The last time I bought a lead or wrote an ad was 1996. From that time on, I built a referral based mortgage practice. Having said that, one of my loan officers buys leads which produces over 90% of his revenue. He has been with my company over a dozen years and is extremely successful.
Here is the thing, whether you buy leads or you have a referral based practice, retention is the name of the game. You will never retain 100%, it just isn’t possible. If you are not willing to offer extraordinary service, your retention numbers will suffer.
The words “customers service” are so misused. Doing your business in an honorable and fair way so that someone wants to do business with you again will assist the retention process.
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By: Brad Finkelstein
"The most important thing mortgage originators need to consider for customer retention is to make sure their clients know in any interest rate environment that they are looking out for their needs and goals, said an executive with a lead generation company."