This blog post covers what realtor/ agent CPL is, the average costs, what LYNK Digital Marketing projects as an average CPL cost, and how CPL works, along with typical advertising services for realtors.
What is CPL? Realtor/ agent CPL?
CPL is an acronym for Cost Per Lead - lead meaning a prospective customer or contact - therefore, realtor/ agent CPL is the cost per lead for a realtor/ agent. In other words, realtor CPL is equal to the average costs it takes a company to generate leads for a client (a realtor/ agent) through advertising practices.
What CPL affects.
If an advertisement service is working with a realtor to run the realtor's advertisements, that advertisement service would have their own average CPL for similar types of advertising. If that average CPL is high, the realtor would be charged more monthly to cover the costs of generating leads.
The cost per lead is a very important metric in determining a majority of aspects regarding how an advertisement service should be advertised, how it should run, what content should be displayed, etc. If an advertisement brings the average CPL down, then looking into what causes that change can be beneficial with current/ future campaigns.
CPL isn’t an inert metric/ statistic, the average cost per lead will be changing constantly based on many factors related to the type of campaign, and the industry.
LYNK CPL projections/ averages
The cost per lead can vary depending on many things such as industry, target audience, content, and many more factors.
According to Wordstream, in 2019, the average CPL across clients in the real estate industry was around the $116 mark.
LYNK clients on average can see CPL averages as low as the $16 mark. It’s very important to keep in mind that these numbers are averages and are specifically related to the real estate advertising industry.
If LYNK can offer realtor CPL costs nearly 10 times lower than other averages, it goes without saying that LYNK would also have CPL average costs much lower than the respective averages in other industries as well.
Take a look at LYNK Digital realtor services HERE
Where realtor CPL could be going
As we’ve covered, CPL is constantly undergoing change, and is by no means a static metric. Changes to CPL are very much based on what industry the advertisements are being displayed in/ for.
In the case of realtor CPL, the average cost per lead would be greatly affected by how the market for real estate currently sits. If the market is in a bad spot for potential real estate buyers, you could see the average CPL increase, while seeing the average PPC - (price per click) the price it costs for each individual click on an advertisement - decrease due to less potential buyers being interested in the current market (not clicking on advertisements).