With great power comes great responsibility. When the mortgage industry accounts for over 75% of all volume, one expects that industry to represent themselves with honesty and integrity. The biggest reason it *isn’t* okay to use rates in your advertising is if you’re using them to bait consumers into forming a false impression. In other words, you want to trick
UPDATE. We’ve reintroduced a program for those that have invested in poor advertising programs. If you come to us from lower-performing and non-compliant programs such as Broker Grow, Bizleads, and a few others, we’ll increase your conversions by 300% or give you $25’000 (increased by 5k). The point of the exercise is to showcase and expose the nonsense programs floating
We’ve reintroduced a program for those that have invested in poor advertising programs. If you come to us from lower-performing and non-compliant programs such as Broker Grow, Bizleads, and a few others, we’ll increase your conversions by 300% or give you $20’000. The point of the exercise is to showcase and expose the nonsense programs floating around the market. This
I’ve spoken of the illegal ‘Mortgage Magnet’ operation in the past, so I won’t repeat myself. The comments on this ad (taken at 10FEB2025, 12.23AM) shows the lack of comment oversight. Such a scam. Any ACL holder that doesn’t police their downline advertising or lead source should be considered in breach of legislation.
This might be obvious to many of you, but it’s one of those toilet-tactics that’ll add an easy 50m to your operation with minimal effort (1m a week is worst-case). There’s only a handful of brokers I work with that do what I’m about to describe and they’re all seeing great results. Banks have big advertising budgets, and their ads
The Re-Mortgage brand run by ‘Mortgage Magnet’ is one of the most dishonest leadgen services in the industry. They engage in false advertising, predatory practices, fraud, and they disregard about every piece of legislation designed to protect consumers. They’re an example of ‘Worst Interest Duty’. We’ve critiqued Mortgage Magnet numerous times in the past (in fact, in the last week
The reason I occasionally carry on about the (lack of a) comparison rate in advertising isn’t just because it’s illegal, or because it highlights a bigger picture issue with broad business compliance. The reason the bread-and-butter requirement grinds my gears is because the rate is used to deceive consumers. There’s a word for *knowingly* and deliberately deceiving a consumer: fraud.
For the last few years we’ve made attemps to call out illegal, non-compliant, unethical, or offensive financial advertising. Originating mainly from pay-per-lead services, the plethora of deceptive finspam has left a permanent stain on the industry’s underpants. We were fortunate to be asked to provide advice and guidance to various groups over the last year, and it’s great to see
There are a few big-ticket compliance SNAFUs in this ad (the exclusion of the comparison being the most obvious), but usage of the Coat of Arms in a black and white ad designed to emulate a Government document is the focus of this rant. The use of the mark is regulated under federal law, and its use in any advertising
Shad of the Day, 7th November 2024. Just another example of somebody using trickery to bait consumers into a phone call (by failing to disclose a comparison). Note the second comment. The subscription experience celebrates the same commitment to compliance and ethical marketing. It’s probably unfair to point this group out since non-compliance is now the rule rather than the
The company managing the advertising for the group pictured on the right have simply copied Macquarie’s logo, creative, and general formatting. There’s generally no rule against leaning on recognition, but it will always come at the expense of your own brand. It’s always a shame to see such a lazy advertising effort (the copy, landing page, and everything that comes
Every now and again I feel the need to prove a point because there are still brokers and other businesses that are led to believe by the leadgen charlatans that investing in (what is usually non-compliant and/or illegal) pay-per-lead services is a good idea. Paid leadgen services might charge around $18-$20’000 for the pictured 148 leads, while our broker paid
