Not every enquiry is a lead. For me, a genuine lead needs three things:

1️⃣ Full name + ability to contact
2️⃣ Two-way dialogue
3️⃣ Intent to do business

Miss any of these and it’s just a Prospect, not a Lead.

High-quality leads also:
✔ Know what they want (first home, refinance, investment)
✔ Engage in the process (answer, respond, ask questions)
✔ Come from the right channel (referrals, niche ads)
✔ Respect the workflow (docs, updates, participation)

A good conversion rate is 40–60%. Anything in that window is solid.

► Why this matters as we scale. 

At $2M/month, we can afford to test more.
At $6M or $10M/month, we can’t.
The team can’t waste time on tyre-kickers. 

Submissions need strong files.
Credit support can’t chase half-baked docs.
Settlements shouldn’t clean up avoidable mess.
High-quality leads keep the whole machine running smooth.

TAKEAWAY:

A lead is only a lead when it has name + contact, two-way dialogue, and intent. Everything else is just noise. Spot the real ones early. Focus your energy there. That’s how we write more, grow faster, and build valuable businesses without burning out.