{"id":1391,"date":"2007-05-07T08:22:52","date_gmt":"2007-05-07T15:22:52","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1391"},"modified":"2007-05-07T08:22:52","modified_gmt":"2007-05-07T15:22:52","slug":"the-lead-to-loan-cycle-of-an-internet-lead-aka-distrust-mountain","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1391\/the-lead-to-loan-cycle-of-an-internet-lead-aka-distrust-mountain\/","title":{"rendered":"The lead to loan cycle of an Internet lead aka Distrust Mountain"},"content":{"rendered":"

My mortgage company works primarily with Internet leads — we’ve found it far more effective than direct mail, telemarketing or any other of the dying mass marketing techniques. We’ve developed and implemented systems and processes to effectively convert Internet leads in to customers and those customers in to repeat and (hopefully) long-time clients. As the marketing guy at our company I spend a lot of time looking at Internet leads and where and how we are converting them. I look at our successes and our failures and try to build marketing to support our chosen business channel.<\/p>\n

I wanted to share with you all the lead to loan cycle that is typical with an Internet lead in terms of trust. Everyone talks about being a trusted advisor to your client, but what does that mean and really look like through the loan cycle? I’ve developed a (crude) graph that I show to all of our sales people to explain the challenges of working with a person who has solicited a refinance or purchase quote via the Internet. I call the graph Distrust Mountain.<\/p>\n

\"Distrust<\/p>\n

While I’ve documented the Internet lead here, you can apply this with varying levels of correlation across all lead sources. It also does a nice job of documenting how much better referrals or repeat business are, because that initial hump is so much lower.<\/p>\n

As an originator, when you first receive an Internet lead, you must understand that although that person has expressed a varying degree of interest in some part of the refinance or purchase transaction they haven’t expressed any interest in you or your company. When you conduct the first phone call you are faced with a very high barrier to earning the person’s business. You are calling them (one of four or five people) and soliciting your services. They may have talked to others before you and will definitely talk to people after your initial conversation. Their defenses are up and they are looking for any reason to not continue the conversation with you. <\/p>\n

This is the most difficult part of the transaction for inexperienced loan officers. The Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

My mortgage company works primarily with Internet leads — we’ve found it far more effective than direct mail, telemarketing or any other of the dying mass marketing techniques. We’ve developed and implemented systems and processes to effectively convert Internet leads in to customers and those customers in to repeat and (hopefully) long-time clients. As the […]<\/p>\n","protected":false},"author":22,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,6],"tags":[],"class_list":{"0":"post-1391","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-lending","7":"category-marketing","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2884,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2884\/zillowcoms-long-awaited-mortgage-lending-service-to-offer-anonymous-customized-loan-quotes-to-consumers-affording-loan-originators-the-opportunity-to-compete-transparently-for-free-mortgage-leads\/","url_meta":{"origin":1391,"position":0},"title":"Zillow.com’s long-awaited mortgage lending service offers anonymous customized loan quotes to consumers, affording loan originators the opportunity to compete transparently for free mortgage leads","author":"Greg Swann","date":"April 2, 2008","format":false,"excerpt":"Seattle-based real estate start-up Zillow.com tonight releases its long-anticipated mortgage lending product. We've known for nearly a month that Zillow's offering would include working loan originators in some fashion. What becomes clear tonight is that Zillow will basically be acting as a hands-off intermediary between mortgage-seeking clients and loan originators.\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2958,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2958\/zillowcoms-mortgage-marketplace-brings-anonymous-apples-to-apples-mortgage-rate-quotes-to-consumers-free-consumer-leads-to-lenders\/","url_meta":{"origin":1391,"position":1},"title":"Zillow.com’s Mortgage Marketplace brings anonymous apples-to-apples mortgage rate quotes to consumers, free consumer leads to lenders","author":"Greg Swann","date":"April 13, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link): \u00a0Zillow.com's Mortgage Marketplace brings anonymous apples-to-apples mortgage rate quotes to consumers, free consumer leads to lenders Wouldn't it be great if you could get a broad array of mortgage quotes without having to make dozens of phone\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1319,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1319\/when-banks-compete-you-lose\/","url_meta":{"origin":1391,"position":2},"title":"When Banks Compete, You Lose","author":"Morgan Brown","date":"April 19, 2007","format":false,"excerpt":"Brian Brady wrote a great series of articles on how to obtain the best mortgage loan by shopping for a mortgage originator first, and then the loan second. His brilliant advice is a bit counter-intuitive but dead on. If you are considering shopping for a mortgage by using the internet,\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1236,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1236\/predatory-coaching-for-realtors-and-loan-originators\/","url_meta":{"origin":1391,"position":3},"title":"Predatory Coaching For Realtors and Loan Originators","author":"Brian Brady","date":"March 29, 2007","format":false,"excerpt":"Are you a victim of predatory coaching? There are many advice gurus available to Realtors and loan originators. I watch our industry grow and am amazed at the cottage industries that have hatched from that growth. It reminds me that the only people really making money in multi-level marketing sell\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1911,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1911\/how-to-be-a-successful-originator-for-about-25000\/","url_meta":{"origin":1391,"position":4},"title":"How to be a Successful Originator For About $25,000","author":"Brian Brady","date":"September 11, 2007","format":false,"excerpt":"Blogging for business is NOT the most efficient use of your time. Your time is better spent mining your database. This is a topic near and dear to my heart; my database is a mess. Had I properly maintained it these past 7-8 years, I'd probably be retired today. If\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2974,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2974\/introducing-chris-johnson-new-market-survival-enthusiast\/","url_meta":{"origin":1391,"position":5},"title":"Introducing Chris Johnson, New Market Survival Enthusiast","author":"Greg Swann","date":"April 16, 2008","format":false,"excerpt":"Until today, I thought Richard Riccelli had the best job description among our contributors: \"Marketing Provocateur.\" Loan Officer Chris Johnson offers plausible competition with \"New Market Survival Enthusiast.\" Chris Johnson calls the tiny town of Westerville, Ohio, home -- a challenge for a loan officer. A prolific weblogger and an\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=1391"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1391\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}