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Paid Leads Conversion Goals

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Initial Goal

Your Initial Goal when managing newly assigned leads is almost always going to be introducing yourself and showcasing the value you bring to the borrower within this first interaction. Our leads and borrowers are spread out across all stages of the homebuyer experience from planning to making offers and in contract. 

Most leads prefer one type of communication and there are often situations where they provide a real email address but a fake phone number based upon these preferences. A multi-channel approach to communication for establishing contact is necessary to ensure full coverage.

Working With Your Customer

As you think ahead, the more information you can collect the better you can advise a client, so working to get as many phone calls scheduled OR account sign-ups as possible is a great first step / call to action. 

You should plan to contact about 5 or 6 leads over the course of the first month, and plan to get about 3 accounts created. 

Tip: The average timeline for these leads to convert has expanded in this challenging market so we advise routine follow ups for the first 1-3 months for anyone that has NOT clearly opted out or you have already converted. Maintaining a Nurture pipeline is key to any successful paid lead strategy. 

Of the 3 accounts, we’d expect at least one of those prospects to go into contract and be a transaction ready opportunity within a month. You should also have the opportunity to convert one or two more leads or accounts to application within the first three months if you are focused upon your follow up strategies. 

Return on Investment

Assuming you convert 1 of every 100 leads (1% lead-to-fund) you will earn ~$3,000 for every $1,000 invested. High performing loan officers generally will convert leads in the ~5-10% range which will result in a much higher return. As you grow your pipeline and develop your sales process, you will have the opportunity to earn more leads and Morty will invest in additional lead volumes to match your style and success.