can begin to do good business and establish repeat business.
I hope that I have offered a positive side to this. I do not wish to bash anyone or any company. That is for the lead consumer to do. I just simply wish that there wasn't so many bad apples in the lead business. But that's what let's me sleep at night, knowing that I am doing the right thing, and when something isn't right, I correct it.
Take care all, |
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