KPIs (Key Performance Indicators)

[David Richter]

What KPIs are people using for their Real Estate Businesses? We are looking to dive into this deeply and would appreciate any help that can be offered.

[Brian Cam]

I use conversion rates for each type of lead (pre foreclosure, probate, etc) from mailings

response rate per type of mailing piece

response rate from bandit signs

conversion rate from lead to offer

conversion rate from offer to deal

There are a number of others you can do: ROI per marketing method, sales cycle, and a bunch of others. The key is to focus on tracking leading indicators (because those can help you pivot and adjust) not the lagging indicators as much (because that is what happened already and those cant be changed).

Feel free to reach out if you are looking for any other ideas