Brokers to Bid for Mortgage Leads

Any mortgage broker will tell you that most of their business is only as good as the leads they are given. A new service is cashing in on that point, letting brokers bid for mortgage leads with the best leads going to the highest bidder. Those that do not bid as high will still receive leads, but precedence will be given to those individuals and companies that bid the highest; they will receive leads that are the closest to specifications given at the beginning of the bidding.

The new service, found on a lead website, is the next step in competitive mortgage practices. While the scheme may seem like it would not be ethical, there is nothing against the practice since the potential borrower will be given the best service possible as a result of the high cost bidding. The website currently has a contract with just one advertiser, but they are looking to expand their market due to the high response to the program.\r\n