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Tour To Lease Conversion Calculator
Tour-to-lease is a core leasing productivity metric — benchmark against market and agent.
Tour → lease
0.30%
Tour cost / lease
$175
Tours per lease
3.33
How the math works
Conversion = leases / tours. Cost/lease = tours/lease × hours × rate.
30 / 100 = 30%. 100 / 30 = 3.33 tours × 1.5 × $35 = $175 labor/lease.
How to Use
- Enter monthly tours conducted.
- Enter monthly signed leases.
- Enter agent count.
- Enter hours per tour.
- Enter hourly agent loaded cost.
- Read conversion, tours/lease, cost/lease.
Frequently Asked Questions
Typical tour conversion?
Class A (well-qualified leads, strong product): 30-45%. Class B: 20-35%. Class C: 15-25%. Strong market (low vacancy, multi-offer): 40-60%. Soft market: 10-25%. Self-guided tours: 15-25% (lower because unqualified). Agent-led: 30-45%. Virtual: 10-20% (usually precedes in-person). Track by agent — top agents 2-3× company average.
What drives conversion?
(1) Lead quality (pre-qualified vs cold). (2) Agent skill + follow-up. (3) Property competitive position (amenities, pricing vs market). (4) Market conditions (vacancy rate). (5) Move-in date alignment with applicant timeline. (6) Model unit quality + tour experience. (7) Competitive offerings nearby. (8) Application friction (fee, process speed). (9) Signing incentives (waived fees, reduced deposit).
Cost per lease metric?
Tour → lease at 30%: 3.3 tours per lease. 1-hour tours × 1.2 hrs with follow-up × $35/hr loaded agent = $140/lease direct labor. Plus marketing $300-800/lease = total $440-940 per lease. Efficient operators drive to $350-600 all-in. Inefficient or sub-scale: $900-2,000 per lease (significant margin impact).
Self-guided tour impact?
Lockbox codes + mobile app enable self-guided tours 8am-8pm. Pro: captures tour demand outside leasing office hours (30-50% of tour inquiries). Con: 40-50% lower conversion vs agent-led. Useful for Class A tightly-scheduled lead gen. Enables smaller leasing office staffing (1 FTE per 300-500 units vs 1 per 150-250 legacy). Mandatory at 24-hour leasing operation (Darwin Homes, Keyway, Landing).
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