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Shared leads

They filled out four forms. You’re the fifth broker calling.

Exclusive narrows it. Nobody can stop the other forms.

Alex Makowski · Updated 21 September 2026 · 3 min read

The short answer

A merchant who filled out four funding forms is being called by every one of them — five area codes in six minutes — and a vendor who resold the lead to three buyers makes it seven. Nothing you or your vendor does stops the other forms. What is left is being the first call, saying which application you are calling about so the merchant knows which call you are, and buying exclusive so you are not paying to be the seventh.

The second reason leads go unanswered is the one the rep can do least about. The merchant filled out a funding form on Facebook, another on Instagram, two more somewhere else, and every one of those forms is now a broker dialling them. By the fifth unknown number in six minutes they have stopped picking up anything, and yours is the fifth number.

Their phone is already ringing, at 3:48. Chapters and transcript →
Whiteboard headed “2. Their phone is already ringing — they filled out 4 forms. you’re the 5th broker calling.” A phone labelled “The merchant’s phone” lists four missed calls: (917) 555-0188 at 9:02 AM, (305) 555-0142 at 9:03, (646) 555-0170 at 9:04 and (212) 555-0126 at 9:07. Below a line, in red: incoming · you, 9:08 AM.
Four missed calls between 9:02 and 9:07, then yours at 9:08. It is not you in particular they are ignoring.

How four forms become seven brokers

Where the calls come fromBrokersCalling in all
The merchant’s other four forms44
Your form, sold to you alone15 — you are the fifth call
Or your form, resold to three buyers3, you included7 — you may be the seventh

The first row is the one nobody talks about. Exclusive leads remove the third row, and they are worth buying for that, but exclusivity is about who else is sold your record, not about what else the merchant did that morning. Alex sees it on his own exclusive leads: a merchant fills out his ad and another vendor’s the same morning, and the other vendor shares theirs with ten people. The difference between exclusive, shared and aged is real; it just stops at your record.

What you can actually do

  • Be the first call. You cannot stop the other forms, but you can be the number that rang before they did, and that is the only lever here that changes your position. It is a speed to lead problem, not a pitch problem.
  • Say which one you are. Name the site they applied on — the board’s example is “you filled out the application on USA Business Funding” — and the merchant knows which of the calls this is. Put it in a text before the call and in your first sentence when they answer.
  • Break through the noise. A text that says who you are and that you know they have probably had a lot of calls; a FaceTime video if you can. Anything that does not look like the fifth unknown number.
  • Buy exclusive. It does not stop the other forms, but it keeps you out of the last row — don’t pay to be the seventh broker calling.

None of this makes the lead a bad one. The merchant is still a business owner who wanted funding this morning; what changed is how many people got there first. Which is why the advice for the reason nobody controls ends up the same as for the ones you do: call first, say who you are, and keep going.

Questions.

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— Alex