When you analyse why lead generation firms such as Leadbay have come to prominence over recent years, there is one underlying reason.
Brokers do not do enough to retain clients so a high percentage of them become broker tarts.
As we take comfort from improved figures for March, brokers I have spoken to recently are taking stock of their actual client bank and are finding that many have gone elsewhere.
Market data shows that for the five years up to 2008, some 60% of lender business was generated by brokers. So why is the control advisers once had over clients now being switched to lenders?
Well, former clients still want the same thing – value for money, best advice and quality customer care – but the reality is they are now seeking it from the web in the first instance.
Many have forecast the end of the broker sector as we know it, but I am not that pessimistic.
Good brokers who can see a lead for what it is – an opportunity – will survive, but only by developing long-term relationships.
Recent events have led the public to put trust in people they know and they realise big is certainly no longer best.
So seek out those leads but beware the tarts – some can be expensive.