BrokerPulse

RealTrends Q32021 BrokerPulse sees brokers still optimistic about the market, wary of competition and wondering when inventory will rise.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Knock.com’s Sean Black on the transaction revolution

Real estate is on its third revolution, from the digital revolution of the early 2000s to the information revolution kicked off by Trulia and Zillow to today's transaction revolution.

Newsletter

The RealTrends BrokerSource and HousingWire OpenHouse newsletters deliver twice weekly information on trends, strategies, analysis, people, and news shaping the real estate industry.

Digital Marketing: It’s a Numbers Game

Let’s face it: most digital marketing strategies are a numbers game, and the following equation is the Holy Grail:

Impressions (number of views) X Click-Through Rate (U.S. average for all sources is about .17%) X Online Lead Conversion Rate (average is 2.5%, but it ranges from .5% to 5%) X Closing Rate Over Time (which can vary from 1% to 10% with the right system)

Now let’s simplify this: ((Views X CTR) X Conversion Rate X Closing Rate = Digital Marketing Deals

Here are two common mistakes brokerages make:

Mistake No. 1: Falling in love with one metric, such as click-through rate (CTR). We’ve seen Facebook ads draw CTRs of nearly 9 percent, which is excellent. But, Facebook converts those clicks at .5% or less. These two metrics don’t offset each other. Facebook still a good lead source, you just need to work a lot harder as it produces lower quality leads.

Mistake No. 2: Putting all your eggs in one basket. Some firms or teams go all in on Facebook, SEM, listing portal leads and more. The problem is that those leads are mostly buyer leads. We recommend diversifying and equally targeting and generating buyer leads, seller leads and sphere leads. You can use digital marketing to accomplish all of these effectively.

Know your metrics or use the common metrics to gauge your ROI.

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