The New KPIs to Measure in 2023

Over the past few years, the real estate industry has been undergoing a digital transformation and as a result, traditional KPIs such as revenue and client acquisition are no longer enough to measure success.

Now more than ever, it’s important for real estate agents to stay ahead of the curve and understand the new KPIs that will define success in 2023.

According to Bespoke Media Group's chief executive Nic Fren, there are four key metrics that should be on every real estate agent’s radar.

Keep People Interested

One of the most important things that real estate agents can do is keep people interested in their services.

This means having an active presence on social media platforms like Facebook, Instagram, TikTok and LinkedIn—allowing prospective customers to get to know you and your business on a personal, social level.

The internet has made it easy to access information about anything within seconds. This means potential clients are more informed than ever before and need to be convinced that when the time comes to make a shift, you are the right agent for them.

It’s no longer enough to just list and sell property; you must also actively engage with your marketplace by providing interesting content that appeals to their needs and interests. Investing in creative campaigns that incorporate visuals and interactive elements can help attract attention and generate interest.

Keep People Informed

Having a well-informed client base is key for any successful real estate business. Providing up-to-date information about market trends, legal changes, local events, etc., is crucial for making sure your clients have all the knowledge they need to make informed decisions when buying or selling a home.

Staying current on these topics will not only help you answer questions from clients but also give you great ideas for content marketing that will keep your brand top of mind with potential customers.

It's not always about our listings and sales. People are not always ready to transact when we want them to, they care about what they care about.

This week saw an interest rate rise here in Australia. This is a perfect opportunity to jump on the front foot and inform their marketplaces what the rise actually means. Going that extra step is going to elevate your status as a trusted advisor in your area, opposed to simply reporting the rise.

Staying ahead of the curve and ensuring your customers are getting accurate information quickly, consider investing in technology solutions such as AI-driven chatbots or automated newsletters or bulk SMS that can help you share timely updates with ease.

Keep People Involved

It’s essential to build relationships with members of your community if you want your business to thrive in the long run. Social media provides an excellent platform for connecting with past clients as well as potential new ones by sharing industry news or hosting online events such as virtual open houses or Q&A sessions on Instagram Live or Facebook groups.

From a buyer's perspective. consider using virtual open houses or video tours of properties so buyers can see what they are getting before signing on the dotted line. Additionally, don’t forget about existing clients—nurturing relationships with them will ensure they come back again next time they need help with their property search or sale!

Keep People Inspired

Inspiring potential clients can go a long way towards getting them interested in buying or selling a home through you. Showcase examples of successful projects you have worked on – whether it’s helping first time buyers find their dream home or guiding investors through complex transactions – telling stories about how you helped others achieve their goals can be incredibly powerful marketing tools!

You can share these stories through blog posts, newsletters, videos and other types of content that showcase your expertise while inspiring others at the same time!

Real estate agents often face an uphill battle when it comes to staying competitive in today’s ever changing marketplace; however, by focusing on keeping people interested, informed, involved, and inspired - they can set themselves apart from their competition and increase their success rate exponentially!

By taking advantage of digital platforms such as social media and creating engaging content focused around these four KPIs - real estate agents will be able to ensure they are providing top notch service while standing out from the crowd!

Written by Bespoke Media Group

Bespoke Media Group is an international social media marketing, training & education agency, providing agents the tools needed to be a success on social media.

With over 850 members across Australia, New Zealand, Fiji, Canada, United States & the UK, find out why more agents are making the shift here

If you would like to discuss becoming a bespoke member and work with the best in industry when it comes to social media in the real estate industry, please reach out to Paul at pr@bespokemediamanagement.com