Overview (click below to jump directly to a section)
- 2022 Real Estate Google Ads Market Trends
- Google Ads Real Estate Local Targeting Improvements
- New Google Real Estate Local Service Ads for Realtors
- What are Google Local Service Ads for Realtors?
- Why Did Google Develop Local Service Ads for Real Estate Teams And Agents?
- What does cost per lead look like Google Local Service Ads for real estate?
- Google Local Service Ads Recommendations for Realtors Before Launching
- Google Local Service Ads Best Practices for Lead Distribution for Real Estate Teams
- Collecting Real Estate Reviews for Google Local Service Ads
- Real Estate Lead Conversations from Google Local Service Ads
- 2022 Google Local Service Ads Real Estate Case Study | 20X ROI
Our belief at CINC is that Google Ads is the best tool for realtors to generate the most high quality leads in your preferred areas for the least amount of money. It is so important to have the ability to generate leads in your desired locations. We hear from many real estate teams and agents who use Google Ads that they are generating a bunch of leads that are not in the right areas or are getting junky quality leads.
Our purpose here in this guide is to show you that there is a better way. There are many resources available to you to avoid common pitfalls of bottom-performing real estate teams and agents on Google Ads. Executing the right way on the front end is incredibly important in order to ensure that you are getting high quality leads going forward.
Don’t trust us, though. Trust our Premier Google Partner distinction that Google has recognized us for our work in managing $30MM annually in spend for real estate teams and agents across North America in the United States and Canada.
CINC was built in a downturn after the late 2000’s housing crash. We’ve seen repeated changes in the market and how the best teams and agents have leveraged Google to navigate downturns and turn up ahead when the market came back. What we have repeatedly found is that it is critical for real estate teams and agents to continue to invest on online real estate generation through market downturns.
For example, in 2020 during the pandemic mini-housing recession, we saw that agents who doubled down during the 2020 dip saw a massive boom when the market came back. They had a huge leg up on competitors because their pipeline was already full while their competitors we’re still trying to ramp up to catch up. During the downturn is not the time to cut. In fact, the downturn can be the best time to continue to invest if not increase investment on Google Ads to grow a real estate business.
Free Google Ads Real Estate Submarket Targeting Tool - Request Access Here
2022 Real Estate Google Ads Market Trends
To be candid, the past two or so years have been challenging and bumpy. The highs in the market have been really high. The lows in the market have been very low. When COVID and the pandemic hit in Q1 and Q2 2020 there was unprecedented decrease in the cost per lead.
Real Estate Google Traffic Trends
The lead flow on Google for realtors and brokers also shot up astronomically as there was an explosion of pent up demand after the first few months of lockdowns.
In the pandemic, we saw an uptick in Google search traffic from real estate buyer leads related to the uptick in overall buyer demand on the market. What not as many agents realized is that there was an uptick in traffic volume related to buyers working from home and staying in more frequently at night and on weekends.
We observed that prospective buyers spent considerably more time online browsing homes than they would when working 40 hours a week in an office setting and going out on weekends and carpooling kids to sports and other extracurricular activities.
With the overall housing market cooling off recently with higher interest rates and more American and Canadian workers (who are also prospective home buyers) returning to the office during the work week and more people resuming normal activities outside of the home, the search traffic has gone down a little bit as people aren’t glued in front of their computers and smart phones as much.
Home search traffic in the United States and Canada on Google decreased year-over from 2021 to 2022 for the first-time in the past decade! We use the phrases “homes for sale” as the best proxy for this data over time. You can try for yourself at Google Trends.
Source: Google Trends data for search query "Homes for Sale"
This is the best benchmark for search traffic. We’ve been doing this for over 10 years and have never seen this before. It has not completely plummeted but is has gone down about 15% year-over-year.
