LeadQual’s shopping spree continues. As a follow-up to our Secret Shopper study for education leads, we decided to shop the mortgage industry to determine how quickly lenders respond to their mortgage leads.
In our study, lead forms were completed and submitted for 136 lenders. Incredibly, only 40% of our inquiries received a telephone response over a 24 hour period. That’s right – 60% of our inquiries did not receive a response! The average response time for leads that did receive a response was just under SEVEN hours!
To be sure, there are lenders responding to all their leads, and doing so quickly. Our study concludes that the current state of lead response presents both a challenge and an opportunity for virtually every lender that generates or purchases Internet leads.
We will be presenting results of our study at the Mortgage Bankers Association 96th Annual Convetion and Expo in San Diego, booth #425. Visit us at our booth, or call us to get your individual company results. The study can be downloaded here: http://www.leadqual.com/case-studies.html.