Buying Leads (Good Idea or Bad Idea?)

Many cash flow-poor brokers make the mistake of buying leads as a last resort. Since they often lack effective processes to convert those leads, they fail to make a return on their investment. Remember that at the end of the day, there’s no point in paying for leads you can’t convert. But this doesn’t mean that brokers should never pay for leads. So, there’s really no one-size-fits-all approach here.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted discuss when brokers should buy leads. Tune in to learn how paying for leads can be part of an effective business strategy – if your business meets specific criteria.

The Key Questions

Why should brokers be aware of the ‘shiny object syndrome’ when considering buying leads? (2:50)
When is it a good idea to buy leads? (7:57)
Why is it that two companies who purchase leads of the same quality can still end up with different results? (9:40)
What’s the caveat to making bought leads a part of your growth strategy? (18:10)

What You’ll Discover

The common mistake that many struggling brokers make (3:35)
The preconditions your business needs to meet before buying leads (5:14)
What buying leads can and cannot do for your business (19:40)
What you shouldn’t do when making your decision to buy leads (21:43)

Buying Leads (Good Idea or Bad Idea)