A mortgage lead provider out of California has developed a proprietary mortgage lead algorithm that it is promoting by giving away free leads for purchase financing.
The new patented algorithm, announced Thursday by Avrick Mortgage Leads, reportedly utilizes a unique database to identify when a prior customer of a mortgage broker is about to purchase a property.
Mortgage brokers are immediately notified when a prior customer lists their current home for sale on a multiple listing service.
The automated service sends out weekly lists to Avrick clients showing which of their prior customers are currently shopping for a loan.
Avrick calls prior customers the “best future mortgage prospects. “
In an effort to promote the new offering, the Santa Barbara, Calif., company is “offering free, no-obligation leads to mortgage brokers.”
The announcement went on to say that unlike the majority of leads, which are sold to an average of 2.5 companies (“and far more than that in the ‘hot’ markets”), Avrick leads are sold “always on an exclusive basis.”
“Brokers should be able to convert one-in-four to a sale,” the news release said.
Avrick claims that it “has generated millions of leads for every major financial institution.”
Avrick is online at www.avrickmortgageleads.com. Mortgage brokers who are interested are being directed to call 252.220.2274.
