I'll get straight to the point here: "General Home Buyer" leads are the easiest thing in the world to generate. If you're any good at lead gen and know how to operate the facebook advertising platform, you can maybe generate them for $2 - $3 per lead. The problem arrives when, even with excellent follow-up (automated or not), they generally ONLY convert at 0.5%.... AND they can take 5 to 8 phone calls just to get a pre-qual. So, let's crunch some numbers in this scenario... In order to close 1 loan, from a general home buyer lead campaign, you'll need to:
- Generate 200 leads
- AND Make 1,000 to 1,600 calls!