In the Google Trends chart above for “homes for sales” search queries, the high point of traffic is 100%. Following the trend over time you can see that 75% was the high point in 2019. Then, in during Spring 2020 during the typical busy season the search queries plummeted briefly down to 50 before rebounding even higher to nearly 100% later in the summer of 2020. Then in 2021 after the typical late fall/winter drop off in traffic, search traffic for “homes for sale” hovered around 100 for most of the spring and summer of 2021. 2022 is another story as it has not really broken much out of 85% range even during the busy spring and summer months.
Free Google Ads Real Estate Submarket Targeting Tool - Request Access Here
- You can see our original 2022 predictions on Inman here
- Watch our hour long prediction webinar here from beginning of year with overview of current important trends on Google
- Watch our mid-year 2022 1 hour overview webinar here of current Google trends
Long-Term Google Real Estate Cost Per Lead Trends
Even though 2022 has been a rocky year for real estate lead generation on Google, there is an overall positive longer-term trend that has continued to benefit real estate teams and agents who have aggressively invested ad spend on Google.
As with the overall housing market, there are ups and downs but the overall long-term trend from a cost per lead standpoint on Google for buyer and seller leads is improvement.
The yearly cost per lead is going down. 2022 will probably be up a little but will still likely be in $4-6 cost per lead range which is still down considerably from nearly $10 cost per lead a decade ago. Event with shifting market in 2022, we don’t still don’t see any long-term impact to the broader trend of cost per lead decreasing on Google in long-term.
- Q2 2022 Google Buyer Real Estate Lead Cost Report
- Q2 2022 Google Seller Real Estate Lead Cost Report
- Q2 2022 Google Real Estate Lead Value Index Repor
Google Ads Real Estate Local Targeting Improvements
In the past few years, the ability to do hyper-local targeting at a precise submarket level has become critical for success on Google for real estate teams and agents.
Google Ads Local Real Estate Targeting Tool
With the real estate teams we work with, we focus on bottom of the funnel and quantity of leads. It can be a difficult balance. That’s why we’ve recently developed a tool to help real estate teams focus on the right quality local submarkets in their broader market that will get them the most quality leads at the right price. We’ve been helping real estate teams and agents across the United States and Canada for over a decade now. We have more data than anyone else in the space.
Our Google targeting tool ultimately answers what are the best geographies, submarkets, neighborhoods, landmarks, etc. to target within a market for lead generation on Google.
Using this tool, you can put in a city. For instance, Marietta, GA (where CINC used to be headquartered) is right outside of Atlanta. So Marietta itself is a submarket within broader Atlanta metro market area. However, the key to success in Google Ads for realtors is to dig deeper.
Free Google Ads Real Estate Submarket Targeting Tool - Request Access Here
For instances within Marietta, there is value from both a cost per lead and a lead volume standpoint in also targeting high schools within Marietta. After all, many serious prospective home buyers focus on homes within their desired school district. While targeting Marietta itself has a pretty good cost per lead (CPL) of $4.65. Sprayberry High School (within 5 miles of center of Marietta) has an even lower cost per lead of $2.21.
Furthermore, these are leads that Marietta centric keywords would not have picked up and leads that are focused on a school district as opposed to just a city or a large metro tend to do be further along in the home buying cycle. Part of the reason the cost is so much better is that so few other realtors have the sophistication to target at the granular school district level. Thus, creating an enormous opportunity for realtors who are able to target at that level.
The targeting tool here is a great way to find and learn how to target these hidden areas that most peers in the market are missing. Our experience shows that hyperlocal target on Google for real estate leads is most effect when going after hidden hamlets, schools, zip codes, landmarks, geologic features, and neighborhoods.
These are normally very difficult to find on your own and can be very difficult to uncover. It often times requires years of testing. Our targeting tool is able leverage our past learnings to uncover these areas for you. Other sites and MLS feeds do not have this level of data.Free Google Ads Real Estate Submarket Targeting Tool - Request Access Here
Executing Google Ads Strategy Based on Local Real Estate Targeting Tool Insights
Then to go even further, you would then target niches within the hyperlocal submarket. So for instance in the example of targeting a school district like Sprayberry High School, we would also recommend creating subniches within the submarket. So instead of just targeting “Sprayberry high school homes”, we recommend going a step deeper with 70+ niches like “luxury homes near Sprayberry high school”, “homes on golf courses near Sprayberry high school”, “4br homes near Sprayberry high school”, etc.
