Ep# 121: How to Balance Agent Referrals with Buying Internet Leads

Blake Bianchi shares how he built a hybrid mortgage business combining realtor referrals with purchased internet leads from Zillow, LendingTree, Bankrate, and NerdWallet. He explains the systems required, conversion realities, and a unique agent-referral platform he built to send pre-approved buyers to partner agents. Best for LOs curious about adding consumer-direct leads without abandoning their referral base.

Takeaways you can run this week

• Before spending a dollar on leads, set up a CRM with automated text, email, and voicemail that fires within 60 seconds of a lead arriving — Blake's contact rate was 50% when responding in under a minute, dropping to 15-20% after five minutes.
• Track cost-per-acquired-client by lead source (LendingTree vs. Bankrate vs. NerdWallet) and shift spend toward whichever source converts best; Blake's target is $1,000 or less per closed loan.
• Build an agent-referral landing page with 3 vetted agents per county. When a buyer lead has no agent, text them the URL and say 'Here are the top three agents we work with — pick one.' Set it to auto-text the chosen agent instantly: 'You have a new pre-approved buyer from the Bianchi team — claim it now.'
• To cold-approach a target agent, email: 'I know you get hit up by a lot of lenders. I have something they can't offer — a free buyer. Want to be on our platform? No requirement, just start receiving pre-approved clients from us.' Blake says nearly every agent says yes.
• Keep the first call with an internet lead to 5 minutes: connect locally, ask what they need, then send a recap email with your digital app link. Do NOT go for the application on the first call — Blake says it's a turn-off for purchase leads.
• Run a post-close drip: Month 1 — review request + check-in; Month 3 — home maintenance checklist; Month 6 — referral ask; Month 12 — personal phone call for annual mortgage review. Pair with e-Property Watch for monthly automated home value reports.

The playbook

1. 1. Set up CRM with integrations matching your lead sources (e.g., BoomTown, Big Purple Dot).
2. 2. Configure instant auto-response: text + email + voicemail drops within 60 seconds of lead arrival.
3. 3. Start lead spend at $1,000/month on one source (Blake started with Zillow long-form, now uses LendingTree).
4. 4. Track contact rate and closed-loan rate per source; double down on the top performer.
5. 5. On first call (5 min): build local rapport, identify needs, send recap email + digital app link — no hard close.
6. 6. Move pre-approved purchase buyers without an agent to your agent-referral platform URL.
7. 7. Auto-notify the selected agent via text the moment the buyer picks them.
8. 8. Post-close: activate drip sequence (Month 1, 3, 6, 12) + e-Property Watch monthly report.
9. 9. At 12 months, make a personal call for annual mortgage review — check rate, refi opportunity, referral ask.

Worth quoting

“Everything works, but not everything works all the time or for everybody everywhere.”

“I'm refinancing 75% of my pipeline from last year — that's business I wouldn't have if I didn't follow up.”

Best for

LOs who rely 100% on agent referrals and want to test a consumer-direct lead channel without blowing up their existing business model.