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“There is no such thing as free lunch.” That phrase certainly rings a bell, doesn’t it? Unfortunately, the same phrase, only worded slightly differently, can apply to mortgage leads. There is no such thing as a “free” lead.

Yes, there are ads out there claiming to offer free leads. “Get 10 FREE leads!” “Get 50 FREE leads!” “Make money off these FREE leads!” That last one is really a kicker, because it conveniently forgets to say WHO is going to make the money off the “free” leads. One thing is for sure; it probably will not be the poor broker or buyer who falls for this type of ad.

Filtered leads, on the other hand, are just that. The leads have been examined for accuracy, legitimacy, and content before they are ever sent out to brokers and buyers. This not only saves time on everyone’s part, it also serves to heighten the good reputation of the person or company supplying the leads to the broker or buyer.

Any time a lead turns out to be “bad”; that is, to have incorrect, if not false, information, that lead causes lost time for both the lead supplier and the person or company receiving the lead. The supplier has to remove the lead in order to prevent it being sent out again, then turn around and send the broker or buyer another lead.

The broker or buyer, who has already spent valuable time following up on a “bogus” lead, now has to wait for a new lead to be sent. He or she can, of course, be following up on other leads; however, the fact remains that the amount of time that was spent on the bad lead could have been better utilized.

Brokers or buyers do not want to receive bad leads. A good lead supplier does not want to deliberately send out bad leads, nor does the supplier want to earn a reputation of sending out such leads. Filtered leads, therefore, had better serve everyone.