A mortgage company based in Chattanooga, Tennessee found themselves in the same predicament as many real estate agents across the country who purchase Internet leads. They were paying a lot of money and getting “only mediocre results,” says Kevin Blair, a mortgage broker with BrandMortgage.
Four years ago, Blair was paying top dollar for mortgage leads from sources like LendingTree® and LowerMyBills.com. In some cases, these leads were costing him a whopping $10-20 a piece. Then an associate in Florida told Blair about VoicePad and how real estate agents were using the search-by-phone and text mobile solution to generate more homebuyer leads. Blair immediately saw what VoicePad could do for his mortgage business.
“From that point to today,” said Blair, “I have used VoicePad exclusively for leads, and have built a great team that includes two REALTOR® partners in my area.”
Using the VoicePad service that is now designed specifically for mortgage professionals, Blair encourages his real estate agent partners to put a VoicePad sign rider on each of their property listings. The sign rider invites homebuyers to call a branded phone number to obtain automated property information by either audio presentation (in Spanish and English) or text message.
When a potential homebuyer accesses the VoicePad system, both Blair and the real estate agent get a text message and email containing the interested party’s name and phone number. If the potential buyer elects to speak with the agent while on the call, VoicePad rings the agent. If the prospect opts to speak to a mortgage professional after accessing the monthly payment calculator, VoicePad automatically calls Blair or any one of his associates, using simultaneous ring technology so he and his team never miss a call.
Blair discovered that the secret sauce VoicePad provides to mortgage lenders is found in the quality of the leads. He and his team follow up on all VoicePad leads, whether or not the buyer opted to speak with a mortgage professional or not. The result: They have been able to capture more high-quality leads than with any other lead source they have ever encountered. Blair says the VoicePad leads are particularly strong because of their immediate and local nature, and because they come from interested buyers who are purchase-ready.
Blair has also become a huge proponent of the technology behind VoicePad, calling it “Unmatched technology.” He says the implementation of VoicePad and its automation features is so easy and that the entire system work effortlessly and flawlessly. “All the agent has to do is put a rider on every listing and VoicePad takes it from there,” Blair said.
Within the first month of purchasing the system, BrandMortgage not only began receiving quality leads, but also closed several transactions. Blair gives VoicePad the highest praise, saying, “The VoicePad system is my business model,” revealing that VoicePad accounts for half of is closed loans every year.
But the real kicker is his ROI or return on investment.
“The cost for this service is so minimal, it is not even a factor in our business,” he said. Blair has reduced his cost per lead from $10-20 to an average of $0.88 per lead. With his Realtor® partners carrying between 75 and 100 listings, Blair now closes over 80 mortgage leads a year. “It is the best lead generation system I’ve ever used in my 15 years in this business,” said Blair.
Blair says that he’s become a VoicePad customer for life.