The Next-Gen Brand Lab
Channel partners & brokers
What a qualified real estate lead costs a broker in India, and how to work out yours
Last updated 2026-09-26 · 7 min read
Cost per lead is the number every vendor quotes and the one that matters least. A broker is paid on bookings, so the useful numbers are cost per qualified lead and cost per booking, measured against the commission the booking earns.
The short answer
Cost per qualified lead = cost per lead ÷ qualification rate. Cost per booking = cost per qualified lead × qualified leads needed per booking. A campaign is worth running when its cost per booking, plus any agency fee, sits comfortably below the commission a booking earns. Use your own CRM rates; published benchmarks rarely define a lead the same way you do.
The chain from lead to booking
| Step | Formula | Example (illustrative inputs) |
|---|---|---|
| Cost per lead | Media spend ÷ leads | ₹60,000 ÷ 100 = ₹600 |
| Qualification rate | Qualified leads ÷ leads reviewed | 30 ÷ 100 = 30% |
| Cost per qualified lead | Cost per lead ÷ qualification rate | ₹600 ÷ 0.30 = ₹2,000 |
| Qualified leads per booking | From your CRM history | 15 |
| Media cost per booking | Cost per qualified lead × qualified leads per booking | ₹2,000 × 15 = ₹30,000 |
The inputs in the example are illustrative, not benchmarks. Replace each with your own numbers.
Compare it with your commission
Work out what one booking earns you after your team's costs, then set a ceiling on marketing cost per booking below that. Divide the ceiling by the qualified leads you need per booking to get the most you can pay for a qualified lead. For example, with a ₹1 crore unit and a hypothetical 2% commission, the booking earns ₹2 lakh; if you allow a quarter of that for marketing, the ceiling is ₹50,000 per booking. At 15 qualified leads per booking, you can afford about ₹3,300 per qualified lead. Use your actual commission terms.
Define "qualified" before you count
A qualified lead should meet all of: contactable within a set number of attempts, budget inside the project's price band, purchase timeline within six months, buying in or relocating to the project's area, and not already in your CRM. Our qualified-lead definition is written out in full.
What lowers cost per booking
- A form that filters on budget and timeline, even if cost per lead rises.
- Speed: calling within minutes lifts the qualification rate without spending more (Harvard Business Review — The Short Life of Online Sales Leads, March 2011).
- Price on the ad, so buyers outside the budget do not enquire.
- Killing sources by booking, not by lead: move budget to what your CRM shows actually books.
Our own numbers
Our own recent figures, published on our homepage: cost per form lead of ₹395–₹876 across four Bengaluru and Mysore campaigns between 24 August and 22 September 2026. These are form leads, not qualified leads or sales, and each covers one campaign only. Historical, owner-reported: ₹266 cost per lead with 51% qualified on one earlier North Bengaluru cohort, which is why we price our own work per qualified lead. Neither figure is a promise for a new campaign.
Questions channel partners ask
What is a good cost per lead for real estate in India?
It varies with city, ticket size, project and how a lead is defined, so a single number is misleading. Our own cost per form lead across four Bengaluru and Mysore campaigns ranged from ₹395 to ₹876 between 24 August and 22 September 2026. Judge any figure on cost per qualified lead and cost per booking.
How do I calculate cost per qualified lead?
Divide media spend by the number of leads that meet your written qualification definition. Equivalently, divide cost per lead by the qualification rate. At ₹600 per lead and 30% qualified, each qualified lead costs ₹2,000.
How much can a broker afford to spend per booking?
Less than the commission the booking earns, after your team's costs. Divide your target marketing cost per booking by the number of qualified leads you need per booking to get the most you can pay per qualified lead.
Why is cost per lead a misleading number?
Because the cheapest leads are often the least qualified. A campaign at ₹300 per lead with 10% qualified costs ₹3,000 per qualified lead; one at ₹800 with 50% qualified costs ₹1,600. The second is cheaper where it matters.
Want your cost per booking modelled before you spend?
A Phase 0 call is a questionnaire, not a pitch. You get the market read before anyone spends a rupee on advertising.
Book a Phase 0 call ↗