Lyncrest Media Lead Provider
Just the facts; this is what happened.
When I signed up with Lyncrest Media, I was really looking forward to starting. It sounded like a perfect situation. It was a few days before Christmas and the rep informed me that they had a deal going on. In order to get the deal they were offering, I had to pay $4,000.00 that day. I went ahead and got the payment processed. I began receiving appointments a little over a week into January 2022. Most of the appointments were 'no shows' but some were 'shows'.
The 'showed' appts either did not qualify for a mortgage at all, or were very complex with their job history and/or had large employment gap issues; and/or only qualified for loan amounts under $150,000.00. When I expressed concern about the amount of no shows and lead quality, I was spoken to as though I was not selling effectively (which was obviously erroneous given the fact that no one I spoke with qualified for a loan in the first place).
I decided in any case to give it a little more time.
Unfortunately, by the time I realized what I was actually dealing with, I was already out $4,000.00. I canceled the service (because it was either pay the 'early cancelation fee' of 2k or lose another 4k).
According to my boss, other loan originators in my office had the same experience and also canceled early. Apparently the other originators lost even more money than I did because they stuck with it for longer.
I use them. Yes it’s expensive but worth it if you’re willing to do the work to close. I’m not good at forming relationships organically so having clients essentially “dropped off at my doorstep” is great for me. Also I find managing VAs to be annoying at times.
Lyncrest Media show ratio to start is HORRENDOUS. Someone before me mentioned 90% and that is spot on. The other 10% couldn't qualify for any sort of payment and others couldn't qualify for a secured credit card. I had to tell them after month 2 with fewer than 15 showed appointments that they had a lot of work to do because the promised 60 that are "guaranteed to show and credit qualify" that they were nowhere near that mark. The system is VERY glitchy and many time I had to bring in supports via email to help. Lyncrest Media is a scam, period. $12,000 down the drain. As I was searching for similar companies I came across Good Vibe Squad at a fraction of the cost. When I was shown the system it's AN EXACT MATCH at a portion of Lyncrest cost ($1200/Month). I decided to give them a try given the costing was 500% less. The leads are night and day difference. The reason I KNOW they are connected is that I tried to load my same calendar that Lyncrest was using to the new Good Vibe Account and it said my calendar was already being used by the same system. My guess is Lyncrest is an "affiliate" using the same back end as Good Vibe but sending old, outdated appointments at a much higher profit margin. I've never seen such a scam system in my life. Please whatever you do don't use these guys. There are many other options out there to spend your money on. The contract takes any and all blame off of them so not matter what the customer has zero recourse.
Hey Jim - this is Preston Schmidli, Co-Founder of Good Vibe Squad. It seemed like most of your feedback was around Lyncrest, so I didn't come here to defend our brand - but I did want to identify and declare that we are in NO WAY associated or affiliated with Lyncrest Media.
You mentioned "the system is an exact match", it's not. We built LoanMore completely on our own. While there may be overlap in the software (as there are a lot of agencies that use HighLevel as the framework to build their software, it's essentially like buying a box of legos with no instructions and you can set it up however you want. So there may be overlap, but it's not the same.)
Either way, our brand and reputation are very critical to us and we would never associate with someone who has a consistently negative reputation in the market. Plus, I prefer to fulfill everything in house - so a partnership with a fellow agency would not be anything we desire.
Just wanted to share that. I hope you have a wonderful holiday season and new year!
I know an LO using a competitive lead gen option. I can ask him how that one is working and connect you two if you'd like some peer to peer guidance. LMK.