Example of hyper-local home search related to school district for Sprayberry High School near Marietta, GA.
The other part of this that is important is determine which submarkets are worth time. So it is important in the keyword research to be able to determine the volume of real estate leads that come though on Google in those specific submarkets. In the example above, Marietta overall typically generates 81 leads per real estate team client. However, Sprayberry High School generates an additional 33 leads on Google per real estate team client, which is pretty sizable considering it is a small submarket within Marietta.
And as mentioned previously, they are more bottom of the funnel. They are not just somebody at the beginning of their home search. This is somebody who knows the area who have been looking for awhile and has really refined their home search. They are just further along in the process.
I think the way people search is important. People ask about what the big difference is between regular Google advertising and advancing to more sophisticated Google advertising that drives real results for realtors. The big difference from our perspective is the automation and the data to put sophisticated targeting on Google in place.
If someone finds out tomorrow that they are relocated to Hawaii. Someone might start looking very generic In Hawaii. Then as they learn more narrow down to a specific city. Then the search is further narrowed down to a specific neighborhood or school district or a zip code or a point of interest. Automation allows agents to put ads and landing pages and keyword targeting to be able to do that very quickly and do this at scale across multiple targeted areas.
Your whole Google advertising campaign to real estate leads cannot just be one school district like Sprayberry High School. So you need to be able to target a number of small submarkets like this. In the aggregate these leads will outperform because they are lower cost (b/c of reduced competition) and they are higher intent. And by targeting multiple of these small submarkets you’re getting a diversified flow of these types of high intent leads.
This is a huge competitive advantage because so few realtors who are advertising on Google are able to do this at this degree of sophistication.
Free Google Ads Real Estate Submarket Targeting Tool - Request Access Here
Point of Interest is critical here as well. In the example above, Kennesaw Mountain GA is another submarket that is a different category (geologic feature as opposed to school district). But these points of interest can also be other things like colloquial terms. Specifically, this means search terms that only someone local to the market would know.
Somebody just starting to look at moving to town or earlier in the buying process who is still early in the research phrase would no know that term yet. So in some ways by targeting at this granular of a level, you are getting an added benefit of filtering out some of the less qualified potential traffic.
It’s not about just targeting against what the MLS provides. Targeting at these micro points of interest is critical.
The CINC platform includes a hyperlocal radius tool. We use this tool to help build campaigns. We use it to find submarkets within Marietta to create ad groups focused on each of these geos. In this case you would have an ad group for “Kennesaw Mountain GA”, “Sprayberry High School GA”, “30067 GA”, “West Cobb GA”, etc.
Example of hyper-local home search for point of interest Kennesaw Mountain near Marietta, GA.
Real estate teams use this to determine which markets to focus on when launching new landing pages and ads for Google.
There are questions about saturation in certain markets. This comes up for us in cases where we work with multiple realtors who overlap in same markets. This helps realtors make educated decisions on going to their targeted areas and avoiding certain areas where there are starting to be more saturation (they can see this in lead cost going up).
In that case they can focus more on submarkets with lower lead cost which indicates there is less saturation. This is very difficult to do on own as an individual realtor. The sad thing here is the many realtors just assume their market is oversaturated on Google and just give up in some markets.
When in fact, if they had the ability to dig deeper in Google real estate market research, they would find there are much bigger opportunities at the submarket level.
In order to do this, you need to able to create 250 ad groups for a specific Google advertising campaign for a real estate business. Doing this on your own becomes very challenging.
