How Many Leads to Get a Deal in Real Estate?

One of the most common questions real estate investors ask is: “How many leads do I actually need to close a deal?”It’s a smart question—because knowing your lead-to-deal ratio not only sets realistic expectations, but also helps you scale your business with confidence.

The truth? There’s no single number that applies to everyone. But there are averages, proven benchmarks, and strategies to improve your conversion rate so you can do more deals with fewer leads.

The Typical Lead-to-Deal Ratio

Industry benchmarks and investor surveys suggest that it takes anywhere from 20 to 50 motivated seller leads to close one deal.

• Wholesaling averages: Experienced wholesalers often report needing 20–30 qualified leads per deal. Programs like Wholesaling Inc. and investor mastermind groups commonly cite this range.

• Investor Carrot data: Based on thousands of real estate investor websites, Investor Carrot reports that online leads (especially PPC) convert faster, typically around 1 in 15–25 leads, while broader marketing (cold calling, Facebook Ads, direct mail) may take 30–50 leads.

• Marketing agency experience: Agencies that run PPC and SEO campaigns for investors consistently see that Google Ads leads close in the 20–30 range, while Facebook Ads and cold outreach can push toward the higher end of the spectrum, 40–60 leads per deal.

*At Lead Farmers PPC, we expect to get our clients to a 1 to 10 lead to deal ratio with Google Ads.

Why the Range Exists

The reason you see a range instead of a hard number is simple: no two investors or markets are alike.

• Market conditions – A hot metro market will usually require more leads per deal compared to mid-sized cities or rural markets.

• Lead source – PPC leads (“sell my house fast [city]”) are high intent, while Facebook leads often need more nurturing.

• Sales process – Investors who follow up consistently convert more leads into deals. Many experts say it can take 6–12 touches before a seller is ready.

• Exit strategy – Wholesalers usually need more leads per deal than buy-and-hold investors, since their criteria are narrower.

  
  

Why Quality Beats Quantity

If you’ve ever chased 100+ leads without landing a deal, you already know the truth: not all leads are created equal.

• Google Ads leads are high intent—they’re actively searching for a solution.

• SEO leads often convert at a higher rate, because people who find you organically already trust your authority.

• Facebook Ads leads can be cheaper upfront, but they often require more follow-up before they convert.

  
  

The more your funnel filters out tire-kickers and surfaces true motivated sellers, the fewer leads you’ll need to close each deal.

How to Improve Your Lead-to-Deal Conversion

If you want to close more deals with fewer leads, focus on these areas:

1. Target the right audience – Use hyper-targeted keywords in Google Ads (e.g., “sell inherited house in [city]”) instead of broad terms like “sell my house fast”.

2. Follow up relentlessly – Most deals don’t close on the first call. Top investors build systems that stay in touch until the seller is ready.

3. Build trust fast – Reviews, testimonials, and a professional online presence separate you from “just another investor.”

4. Optimize your funnel – Every step, from ad click to phone call, should qualify and motivate the seller to work with you.

5. Track your metrics – Monitor conversion at each stage (lead → appointment → offer → deal) to see where you’re losing momentum.

   
   

Setting Realistic Expectations

Here’s a simple way to forecast your deals:

• If it takes 30 leads per deal, and you want 3 deals per month, you’ll need about 90 leads per month.

• If your average deal brings in $20,000 profit, that’s $60,000 a month in revenue.

• From there, you can work backwards to decide how much to spend on marketing (PPC, SEO, Facebook Ads, etc.).

  
  

Final Thoughts

The question “How many leads to get a deal in real estate?” doesn’t have a one-size-fits-all answer. But industry averages—20 to 50 leads per deal—give you a realistic baseline. The real key is improving your conversion so you can close more deals with fewer leads.

At Lead Farmers PPC, we specialize in bringing real estate investors motivated seller leads through Google Ads, SEO, and Facebook Ads. With the right marketing funnel, you can cut down the number of leads you need per deal—and close more deals, faster.

👉 Want to see how many leads you need to hit your deal goals? Let’s talk about building a marketing funnel tailored to your market.