Banking off recent years’ global, steady rebound (in terms of global economic stability) despite the COVID pandemic, United States’ home owners are manifesting themselves as a rejuvenated group of buyers, looking to turn the page in their own lives and start new lifelong experiences; based on 3rd party statistics from last year (2022):
- approx. 43% of home owners in the market used the internet to find their dream homes – meaning: the share of internet buyers overwhelmingly-rose to 97%,
- of those 43%, 88% utilized real estate agents and/or brokers to complete their purchases,
- 5.70 million+ existing homes were sold between 2020-2022,
- 822 thousand+ newly-constructed homes were sold between 2020-2022, and
- when selling their homes, 90% of home sellers utilized real estate agents/brokers to complete their sales.
With such a transparent, and apparent, positive statistic & forecast regarding the state of real estate buying/selling within the United States – as well as a confirmation of the sheer-importance of real estate firms when it comes to U.S. home owners’ purchasing process & property preferences – it’s highly-important that real estate offices have a strong understanding of how they can boost their overall real estate sales to the next level; to accomplish this, real estate offices should gain knowledge into what key real estate KPI & real estate metrics they should be monitoring – which helps them to understand where they’re weak at in terms of meeting their sales goals – as well as where they are excelling at.
According to Callnovo Contact Center: monitoring key real estate KPI ensures successful sales strategy improvement, improving clients’ satisfaction experiences & fortifying stronger brand growth & overall brand reputation – resulting in next-level sales market competition. Let’s get into real estate marketing KPI/real estate marketing metrics that guarantee next level sales opportunities & sales conversion.
We’ll look at:
- 6 crucial real estate KPI & real estate metrics to track, and
- how Callnovo’s customer-centric, multilingual & omnichannel call center outsourcing solutions help take real estate firms’ – like yours’ – sales success to new heights.
Crucial Real Estate Marketing Metrics for Boosted Sales Opportunities & Conversions
KPI #1: Appointment to Listing Conversion Rate (A-to-LCR)
A-to-LCR measures the percentage of converted real estate appointments with potential sellers that turn into active listings; this is measured per real estate agent. A-to-LCR essentially helps determine the no. of appointments needed per agent and/or team so that sales targets are achieved. To measure the impactfulness of this KPI, along with many other metrics, it’s highly-important to have an abundance of data available to analyze – such as: actual conversions vs seasonal/long-term market changes.
To calculate A-to-LCR:
KPI #2: Listings Closed (LC)
LC reflects the total no. of closings your real estate firm acquires over a given period of time; this KPI is most beneficial when determining changes in gross profit – very useful for short-and-long-term comparisons so that sales growth & success can be predicted – and so your business can effectively move forward with stronger sales market success.
KPI #3: No. of Days on the Market (NDM)
NDM (like LC) helps track market conditions – and, similarly, this figure can be used to adjust listing prices depending on such market conditions. For example, home sellers may be willing to adjust prices if their listing time on the market is longer in an effort to close the sale quicker, also allowing your real estate office to allocate resources accordingly for more efficient projects.
KPI #4: Sold Homes per Available Inventory (SHAI)
SHAI is very useful in enabling your real estate team to have a better understanding of current market conditions – as well as help adjust your sales expectations and market forecasts accordingly.
To calculate SHAI:
KPI #5: Click-through Rate (CTR)
CTR is a viable key performance indicator that determines your effectiveness and efficiency in persuading your real estate broker’s website visitors to click on your listings. Such content includes: ads running on different platforms (such as Facebook, LinkedIn, Instagram, TikTok, etc.), general content, various real estate website pages, search results appearing in search engines (such as Bing, Google, etc.), and others. Any high CTR in paid digital advertising generally-means lower costs per click. Furthermore, high CTR means your firm has better chances to improve your Google organic rankings. Additionally, your real estate business can measure paid digital advertising campaigns’ CTRs against varying industry averages to determine how well you’re doing in terms of marketing & sales opportunities.
To calculate CTR:
KPI #6: Conversion Rate (CR)
CR effectively-measures the no. of visitors that complete your sales goals; for example, this can be an email list sign-up, a contact to schedule a property showing, a contact to schedule potential seller pre-visits, etc. A real estate firm’s essential marketing goal is to generate buyer/seller leads via contact forms. CR, additionally, provides insight into how well your offers are doing – and whether they’re meeting potential clients’ needs. As another example, if you confirm higher conversion rates on specific property listings, more than likely this means that such listings are a right fit for more clients – also meaning that they’re properly-priced. When talking about paid traffic campaigns, you can compare CR with specific platforms’ average industry CRs. Google Ads, for instance, provides an average conversion rate (ACR) of 2.47 percent; knowing this allows you to see: (1) how well your campaigns are doing, and (2) if there’s room for improvement.
To calculate CR:
Callnovo’s Real Estate Marketing Outsourcing Solutions
Callnovo Contact Center enhances real estate firms with excellent, customer-centric inbound/outbound (including market survey, lead generation, sales, and lead cleaning) solutions ensuring strong, global, long-term brand growth & sales success above competitors; as your real estate broker business considers the above-mentioned real estate KPI & real estate metrics for steadily-increasing sales opportunities & sales conversion growth, strong, long-term real estate market sales success is guaranteed, leading to long-term, global market share and overall global sales success improvement.
Here’s key advantages to Callnovo’s dynamic service & sales solutions:
- High-quality Expertise – quality real estate agent personnel skilled in areas as:
- customer-centric, competitive sales attitude,
- strong communication & soft-skills,
- integrity,
- soft & hard negotiation skills,
- problem-solving skills,
- teaching skills,
- tech savviness,
- real estate industry knowledge,
- time management skills, and
- others.
- Always-available Service – maximizing client satisfaction/CX by continually-meeting needs without limit.
- Omnichannel Support – accessible, rapid contact solutions through all comm. channels – guaranteeing always-ready support, leading to enhanced CX, influencing long-term client brand ambassadorship/loyalty.
- Native Language Support – meeting needs efficiently, conforming to cultural expectations, improving customer loyalty.
Conclusion
To ensure stronger global, long-term housing market sales success, successfully-monitoring the above-mentioned real estate KPI & real estate metrics is crucial to ensuring reputable sales competition against real estate competitors. Callnovo offers a viable outsourcing solution to meet high your business’ short-and-long-term sales market goals, improving your brand’s long-term growth & success.