Another item to consider is that the broader the search term the more likely they may not be ready to have a conversation. Also at broader search level, they are more likely to enter in a fake number. At more targeted searches like “homes for sale near Sprayberry high school”, they are more likely to put in legitimate information.
They tend to know what price point they are looking for. They know where they want to send their kids to school. What they want to live near. When realtors see a high percentage of bad contact information leads, this is one of the biggest levers we see work in terms of driving leads with better contact information.
With that being said, leads with bad names or phone contact info who are in home searches that are far out will always be a part of Google advertising. However, this speaks to the importance of the need for the right technology and processes to nurture these leads over time.
We work with many real estate teams that routinely turn leads that might initially submit incorrect contact information like name or phone number that eventually turn into closed deals over time as they are continuously nurtured via email and remarketing, property alerts. It’s not crazy to see someone who comes in as “Mickey Mouse” through a Google search ad but submits a legitimate email. Then after a year of nurturing, they reach back out to realtor when they are ready. We see examples like this all the time.
It’s a combination of ads being able to hone in but also have a system to nurture leads that are not ready on front end.
- Google Ads Submarket Finder Tool for Real Estate Leads
- Google Ads Hyperlocal Advertising for Realtors in Action (overview of how Submarket Finder Tool works)
New Real Estate Google Local Service Ads for Agents and Teams
We’ve been testing Google Local Service Ads pretty extensively for about the past year now. We have now started to uncover some patterns and best practices that seem to work well. We are very bullish on the continued impact of Google Local Service Ads for realtors.
What are Google Local Service Ads for Realtors?
Google Local Service Ads are designed by Google to effectively help realtors find and capture buyers or sellers when they are further on in the process and closer to making a decision. These leads tend to be lower in the funnel.
The examples above show the different types of search queries that are populating these Local Service Ads for realtors. Examples include “atlanta ga realtor”, “best real estate agent in atlanta ga”, “roswell ga real estate agent”. Typically in a lot of Google online real estate advertising, it was typically based on people looking for homes. In examples of people looking for real estate agents, the approach is different.
Example of a Google Local Service Ads with Location in Search Query.
While the examples above have geo-specific terms in search query, Local Service Ads can also target search queries like “realtors near me” or “find a real estate agent” or “top real estate agents” and adjusting the geo-targeting parameters in campaign setting so they will just pick up those search queries in a desired area. We show the ad to just local traffic.
Example of a Google Local Service Ads without Location in Search Query.
Why Did Google Develop Local Service Ads for Real Estate Teams And Agents?
We have seen a huge amount of search volume move from desktop to mobile devices over the past 5 years. There is nothing new here and not surprising to anyone. Mobile devices have really been taking over. The Local Service Ads for Realtors were developed by Google to capture traffic on mobile devices. Local Service Ads work fine for realtors on desktops. But their real sweet spot is for mobile traffic. It is really designed to show on mobile devices.
As soon as someone sees the ad, they click the ad, and a phone call is made immediately. So it is essentially someone who is looking for an agent to get connected with an agent at just the push of one button. That’s why the top realtors we work with are so excited about it.
This is not just LSA campaigns but this along with everything has talked about it. We really believe that this is becoming an increasingly large part of any top performing real estate team’s Google Ads strategy. And we believe this will continue to grow in the years to come as Google continue to optimize the mobile search experience for buyers and sellers looking to connect with local real estate agents as quickly as possible. Top agents need to be here because this is where a lot of the future growth will be on Google.
Free Google Ads Real Estate Submarket Targeting Tool - Request Access Here
What does cost per lead look like Google Local Service Ads for real estate?
The next question then becomes what does the cost per lead look like compared to typical cost per lead. It varies by market based on home values in those markets. Across the entire portfolio of real estate teams and agents we work with we are seeing a typical cost per lead of around $30 to $60 per lead on Local Service Ads compared to around $4 to $6 for real estate buyer leads on Google and $10 to $20 for traditional seller leads on Google from traditional Google Ads. Now $30 to $60 might seem like a wide variance but that is due to a wide variety of real estate teams we have worked ranging from low end of housing values in Bowling Green, OH to the high end in Los Angeles, CA.
