Conversion is not just a metric. It is a multiplier.
If we converted at 50% instead of 42%, the difference would be $1.97 million in monthly revenue. Forty properties would be in position for a capital event. And our portfolio would sit at 90% occupancy instead of 83.6%.
This isn’t theory. It is the facts. And it is why conversion is one of the most critical numbers in the company.
This month, we launched a new monthly Conversion Report that shows every property’s performance in black and white. It ranks the entire portfolio by conversion rate, breaking properties into three tiers:
- Conversion Royalty 56% and above
- Conversion Professionals 45% to 55%
- Non-Converters Below 45%
There’s no fine print. No spin. If a lead converts, whether it came in yesterday or six months ago, it counts. The result is what matters.
The goal of the report is simple: recognize elite performers and hold the rest accountable. Starting this month, the full report is live on SharePoint and will be updated daily. We’ll also spotlight the top properties in a monthly Conversion Honor Roll.
The cost of underperformance is now measured, and it is massive.
“If we were converting at 50% instead of 42%, we’d have 968 more approved rentals, $1.97 million more in monthly revenue. $450 million more in asset value,” said senior partner Brad Dykes. “That’s how much conversion really matters.”
The consequences cascade:
- Properties that should be selling or refinancing get stuck.
- Leasing teams fall behind.
- Rent rolls shrink.
- Capital events stall.
This is a mindset issue for all associates.
“Why do we have a rent roll problem?” Brad asked. “Mindset. We’re thinking ‘drop rates’ when we should be thinking ‘drive more traffic.’ This is a call to action for every associate.”
Starting this month, SMTs, managers and sales teams can access the full Conversion Report on SharePoint.
We’ll also post monthly updates and Honor Roll recognition on Loop.
Here’s the standard. Where does your property land?