The KPIs Every Wholesaler and Agent Should Know by Heart

If you’re not tracking your lead-to-contract ratio, you’re flying blind.

You might be spending money on leads that don’t convert. Or worse, blaming your leads when the problem is actually your follow-up, offer, or positioning.

Top-performing real estate pros don’t just track volume. They track efficiency, and lead-to-contract is the clearest metric of whether your business is working.

In this article, we’ll cover:

• What lead-to-contract ratio is and why it matters

• How to calculate it (step by step)

• What a “good” ratio looks like for wholesalers, flippers, and agents

• Why your number might be lower than it should be

• How to improve it using data, systems, and better seller conversations

What Is Lead-to-Contract Ratio?

Your lead-to-contract ratio measures how many leads it takes to close one deal.

It answers the question: Out of 100 leads, how many turn into signed contracts?

Formula:
Leads ÷ Contracts = Lead-to-Contract Ratio

So if you get 150 leads and sign 5 contracts, your ratio is:

150 ÷ 5 = 30:1

That means you close 1 contract for every 30 leads.

This number tells you if your business is healthy, or leaking profit.

What’s a “Good” Lead-to-Contract Ratio?

It depends on your model, market, and how you're sourcing leads.

Wholesalers (off-market, cold outreach):

20:1 to 50:1 is common

Top performers: 10:1 to 15:1

Fix & Flippers (inbound + targeted outbound):

10:1 to 25:1

Real Estate Agents (listing appointments):

5:1 to 15:1 for warm referrals

20:1 to 40:1 for cold or online leads

If you're outside those ranges, something needs to be tightened up.

Why Your Ratio Might Be Too High

If it takes 50+ leads to get a single contract, you're either:

• Talking to the wrong people

• Saying the wrong things

• Following up in the wrong way

Let’s break it down.

Reason #1: Poor Lead Quality

You’re buying data or running ads, but most leads aren’t actually motivated.

Fix it:

• Use tools like Goliath to filter for multiple distress signals (liens + vacancy, etc.)

• Score leads based on behavior: opens, replies, call tone

• Focus more on seller motivation than property condition

Reason #2: Bad First Conversations

You’re getting them on the phone, but you’re losing trust fast.

Fix it:

• Use a consultative tone, not a sales pitch

• Listen more than you talk

• Avoid leading with the offer, first, uncover the pain point
  
  
  
  
  
  
  

Reason #3: Weak Follow-Up Process

You make one call or send one offer… then move on. But the real conversion happens in follow-up.

Fix it:

• Set up a 30-day multi-touch sequence (text, email, voicemail)

• Tag and segment leads by situation

• Use AIan -powered follow-up that feels human and well-timed

How to Start Tracking Your Ratio (Step by Step)

Even if you’re not running a CRM yet, you can still start tracking manually.

Step 1: Define a “lead”

• Someone who responds to your outreach

• Or fills out a form

• Or answers a cold call and shows some level of motivation

Don’t count: Wrong numbers, spam, or tire-kickers

Step 2: Define a “contract”

Only count signed agreements. Verbal maybes don’t count.

Step 3: Track monthly

Use a simple spreadsheet or Goliath’s dashboard to track:

• Leads contacted

• Conversations had

• Offers made

• Contracts signed

Over time, your lead-to-contract trendline will show where you’re improving, or not.

How to Improve Your Ratio (Without Just “Getting Better Leads”)

Here’s a framework to increase your closing efficiency without just buying more data:

1. Qualify faster

Ask better questions earlier in the conversation to avoid wasting time.

2. Tailor the pitch to motivation

Offer creative finance, agent referral, or rent-back based on the seller’s actual pain point.

3. Follow up like your deal depends on it

Because it does.
90% of contracts come after the first contact.

Set smart, automated sequences with Goliath based on:

• Seller behavior

• Lead score

• Timing tags (e.g. “follow up after probate”)

4. Record and review your calls

Use call tracking to:

• Spot tone shifts in sellers

• Catch holes in your own pitch

• Coach your team to improve conversion

If You Can’t Measure It, You Can’t Improve It

You don’t need to be a spreadsheet nerd.

You just need to know:

• How many leads am I getting?

• How many are turning into contracts?

• Where’s the leak in between?

Once you see it, you can fix it. And when you fix it? You can scale it, with less waste, more profit, and more predictable growth.