When we say lead this is not like typical Google Ads. This is not just pay per clicks and then measuring form submissions on a landing page and optimizing for conversion. A leads in the Google Local Service Ads world for realtors is defined as a phone call connected on the spot with a realtor and a buyer or seller that lasts longer than 30 seconds.
The beauty is that the real estate team or agent is only charged when a 30 second phone call is made. This is a huge step forward in towards of cost efficiently optimizing spend on Google towards the right results. This can also be set up with text messages as well. So we like to view it as a step up from pay per click to pay per phone call or in the case of text messages pay per very legitimate lead.
Source: Additional Google Local Service Ads overview information
If someone calls and asks about a rental or it is a sales call, no many changes hand and there is a dispute process. As a sidebar, that is why a lot of realtors and real estate agents work with us on Local Service Ads on Google. The dispute process with a giant company like Google can be a bit tricky to navigate. Over the past years by working with our wide swath of clients, we have developed best practices to help expedite the dispute process here.
That is something we handle entirely for our brokerage realtor clients. We have done a lot of these through test and we know what Google is looking for in terms of disputes. There is no learning curve now for us versus the opaque process that can be frustrating for other realtors we have seen who have gone at it alone.
There was a learning process before for us but we have now learned it. Our perspective, is that a real estate team or agent’s time is better spent showing houses as opposed to navigating Google’s dispute process for faulty charges related to bad calls via Local Service Ads.
There have also been a lot of changes on Google side with Local Service Ads being so new. So it is has been helpful for us and the real estate teams we work with to have a monthly call with Google’s Local Service Ads team where they have kept us in the know on upcoming changes which has allowed our realtor clients to stay ahead of the curve versus their peers when it comes to using the most up-to-date best practices on Local Service Ads.
For instance, Google Local Service Ads is not live yet in Canada. However, we are working closely with our real estate clients in Canada, so they are ready hit the ground running of Google Local Service Ads for realtors being live in Canada.
Google Local Service Ads Recommendations for Realtors Before Launching
At the end of the day, Google Local Service Ads are all about connecting someone searching on Google with a real estate agent or business at the push of a button. As a result there is a bit of important vetting that needs to be done. As such there are some requirements to launch.
Some of these are requirements based on our experience at CINC of best practices on what works. Other requirements are from Google to even be able to run Local Service Ads.
We have found that if someone doesn’t have the enough positive reviews they are not competitive enough. If one agent has 4 reviews at 3.2 stars and another has 600+ reviews at 4.9 stars. The high volume and high rated agent will get called by the prospect almost every time.
Example of Reviews of Google Local Service Ads for Nashville Search
We have found that any one in the single digits in terms of number of reviews on Google has not been competitive enough and has struggled to get value of the product. That is why we don’t recommend realtors start using Local Service Ads until they at least have 10 or more (preferably) quality Google business profile reviews. We also see that realtors or real estate businesses need to have a minimum 4 star rating or higher as well to be competitive.
As another sidebar if you as a real estate team or agent don’t have that many reviews, we have some best practices to help you generate enough quality Google business profile reviews so you are in position to effectively take advantage of quality opportunities to generate leads on Google Local Service Ads.
For instance, one of our top brokers that we work with has over 1000 reviews on his Google business profile. This did not just happen by accident. He and his team put a lot of time into this over the years. Now that he is in this position from a Google review standpoint, Local Service Ads campaigns have been a complete game changer for him in terms of growth. The good news is you don’t need 1000 reviews to be successful. We just share this to highlight that a lot of hard work goes into getting these reviews but the rewards at the end of the day can be huge due to these new changes on Google.
