Source: Inman —
It is a good time to examine the state of real estate lead generation as we end one of the most dynamic periods of real estate lead generation ever — and see where you can benefit under new market conditions.
The market has stabilized after experiencing wild shifts in lead prices during the last two years caused by the pandemic.
At the beginning of the pandemic in March 2020, real estate search traffic plummeted, which caused lead prices to increase briefly. (Search traffic is a primary factor in lead prices. More traffic causes lead prices to go down.) This initial panic was followed by a big spike in search traffic, which then prompted lead prices to improve dramatically for the remainder of 2020 and the first part of 2021. The cost per lead of the CINC portfolio from the 2nd quarter of 2020 to the 1st quarter of 2021 was the lowest in CINC’s 10-year history.
Since then, prices for leads on the search and social platforms have increased consistently and are approaching — but not matching — pre-pandemic lead prices.