5 Success Metrics Real Estate Agents Should Track

As your real estate business grows, measuring your performance becomes increasingly important. Tracking key metrics will allow you to make ongoing improvements—which can result in new leads, more listings, and greater all-around efficiency. While assessing your operations can be a challenge, it becomes much easier once you know which indicators to focus on.

If you’re ready to learn how your business is really performing (and start achieving more as an agent), start by tracking these five metrics…

1) Leads 

It’s one of the surest measures of real estate success. Whether you’re getting contact form submissions through your website or referrals from satisfied clients, a steady stream of leads is a sign that you’re doing something right. Of course, quality often matters more than quantity. When you’re looking at the effectiveness of your lead generation strategy, be sure to distinguish between relevant contacts and those that don’t engage further. Tracking this information will allow you to figure out what works for your business—and what doesn’t.

2) Website data

When it comes to assessing your marketing efforts, Google Analytics allows you to dig deeper. This suite of tools makes it easy to discover how many visitors your website is attracting, where they’re coming from, and how long they’re staying. When you’re trying to optimize your strategy, this information can provide powerful insight. If you have a steady stream of web traffic and a low bounce rate (which means the potential leads who visit don’t leave right away), you’re moving in the right direction. If you don’t, you can use the data you have to tweak your current tactics.

3) Conversion rates 

In addition to tallying up your monthly leads, you should keep track of how many potential buyers and sellers become clients. With these two pieces of information, you can easily find your conversion rate—a key metric for determining your marketing success. For a given month, simply divide your leads by the number of clients you wound up working with (then turn the resulting sum into a percentage). Between three and five is considered very respectable. From there, you can perform additional calculations to figure out the time it’s taking for leads to convert, and the cost each time.

4) Your database 

A large database can be a useful marketing tool, but only if it contains high-quality contacts. When agents create campaigns, they often make the mistake of including leads who are unlikely to show future interest. The result is typically wasted time, effort, and money. You can avoid this outcome by streamlining your database—and joining the right team. At RE/MAX Professionals, we’re committed to helping agents make highly-relevant connections to grow their networks. As a member of our team, you’ll have support from some of the most talented professionals in real estate—including industry leaders.

5) Client satisfaction 

As an agent, your most important success metric is the outcomes you achieve for clients. There’s nothing quite like sharing in the joy of happy home buyers and sellers, but the satisfaction of those who choose to work with you can also have a tangible impact on your business. From new leads to testimonials, well-served clients are a good indicator of your success. Don’t forget to ask for Google reviews, which can provide a major boost to your online credibility (around 30 is a great goal). 

Are you ready to start tracking your success as an agent—and making improvements that will take your career to the next level? Get in touch to learn how RE/MAX Professionals can set you up for success!