On top of that, in working with that broker, we have seen first hand the importance of ongoing reviews. Google is focused on what we call current credibility. Basically, this means that while overall review volume and star rating is important. A continuous flow of recent positive reviews is also crucial. Those realtors that have just 10-15 reviews from a few years ago are a tremendous disadvantage to those realtors that might start with 10 reviews but steadily continue to generate reviews on a consistent monthly or quarterly basis.
Because the conversation taking place is happening immediately, Google requires that all real estate team and agent participants on Google Local Service Ads is licensed and insured. Head shots needs to be submitted as well as that is a crucial part of the ad. Typically, professional head shots work best.
Current Google Local Service Ads Minimum Requirements for Realtors
Because the cost per lead is between $30 and $60, we typically recommend a minimum monthly spend on Google Local Service Ads of around $500 to make it worth a real estate team or agents time. When an agent spends less than that it is tough to generate enough meaningful volume.
One of the other questions we get a lot about Local Service Ads from real estate teams and agents is also around volume in order to be able to spend $500 a month. Agents and teams do not want to be in a position where they are only getting 1 or 2 leads a month.
That is where the data we have gathered across the country has really been helpful. In some markets, we encourage agents to get really granular in their geo-targeting. In others, they need to expand to a whole county or two to drive the need volume. Once again, with that data we’ve already generated in running LSA’s for a time, we are helping real estate teams accelerate the learning curve so they do not have to learn the hard way.
Google Local Service Ads Best Practices for Lead Distribution for Real Estate Teams
In regards to real estate teams on Local Service Ads, we recommend the team using a team phone number that then uses routing technology to ring a specific agent next up or simultaneously ring multiple agents.
We suggest using a pooled pond phone number to share out with team (we have call routing technology to help for real estate teams that need it specialized to be effective for Local Service Ads). Local Service Ads from Google are still so new, that Google has not created an API yet to create a webhook to pull those leads into a real estat team or agent’s CRM.
So we use a technology for our real estate teams to first capture the phone number (to make sure the data gets into the team or agent’s CRM) and then secondly to rout out the lead to agents that are available immediately. It is very crucial to make sure agents are available because Google is optimizing around speed-to-lead here. Our technology can the calls so they can be re-listened with right permissions to re-check items discussed in call.
We recommend the technology for teams where when buyer or seller clicks to call via a Local Service Ads it calls as many of the right agents on a team to prioritize speed where possible.
Collecting Real Estate Reviews for Google Local Service Ads
In terms of additional best practices on Google Reviews as it relates to Local Service Ads, we suggest to people to not just focus on leads and clients closing deals. In fact, the real estate brokerage that has 1000 reviews recommends looking at reviews from a different perspective.
When people review a realtor, they are reviewing the person. For instance, he has people that he interacts outside of real estate setting to review him through a URL he created that posts the review to his Google Business Profile page. For instance, if an Uber driver asks him for a review, he sends the Uber driver to give him a Google review as well if they liked his real estate advice.
Example of Importance of Quantity and Quality Ratings on Google Local Service Ads
We can’t stress enough how important it is to expand how you think about getting reviews. The realtors who have changed their mindset are really having a lot of success on Google Local Service Ads. His other success that is helpful is that he’s made that process take about 10 seconds to get a review when he sends them the link.
And from there, he focuses on asking as often as he can whenever he has a meaningful real estate conversation with someone even when it doesn't end up in a closing.
We tell people to ask their friends, old colleagues, and in-laws, whoever. Anyone who can review you and your services (not just clients who have closed) is important.
In addition, Google does vet all these reviews. Beneficially, for realtors there is a dispute process when you believe you have received and illegitimate review. We also have helped realtors resolve issues where they have received poor faulty reviews.
Real Estate Lead Conversations from Google Local Service Ads
In terms of the buyer or seller’s journey when searching on Google, the first do a search on Google for a real estate agent. These Local Service Ads for real estate agent related searches shows above all other maps, traditional Google Ads, and organic search results.
