Always say which conversion you mean. “Our conversion is 2%” could be leads to bookings or calls to visits, and the two are not comparable. Real estate teams usually track a chain: lead → contacted → qualified → site visit → negotiation → booking or agreement. The weakest step in the chain is where to work first.
Compare like with like. Conversion rates differ by source (referrals beat portal leads), by product (rentals close faster than ₹3 Cr homes) and by period (a launch month is not a normal month). Use a fixed cohort — leads created in a month — and wait long enough for slow buyers before calling a month good or bad.
Example
Reading a funnel (illustrative numbers)
In September a Pune brokerage gets 400 leads, contacts 300, qualifies 150, hosts 60 site visits and closes 6 deals. Lead-to-visit conversion is 60 ÷ 400 = 15%; visit-to-deal is 6 ÷ 60 = 10%; lead-to-deal is 1.5%. Contact rate (75%) looks fine, so the owner works on getting more qualified leads to visit.
Figures are illustrative, not market rates.
Questions about Conversion rate
What is a good conversion rate in real estate?
There is no reliable public benchmark for India, and published figures mix different stages and markets. Measure your own rates by source and stage for a few months and improve against your own baseline rather than a number from someone else’s business.
How do I calculate conversion rate?
Divide the number of leads that reached the stage by the number that entered the previous stage, then multiply by 100. For example, 12 bookings from 80 site visits is 12 ÷ 80 × 100 = 15% visit-to-booking conversion. Use the same cohort for both numbers.
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