Last Updated on June 12, 2017 by John Fischer
When searching for an investment lead broker, be ready to do some detective work. While there are many honest brokers doing legitimate business, there are also tons of individuals hoping to make a quick buck by selling a dismal excuse for a lead list. So when you meet a new lead broker, do your research before sending out a check.
Go beyond the initial Google or Yahoo search results; often, the information you need may only turn up on the third or fourth page. Unscrupulous brokers know how the system works; they can publish new content to bury bad reviews or negative feedback, trusting that the search engine robots will bring only their fresh, positive content to the surface. Worthy brokers know that it is important to sell themselves, but more important to back up surface claims with proven ability.
What to Look for in a Lead Broker
Speaking of search engines, remember that the top search results on Google are not always the best indication of a trustworthy investor lead broker. The first results are flagged as ads because they can be easily purchased like any other ad space. These spots are good for directing traffic to a website and can be used legitimately, but it is advised that you find a broker who has also earned top organic ratings by following solid business practices. You will find the organic listings directly under the flagged ads.
But how do you know which investor lead brokers have proven their ability? You need to know who you can trust, especially if you’re searching for investors for the first time and you have yet to make connections with worthy brokers. The Better Business Bureau is a non-profit organization dedicated to establishing and maintaining “trust” in the marketplace. The BBB maintains records of honest, scrupulous businesses and also addresses complaints from consumers about businesses who scam, cheat, or otherwise defraud their customers. If your broker is accredited by the BBB, then he or she knows the importance of maintaining good relationships with customers and only engaging in the most scrupulous business practices.
Once you’ve met your ideal investor lead broker, what are some attributes you can rely upon? Accessibility is one of the primary values of an honest broker. After paying good money for a lead list, the broker should be available to you to field any questions or address any concerns you may have. Unfortunately, there are some brokers who like to bait-and-switch and then disappear forever. It is reasonable to expect your broker to take your call immediately or at least call you back within a short period of time. If your broker disappears after the sale, then you should shop around and find someone who will give your case the attention it deserves.
Did They Mention the DNC?
If you’re offering your securities through general solicitation, then you must comply with the National Do-Not-Call Registry; otherwise, you could suffer serious penalties. A good investor lead broker will help you comply with DNC by making sure you have a Subscription Account Number (SAN) in order to access the registry. An experienced broker will know about the potential difficulties you can encounter with compliance, and how you can “scrub” your list in order to protect yourself. Compliance with national standards is not the only potential pitfall, so your broker should have a working knowledge of which states participate with the national registry exactly and which have applied additional requirements.
Now that you know what you should expect from an investor lead broker, you can feel confident searching for your lead source. We have criteria based on our 24+ years in the industry, so you can trust that we’ve identified the red flags. Give us a call and find out what we can do to prove we’re worth your trust. Our A+ rating from the Better Business Bureau with zero complaints shows how far we go to satisfy our clients, but even if you don’t purchase from us, keep these tips in mind. They could be the only thing keeping you from purchasing a low-quality lead list.