How do you calculate a leasing agents close ratio? Is it based on applications or approved leases? For example, if I tour 10 people and get 5 to an application, that's a 50% close ratio. Or if you take the same scenario and 4 sign leases and get approved that would be a 40% close ratio. What is the best practice?
Applications count towards your ability to get an application only. You get paid for the lease and that is your closing ratio.
I've always considered a minimum of one of every 10 tours should end in a signed leased.
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