LeaderOne Financial Corp. specializes in residential home loans for real estate purchases and refinancing, providing services throughout New Hampshire.
John McGrath is the Regional Vice President at LeaderOne. He leads an eight person team whose focus is to help their clients move through the application process and answer any questions. LeaderOne transacts around $50M a year, and John is the only loan officer in the office. They average 18 closes a month with the ambitious goal of closing 25 loans a month in the near future. Needless to say, as a VP, John has his hands full.
His main priority is driving new homebuyers into their pipeline and repeat business through relationships with other real estate professionals in the area. John signed LeaderOne up for Opcity in July 2018 to accomplish just that.
Opcity is the largest purchaser of real estate leads in the United States. Our team of 300 inside sales agents call leads within four seconds of online inquiry, and prescreens the leads for intent to buy, budget, desired zip codes and more. Once our representative has an understanding of the client’s needs, they connect the client directly with a loan officer and real estate agent via a live, three-way phone transfer. Opcity sees the lead through from introduction to close and provides lead management software and automated reminders to keep the leads top of mind.
“Getting started and ramping up with Opcity was extremely easy. I did it myself; it was very self-explanatory. I personally used it for two weeks to get a feel for the system before training my team. I think the platform itself is very good.”
During the first month on the platform, he and his team met 85 new agents at 31 different brokerages in their area. LeaderOne has been so successful on the Opcity platform that they are taking overflow leads from Florida and Connecticut.
“LeaderOne is seeing a 30% lead to application conversion. 10% have pre-approvals, and we should convert at least half of those. Those numbers are very good. Those are good consistent numbers that we can work.”
The key contributor to LeaderOne’s success with their online lead conversion is their dedicated follow up and lead nurturing process.
“If we can get people filling out the application they will go into a synchronized system where we will touch base with them and try to get in front of them. We don’t give up on the leads in our system just because they didn’t close right away. We’ll sit down with them, we put them in a drip campaign and get them into Surefire and touch them on a regular basis through that. Leads that come in through our system will buy anytime in the next 24-36 months. It’s important to have a consistent way to keep in touch with them. I even put leads that haven’t filled out an application in my drip campaigns,” said John.
Seventy seven percent of online real estate leads are never called. The only way to see lead conversion success at scale is to have a system in place to contact, follow up with, and nurture leads until they are ready to buy. Opcity provides that proven process. Through a light CRM solution, our mortgage partners can track leads met through Opcity and see their overall pipeline.
“The biggest challenge I’m having right now is getting in front of the realtors due to the volume of connections I’m receiving,” said John.
Nurturing agent connections is almost as important as nurturing inbound leads. Connecting with great agents will bring a lot of new business in the future outside. Opcity has a rigorous screening process for agents to join our platform, so our lender and settlement partners know they will be connected with a high quality industry professional.
“One of the realtors we met through Opcity just provided LeaderOne with an additional close that we would not have had without the partnership. Opcity works for us and we’re going to keep stacking up our leads. I personally think it’s a really good system.”