One of the biggest problems MLOs face when buying leads...
Is also the most overlooked!
Leads aren't converted overnight
Nor do they magically appear all at once
(If they're live & exclusive like ours)
In A Best-Case Scenario...
It will take at least 6 weeks to close your first deal
And probably another 2-4 weeks before you get paid on it
That's a LOT of time right there, and...
In An Average-World Scenario...
Most leads don't fully convert into closed deals for 3+ months
It's not a lead quality issue (but it's not rocket science either)
It's simply because there are steps in the conversion process...
- Lead arrives
- Appointment happens
- App is taken (often on a later date)
- Pre-qualification begins
- They shop for a home
- They find the home
- They close
- You get paid!
If each step took 1-4 weeks...
The time before you make any money can really add up
We know (as a fact), with all these steps in play...
The first full conversion probably won't happen for 3 (or more) months after lead-flow starts
This is true for ANY & ALL lead programs!
(These steps aren't different with other lead programs.)
If you're spending $1000's per month on a leads...
That can equal a ton of money spent
And no $$$ in return for quite a while
It's a cashflow bummer!