What is a Real Estate KPI?
A real estate Key Performance Indicator (KPI) or metric is a quantifiable measure used to assess the performance of a business in the real estate industry. These performance metrics can be used to analyze several different business segments from individual realtor performance to investment property potential. In turn, this information can be used to identify weaknesses in your business or help make better business decisions.
Who Should Be Using Real Estate KPIs?
With real estate being one of the largest industries in the world, it should come as no surprise that most market participants use real estate KPIs. Contrary to popular belief, these metrics aren’t just used to track the property sales data that you see in the news. They also track data that pertains to the leasing, management, and development of properties. As such, there are many market participants who have different goals and approach the real estate industry from varying perspectives. In this post, we will be looking at three different real estate industry participants, how real estate KPIs can help them, and the benefits of using a real estate KPI dashboard. These parties are commercial real estate firms, property management firms, REITs (Real Estate Investment Trusts), real estate investors (personal and corporations), real estate agents/brokers, and developers.
