The 2016 REAL Trends Online Performance Study launched this month. The study offers a plethora of information about real estate brokerage websites, new technology trends and more. Let’s focus on real estate traffic trends. Knowing this information will help you make adjustments to get the most out of your site.
How does your brokerage website stack up?
By Travis Saxton, vice president of technology
Average Time on Site
One of the strongest indicators of a brokerage site’s overall effectiveness and stickiness is the average time on site. For the sites studied, the average time users spent on each site was 289 seconds or four minutes and 49 seconds, with a high of 416 seconds (6 minutes 56 seconds) and a low of 79 seconds (1 minute and 19 seconds).
Average Pages per Visit
This statistic can be tricky to decipher because it is closely associated with the average-time-on-site statistic. Over time, new website development and search results tactics have been skewing this number. On average, the consumers visited 7.76 pages per visit with a high of 20.91 and a low of 1.51.
Average Bounce Rate
This statistic is interesting because it shows the quality of traffic brokerages are generating and the ease of which users are entering your site and finding relevant information immediately. REAL Trends once worked with a brokerage that had an amazingly high bounce rate. We discovered that the main URL was one letter different than a major couponing site. It was a quick fix by filtering out the couponing traffic. The average bounce rate of sites in the study was 43.12 percent with a high of 82.74 percent and a low of 16.28 percent.
Click-through Rates and Conversions
Of the sites studied, click-through rate averages from all marketing sources range from 0.17 percent (digital banner advertising) to 2 percent with Search and up to 5 percent with Facebook. Click-through rates are only one part of the equation. Conversion rates are equally as important. These range from .5 percent on the low end to 5 percent on the high end and fall somewhere within the 2.8 to 2.9 percent industry average. Remember, these are averages. In every instance, there are peak performers. REAL Trends has seen Facebook specialized campaign click-through rates fetch over 10 percent. Facebook happens to be the source with the highest click-through rates and the lowest conversion rates; however, when you mash the two together, you get a competitive online marketing channel. Read the full report for specific sources and data.
Lifetime Value of a Lead
Adwerx built a calculator for you to gauge the true value of a lead over the lead’s lifetime. Many real estate professionals, brokers and lead sources get narrowly focused on the deal in front of them and forget that a lead is so much more. If worked properly, one lead could turn into numerous referrals and deals. This calculator is a clever way for you to put in your market metrics to see what is the true lifetime value of a lead.
The Online Performance Study is available December 8 for $149 go to http://realtrends.com/technology/tech-publications-studies/online-performance-study.
Thank you to our sponsors: Adwerx, Agent Jet, Boston Logic, Dotloop, Garlic Media, Juwai, Quantum Digital and SmartZip. If you are a client of any of these companies, you will get a complimentary copy two weeks before it is available on realtrends.com.
This article originally appeared in the December 2016 issue of the REAL Trends Newsletter and is reprinted with permission of REAL Trends Inc. Copyright 2016