36.17 Real Estate
Site interviews ask how many visits became a booking, how fast a listed unit sold (absorption), and days on market. Brochure downloads and raw site visits are the vanity pair. Sites below are fictional plots for class, not a developer's inventory.
| KPI | What the number means | Who uses it | Action it drives |
|---|---|---|---|
| Visit-to-booking % | Bookings divided by site visits. | Site head | A low rate with many visits is follow-up or price, not "bring more people". |
| Absorption | Units sold divided by units listed. | Sales head | A site that lists 12 and sells 2 is stuck stock. |
| Days on market | Sum of days from list to sale, divided by units sold. | Sales head | A long average is a price or a channel problem. Unsold units are not in this average. Say that. |
Fictional sample rows. One quarter.
| Site | City | Visits | Bookings | Listed | Sold | Sum of days on market |
|---|---|---|---|---|---|---|
| Pune West | Pune | 40 | 8 | 10 | 4 | 120 |
| Pune East | Pune | 80 | 4 | 12 | 2 | 200 |
| Nashik Road | Nashik | 30 | 6 | 8 | 4 | 80 |
| Gangapur | Nashik | 20 | 5 | 6 | 3 | 60 |
| Kolhapur | Kolhapur | 50 | 2 | 10 | 1 | 90 |
| Nagpur | Nagpur | 24 | 6 | 8 | 4 | 100 |
Worked from those rows.
- Visits 244. Bookings 31. Listed 54. Sold 18. Sum of days 650.
- Visit-to-booking is 31 ÷ 244 = 12.7%.
- Absorption is 18 ÷ 54 = 33.3%.
- Days on market is 650 ÷ 18 = 36.1 days. This average is only the units that sold.
Pune East: visit-to-booking 4 ÷ 80 = 5.0%, absorption 2 ÷ 12 = 16.7%, days on market 200 ÷ 2 = 100 days. Nashik Road: 6 ÷ 30 = 20.0%, absorption 4 ÷ 8 = 50.0%, days 80 ÷ 4 = 20 days.
| Good KPI | Vanity metric | |
|---|---|---|
| From the same rows | Pune East booking 5.0% and 100 days on market | Pune East 80 visits |
| Why | The busiest gate sold 2 of 12 units. | A weekend footfall photo looks like demand. Nashik Road had 30 visits and sold 4 of 8. |
What the manager does. The Pune site head stops the visit drive at Pune East and reviews price and the 76 visits that did not book. The Nashik site head keeps the Nashik Road follow-up (half the listed units sold, 20 days). Gangapur is the same shape at a smaller scale: 5 ÷ 20 = 25.0% visit-to-booking, 3 ÷ 6 = 50.0% absorption. Kolhapur sold 1 of 10. Do not average Kolhapur into "Maharashtra is fine" because Nagpur sold 4 of 8.
Ravindra Bagale's Tip
Many students include unsold units in days on market, as zero or blank, and the average goes wrong. Only sold units are the denominator. Call unsold units "still open" separately. Pay attention!
Ravindra Bagale's Tip – मराठी
बरेच students days on market मध्ये न विकलेले units पण zero किंवा blank म्हणून घालतात, आणि average बिघडतो. फक्त विकलेले units हा denominator. Unsold ला वेगळं "still open" म्हणा. लक्षात ठेवा!
Ravindra Bagale's Tip – हिंदी
बहुत से students days on market में न बिके units को भी zero या blank के रूप में डाल देते हैं, और average बिगड़ जाता है. सिर्फ़ बिके units ही denominator हैं. Unsold को अलग से "still open" कहो. ध्यान रखो!