That is key. As soon as that happens, they see the headshots and reviews of Local Service Ads. Based on that, they decide which person they want to call or text. We have found 80% of incoming traffic is immediate phone calls and 20% or immediate text messages. The best performing real estate teams and agents we work with use both.
Even though volume is a bit lower on text message side, we really recommend incorporating ability to receive text messages in your Local Service Ads strategy because the quality of incoming texts from Local Service Ads is really high.
Here are a few high quality examples of recent text messages our real estate clients have recently received from prospective buyers and sellers via Google Local Service Ads:
- “Hi, I need help with relocation in La Canada Flintridge. We are looking to move into the area and we are having trouble getting responses from the la Cresenta area. We need a 3+ bedroom and are hoping for 2 bathrooms. We are looking to move in date around June 15th. Thank you for your time.”
- “Hi! My husband and I are looking to buy a home as soon as possible in CO springs. We are currently pre approved for $350,000, so that is our price point. There are a couple of homes we would love to look at this weekend if possible. Thank you so much. My email is XXXXX@xxxxx.com”
- “Hi, XXXXX/Team, I recently found on goggle and was wondering if you had time to possibly chat. I myself am a first time home buyer and just got pre approved from my bank for a loan. I am looking to purchase a house in the next 6months. I was wondering if you could me with this?Any information is helpful thank you – Molly, 763-XXX-XXXX”
This really speaks to how high the intent is on Google Local Service Ads. A lot of these people have just recently gotten pre-approved and have a defined time period when the need to buy or sell buy. Many realtors who have been in the business for a while have had countless conversations with angry leads who don’t want to be called.
The beauty of Local Service Ads is realtors are connecting with leads at the perfect time when many of them our desperate for an immediate conversation. It is a completely different type of lead. These Local Service Ads leads have a need in their life. They have a since of urgency.
You as the realtor are the expert who can help them in that exact moment we they have a burning need. When you as the realtor are having captive conversations with buyer or seller lead and you are in control they go so much smoother. The leads on Local Service Ads are so grateful for the call, which as a realtors is not always the case when reaching out to all leads. They are grateful to talk to you as a realtor and really appreciate your time. That Is an enormous benefit of these leads as well. It’s all about the value you are bringing at the right moment.
2022 Google Local Service Ads Real Estate Case Study | 20X ROI
Above is an overview of the first two months of a real estate client we are started running Google Local Service Ads from them in Denver, Colorado.
Here is the high-level Denver real estate client case study overview:
- Total Google Local Service Ads Budget Spend: $1,600 ($800/month)
- Total Google Local Service Ads Leads Generated: 29 leads (14+/month)
- Google Local Service Ads Cost Per Lead: $55 cost per lead (it was a nicer area of Denver which explains the higher cost per lead)
- Number of Closings from Google Local Service Ads: 2 Sold (1 per month)
- Return on Ad Spend (ROAS) in first 2 month of Google Service Ads Test: 20x ROAS
Keep in mind this is only after the first two months. There were many others still in advanced pipeline stages. There were over a half dozen more in actively showing listings and appointment set.
This is just one example. Experiences vary across markets, but this really speaks to the value of capturing buyer and seller leads at the bottom of the funnel when they are actively ready to make a buying or selling decision.
-4 Ways for Realtors to Collect More Google Reviews for Google Local Service Ads
-Watch CINC Google Local Service Ads expert go into more detail in recent hour long webinar here
- Complete and Comprehensive High Growth Real Estate Lead Generation Ultimate Guide here
More High Growth Real Estate Lead Generation Success Stories for further reading:
-"How #1 KW Team in FL Built Business on an All-In-One Real Estate Lead Generation Platform"
-"From 0 to 30 Sold Homes in Year 1"
-"How I Grew from 6 Agents to 170 in 4 Years"
-"Seller Secrets of an A&E Reality TV Host Running Maryland's #1 KW Team"
-"Ditching Corporate Rat Race to Start a Successful Real Estate Business"