Real Estate KPIs List

Real estate KPIs are metrics that track and measure the real estate manager, agent, and team’s ability to ensure that the real estate agency (or company) is professionally, efficiently, and effectively run and objectives are continually met over time.

Real Estate KPIs Reporting Dashboard

Real Estate Team Objectives

The real estate team objectives are designed to measure the extent to which the real estate team can meet and exceed its operational efficiencies, including elements such as improving the payback period, reducing tenant turnover, and increasing the ROI on properties. The higher these metrics, the greater the team’s abilities.

  • Improve (reduce) the payback period – The payback period is the length of time or number of years it takes to recoup the initial cash or investment invested in a particular property. This KPI tracks and measures the real estate team’s ability to reduce the payback period for each property invested in.
  • Improve (reduce) tenant turnover – The tenant turnover is the number of tenants that rent a particular property during a predefined period. This KPI tracks and measures the extent to which the real estate team is able to improve or reduce the tenant turnover metric for this period.

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  • Improve Return on Investment (ROI) – The Return on Investment (ROI) is a financial metric used to measure the profitability of generating a return from an investment such as a property. This KPI tracks and measures the real estate team’s ability to increase the ROI per property over time.
  • Improve the Equity to Value ratio – This KPI tracks and measures the Equity to Value ratio that the real estate team can maintain and increase this ratio over time. The higher this metric, the greater the extent to which the real estate team is able to maintain and improve this ratio over time.
  • Improve the Year-over-Year (YoY) variance of average sold price – The Year-over-Year (YoY) variance of average sold price measures the average price of all properties sold measured year-on-year. This KPI tracks and measures the real estate team’s ability to improve on this variance. The higher this metric, the greater the team’s ability to improve on this YoY variance.
  • Interface with other services – The real estate team has to interface with other services like garden services and mortgage companies. This KPI tracks and measures the real estate team’s ability to interact with other services and companies. The higher this metric, the greater the real estate team’s operational efficiencies.

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Real Estate Manager Objectives

The real estate manager’s objectives are designed to track and measure the extent to which the real estate manager can meet these predefined operational efficiencies, like consolidating and aggregating data, implementing prebuilt KPI templates, and reducing the Operating Expense Ratio (OER). The higher these metrics, the greater the manager’s success.

  • Improve the average rent price per property – The average rent price per property measures the average price per rental for a predefined period, such as twelve months. This KPI tracks and measures the real estate manager’s ability to improve the average rent price per property for the predefined time.
  • Improve Operating Expense Ratio (OER) – The Operating Expense Ratio (OER) is a measurement of the cost to operate a property in relation to the income generated by the property. This KPI tracks and measures the real estate manager’s ability to reduce or improve the Operating Expense Ratio (OER) over time.

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  • Improve (reduce) the Loan to Value (LTV) ratio – The Loan to Value (LTV) ratio is an assessment of risk. Higher LTV ratios are higher risk loans and vice versa. This KPI tracks and measures the real estate manager’s ability to reduce the LTV over time. The higher this metric, the greater the manager’s operational successes.
  • Improve (reduce) the average mortgage rate – The average mortgage rate is calculated by adding the mortgage rates up for a period such as twelve months and dividing it by the number of months. This KPI tracks and measures the real estate manager’s ability to ensure that the average mortgage remains as low as possible over time.
  • Improve the number of properties advertized per real estate agent – This KPI tracks and measure’s the real estate manager’s ability to improve the number of properties advertised per real estate agent. The higher this metric, the greater the extent to which the real estate manager can increase the number of properties listed per real estate agent.
  • Improve the revenue growth – The revenue growth is the increase (or decrease) in the real estate company’s sales between two predefined periods. This KPI measures the real estate manager’s ability to improve the revenue growth numbers over time. The higher this metric, the greater the manager’s ability to grow the sales numbers over time.

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Real Estate Agent Objectives

The real estate agent objectives or KPIs are designed to track and measure the real estate agent’s operational efficiencies, including improving the sale-to-list ratio, improving the average commission per sale, and reducing the time a property is listed before being sold. The higher these metrics, the greater the agent’s success.

  • Improve the Sale to List ratio – The Sale to List ratio is the final sale price divided by the last list price expressed as a percentage: over 100% is greater than the list price and vice versa. This KPI tracks and measures the real estate agent’s ability to improve the Sale to List ratio.
  • Improve the average commission per sale – The average commission per sale is the total commission divided by the number of sales over time. This KPI measures the real estate agent’s ability to improve the average commission per sale metric. The higher this KPI value, the greater the agent’s ability to improve the average commission per sale.

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  • Improve the sold homes per available inventory – The sold homes per available inventory ratio is calculated by dividing the total number of homes sold versus the total available inventory over time. This KPI tracks and measures the real estate agent’s ability to increase the number of homes sold per available inventory over time.
  • Improve (reduce) the number of days on market – The less time a property is listed, the greater the turnover and profit for the real estate company. This KPI tracks and measures the extent to which the real estate agent is able to reduce the number of days a property stays on the market.
  • Improve the number of calls made – The number of work-related calls made over time measures the real estate agent’s ability to use the phone to sell properties. This KPI tracks and measures the extent to which the real estate agent is able to improve the number of work-related call figures over time.
  • Improve the client feedback ratings – The client feedback ratings are a measure of the real estate agent’s ability to interact positively with the clients. This KPI tracks and measures the extent to which the real estate agent is able to communicate positively and professionally with clients.

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These real estate KPIs are an integral part of ensuring that the real estate agent, team, and manager meet their critical organizational abilities. The successful implementation of an effective real estate management strategy plays an indispensable role in ensuring that the real estate meets its operational and organizational goals. As a result, measuring these objectives is key to agency success. These KPIs focus on tracking metrics grouped in three result areas: agency, team, and manager.

It is essential to track and measure these KPIs over time because they offer insight into the real estate agency’s successes and where improvements are needed. Metrics like improving the payback period, data reporting requirements, the Return on Investments, and increasing revenue growth are fundamental to ensuring the company’s operational success.

Implementing real estate KPIs or objectives for the real estate team, agent, and manager drives the requirement to guarantee consistency over time. High-performing metrics are valued, translating into an effective real estate agency management strategy and application thereof by the real estate team, manager, and agent. Conversely, low-performing metrics must be revisited as they indicate poor performance and detract from operational and organizational success metrics.

Benefits of AssessTEAM cloud-based employee evaluation form for your real estate team.

  • Use on all smart devices
  • Include custom KPIs
  • Keep historic trends
  • Include eSignatures
  • 360-degree feedback
  • Unlimited customization

A guided rollout is included with all our plans. Simply send us your job descriptions and we will set up your evaluations.
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