What's a typical cost-per-lead across the different channels — PPC, Social, Live Transfer?
Cost-per-lead is a starting point — not the whole story.
Ge shares context on cost-per-lead ranges but pushes back on using it as the primary metric. Social leads typically come in at the lowest cost per lead because the audience is broad and the intent is lower. PPC is higher per lead but represents active searchers. Live Transfer is the most expensive per lead — but it's comparing apples to oranges, because you're paying for a vetted, connected conversation, not just contact information.
Ge makes the point that cost-per-lead only makes sense alongside conversion rate and close rate. A $5 lead that never closes is more expensive than a $200 lead that closes in 60 days.
Social has lowest cost-per-lead
Facebook and Instagram leads carry the lowest cost per lead — but also require the most follow-up patience before they convert.
PPC costs more, converts faster
Google leads are pricier per lead but close faster. The higher upfront cost is often offset by a shorter sales cycle.
Live Transfer is cost-per-conversation
Live Transfer pricing reflects a fundamentally different product — you're paying for a pre-qualified person on the phone, not just a contact record.
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"Cost-per-lead is a useful metric, but it's one of the most misused numbers in real estate marketing. I want to give you context on what the numbers look like — and then explain why comparing them directly across channels is the wrong frame."
"Social leads — Facebook and Instagram — carry the lowest cost per lead. The audiences are broad, the intent is lower, and the ad cost structure allows us to generate high volume at lower cost per contact. But here's the catch: a Social lead at a low cost-per-lead who never calls you back and takes 18 months to close isn't actually cheap. The holding cost is just paid in time and follow-up effort rather than upfront dollars."
"PPC leads cost more per lead, because Google keyword costs in real estate are among the highest of any industry. People typing 'homes for sale in [city]' are valuable to a lot of advertisers, so the cost per click is higher. That means the cost per lead is higher. But these are people who were actively searching, which means they convert faster and your close rate is typically better. The higher per-lead cost is often offset by a shorter time-to-close and a higher conversion percentage."
"Live Transfer is a different product entirely, so comparing its cost-per-lead to Social or PPC is an apples-to-oranges comparison. With Live Transfer, our call center has already called the person, run them through a qualifying conversation, and confirmed they're a real buyer or seller with genuine intent. What you're paying for is a pre-qualified conversation that's already in progress — you pick up the phone and they're already on the line. That's not the same thing as a contact record in your CRM."
"The framework I use is this: cost-per-lead is meaningless without cost-per-closing. A $5 Social lead that never closes costs you more than a $200 PPC lead that closes in 45 days. A Live Transfer lead that closes in three weeks because you showed up to a live call has a very different cost-per-closing than any Social lead you could generate. Evaluate the full economics — cost, timeline, close rate — not just the CPL in isolation."
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