Digital Conversion Rates in Real Estate: What’s Considered “Good”?
If you’re in real estate and you have a website, landing page, or Facebook page – it’s nice to know how many people visit, but it’s even more important to understand how many people convert. What is a good conversion rate in real estate and what are some easy steps you can take today to improve?
FIRST – WHAT ARE WE TALKING ABOUT?
What are we talking about when we talk about digital conversion rates? We are looking at the total number of visitors who complete a lead generation form divided by the total number of visitors to a page or website. Essentially, these visitors are going beyond just viewing your page. By releasing their contact information, they become a lead for your agents.
The average conversion rate across industries is 2.35% according to WordStream. Inside Real Estate claims that number is closer to 1% for real estate. That means if 100 people visit your landing page, 1 person will leave their contact information.
WHAT ARE SOME WAYS TO IMPROVE CONVERSION RATES?
1. Rethink your offer or call to action
Many real estate websites or landing pages have the same call to action, something along the lines of “Speak to an Agent Today” or “View this Property.” Get more creative: “Take a tour of the neighborhood” or “download a complete report on this property.” Test out different offers and see if you get a better response.
2. Make sure your page is loading quickly
47% of visitors will abandon your site if it takes more than three seconds to load. The more videos, information, graphs, and photos you have on a site, the slower it will load. If the site doesn’t load within three seconds, see what changes you can make to speed things up. Your conversion rates will improve as a result.
3. Add testimonials
In the age of recommendations and social media, many visitors live and die by testimonials. How can you incorporate testimonials about your agency, agent, or even the home itself in your pages? This immediately builds trust and leads to higher conversion rates.
4. Minimize your fields
The more questions you ask, the more people will drop off. So review every question you ask a lead and make sure it’s necessary to your sales process. If you’re asking them to fill out 15 fields of information, your conversion rate will plummet. If you’re looking to identify more of the visitors coming to your site or page, consider limiting the number of required fields in your lead form.
5. Take another look at your buttons
The buttons on your call to action should be eye-catching and appealing. If they are blending into the rest of your page, people might miss them. Your call to action buttons essentially announce what you want your visitors to do, so make sure they are clear. Many of the clients of our engagement system, for example, use graphics or widgets as part of the button to pull in more contacts.
These are five things you can do today to help improve conversion rates. Always A/B test you pages to find out what is making an impact. By focusing on this changes, you will start to yield more leads from your digital marketing efforts.
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Please contact us if you have questions about the underlying data referenced in this article, or would like to have access to that data in the form of custom reports, API, Bulk File or DaaS.