Tricks by some Telemarketing Firms offering Live Lead Transfers
Please Note: The vast majority of the companies that offer Live Call Transfers or Live Lead Transfers are legitimate lead generation companies that provide a high-quality service. However, just like there are a few unscrupulous loan originators and lenders that give the mortgage industry a bad reputation, a few bad apples give the lead generation business this same negative thought. In an attempt to educate you, we offer some various different types of how a few companies are using (or, rather, abusing) “live lead transfers” and not delivering a quality product.
Do you know of a lead generation scam? Please submit the method here to be included on this list.
“You won a free laptop computer…”
… Or a $1000 Visa gift card, or a trip around the world, or some other great prize of value. In order for people to win these prizes, they’d have to agree to receive newsletters, hear sales pitches, and make a few small item purchases. Included are, not one, but TWO different pre-qual forms they’d have to fill out and agree to “hear how they can save money on their mortgage.” So, they actually will listen to your sales pitch for a couple minutes just so they can get a chance to win the prize. These are sold off as “leads” and live transfer companies call these “real-time leads.” Feel sorry for the consumer on these. By the time they fill out information on “requesting a lower mortgage payment,” they would already have about 10 hours invested in trying to win these nearly-impossible-to-win prizes; they’d have so much time and money wrapped up in it that they’d listen to anything. The promotion companies then sell these to dozens of companies. If there is a plus side, the telemarketers get first crack (and pay the most for these) because they can so easily convince the consumer to talk to a “mortgage professional.”
Without naming names, the vast majority of the largest lenders and Internet-based lead companies pay affiliates up to $70 each for every pre-qual app filled out from their website (source: cj.com). Webmasters then place these links on their websites and have hundreds of their friends (or people they pay) fill out these forms so they can get the huge lead feed. These professional scam artists use cell phones to answer the bogus “lead” they generated. Telemarketers and Internet lead companies unknowingly purchase these. Once again, when the live transfer is made, they answer the phone and act interested for a few minutes before offering an excuse to get rid of you… just to collect their $5.00 from the $40-$80 you paid for this “lead.”
Bogus rates and payments
Any mortgage broker knows that these are a royal pain yet day after day people solicit the rubbish to pass it off as a “lead” to you.
“I’ve got a secret”
We aren’t talking about the funny TV game show that was on the GAME SHOW NETWORK either! Under pressure to deliver as many leads as possible, the telemarketer shares a secret… one that is total rubbish. “Don’t tell John I told you this, but I saw him refinance a house yesterday at 1.9% and the customer got $25,000 cash back out of their mobile home! So you can imagine what he can do for you!” Yeah right… I want to talk to you, too. I have a 1968 Winnebago sitting on my property that I’d like to remodel as a rental property!
“In order to get you the best loan program available”
A common problem found with some inbound call center leads. Customers have no idea what their credit scores are. They’re automatically informed that their credit scores have just skyrocketed just from calling in. That negative equity also amazingly transforms in minutes to around $25,000 just in time to transfer that lead to you!
I won’t propagandize our services here to you. We’ve done enough of that throughout the website. We would love to hear your feedback though and other interesting stories you have to share on your lead experiences. Examples provided here were general scenarios and were not implicitly depicting any company, companies, or direct competitors.