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One question I get asked a lot is *How do I approach Internet mortgage leads?* As you may already know, I generate 90% of my business directly from these types of leads and have found them a great resource for several reasons:

* When you call people, they are ready to buy.

* People will take your calls and even return your messages, because they actually inputted the lead and it is not a cold call.

* You can begin pricing the loan out before you make the call because much of their information is contained on the lead already.

* Online leads exist for all loan types: refinance, purchase, and sub-prime loans.

Keep in mind that there are several drawbacks to these types of leads as well:

* If you buy from an unscrupulous lead provider, the Internet leads may be old, outdated, or have been resold several times to multiple brokers. (Always look for a money-back guarantee and invest as little as possible upfront, so you can *test* the lead company out).

* The customer probably put their Internet inquiry on other websites too, so many other brokers will be calling too. So you have to have your sales pitch down and effectively close the sale. Be forewarned, Internet shoppers are rate shoppers until the end, so close the loan quickly and get payment upfront!

* Be prepared to deal with competing, uneducated, low-life, lying loan officers who will say anything to get the sale.

With that said, here's how I approach my Internet mortgage leads and why I have had such an excellent success rate:

1. I always start by calling the lead as soon as I receive it. I want the customer to hear me first and remember who I am.

2. I never throw a lead away. Until I get a firm, vocal, *no* from a live person on the phone, I will keep on calling and leaving my *teaser* rate message (see below). Eventually, the customer will call you back and tell you that they are *interested* or *all set*.

3. I never send emails out to people who requested information through the lead. They will never write back, and if they do, they will refuse to speak with you and waste your time.

4. Customers will try to commoditize loan officers down to just rate, and I refuse to be pigeon-holed and boiled down to the lowest common denominator. As we all know, simply the lowest rate may not be there best option. I want to talk to a live person and uncover exactly what they want to accomplish through the loan.

5. Always try to get the customer at work first. They will be more polite to talk to, and will take the time to listen to what you have to say. If not at work, then call their home or cell number.

6. If you call them at home, and a spouse or partner answers, try to get as much information as you can about what they are looking to do. You do not have to actually talk to the person on the lead to get the information you are looking for. (I simply fill-out one of my mortgage pre-qual worksheets from my Sink or Swim Loan Closing System, and don*t bother to waste time by taking a full-application this early in the process. I want to get a handle on the loan first).

7. Try not to leave a message on their voicemail or answering machine the first few times you call. You want to speak to a real person. If you have to leave a message, use my special *teaser* message. This always gets people to call me back and has been very effective: *Hi (prospect's name). This is (your name) from (your company) We had you on our interest rate watch list and I just wanted to call and let you know that there has been a change in the market. Please call me at (leave your number), so I can update you on the rates. I should be here until about 6:30 PM. I*m waiting to hear back from a couple of other investors, so I'll keep looking for a better deal for you. Once again, this is (your name) from (your company). Please call me as soon as you can at (leave your number again). Hope to speak to you soon.*

8. Once you have spoken to the customer and gathered the necessary information, close the conversation by saying that you will email them a proposal with interest rates and several loan scenarios. Never, never, never, say what the rate is over the phone. You want the customer to be expecting your proposal. This gets them to actually read it.

9. Call to confirm that they have actually received the proposal and go over it with them. This will give you something to talk about and is a good reason to call them back, without seeming like a *bother*. It also helps to establish trust and make the prospect feel more comfortable, especially since they are doing business entirely over the phone.

10. Answer as many questions as you can and explain how simple and easy the entire loan process will be with you. Try to add as much value as you can while you close the sale.

There are many different ways to approach leads. I have tried to systemize the process as much as possible in order to be successful. Hope these tips help!