Real estate lead prices finished the year strong – ending a record 2020 for CINC cost per lead. CINC’s 4th quarter cost per lead at $4.48 was our lowest ever for a 4th quarter. This report focuses on Google Buyer advertising which is the majority of CINC’s advertising spend.
The CINC CPL for 2020 as a whole was the best in CINC’s history and more than 30% better than 2019. The CINC portfolio had a CPL of $3.82.
The improved CPL was caused in part by the pandemic which increased online home searching this spring and this heightened search traffic continued throughout the year.
CINC is the leader in online real estate lead generation with more than 3,000 clients. The CINC client marketing team manages almost $30 million in search and social advertising spend annually.
Every top 50 market saw their average CPL improve year over year in the 4th quarter – led by big gainers Atlanta and Detroit. Only six markets in the top 100 markets had worse lead prices in 2020. Of the top 100 markets, 16 had lead prices less than $3 per lead. The best CPL was for Corpus Christi which was a tiny 51 cents.
The CPL has been pretty steady over the last 6 months. I expect the strong performance to continue into 2021. The cost per lead should improve in the 1st quarter because real estate search traffic increases after the holiday season.
Sincerely,
Dan Lott
VP of Client Marketing
For more information visit www.cincpro.com.