Location: The geographical area in which you operate can significantly impact the cost of GLSAs. More competitive or densely populated areas tend to have higher costs per click (CPC) or per lead.

Competition: The number of other businesses offering similar services in your area can drive up costs. In highly competitive markets, you may need to bid more to secure a prominent position in the GLSA listings.

Service Category: The type of service you offer also affects the cost. Some service categories are more competitive than others, leading to higher advertising costs. For example, real estate services in a metropolitan area might be more competitive than in a rural area.

Budgeting tips for realtors using GLSAs

Set a Realistic Budget: Determine how much you can afford to spend on GLSAs. Your budget should align with your business goals and the expected ROI from these ads.

Monitor and Adjust: Regularly review your GLSA performance metrics and adjust your budget accordingly. If you’re getting a positive ROI, consider increasing your budget.

Use Targeting Options: Utilize Google’s targeting options to narrow down your audience. Focus on specific geographic areas and demographics to make your budget more effective.

Quality Over Quantity: Instead of trying to get as many leads as possible, focus on quality leads that are more likely to convert. This may involve refining your targeting.

Ad Optimization: Continuously optimize your ad copy, keywords, and landing pages to improve your ad’s quality score, which can reduce costs.

Ad Schedule: Consider scheduling your ads to run during peak times when potential customers are most likely to search for real estate services.

ROI considerations for GLSAs

Lead Quality: Measure the quality of leads generated through GLSAs. Are they turning into actual clients or just inquiries? High-quality leads that convert into customers provide a better ROI.

Conversion Rate: Calculate the conversion rate from GLSAs. This is the percentage of leads that turn into paying clients. A higher conversion rate typically leads to a better ROI.

Lifetime Value: Consider the long-term value of a customer. If a client brings repeat business or refers others, the initial acquisition cost through GLSAs may be justified.

Cost Per Acquisition (CPA): Calculate your CPA by dividing the total spend on GLSAs by the number of customers acquired. A lower CPA indicates a better ROI.

Customer Retention: Measure how many GLSA-acquired customers become repeat clients. Repeat business can significantly boost ROI.

Real-world examples of GLSAs costs

The cost of GLSAs can vary widely depending on location, competition, and service category. 

Location: In a highly competitive market like New York City, a realtor might pay $50 or more per click for GLSAs. In contrast, in a smaller town with less competition, the cost could be as low as $10 per click.

Competition: If there are many real estate agents in a specific area all bidding for GLSAs, the cost per click or per lead could be driven up. For instance, in a competitive suburban market, the CPC might be around $30.

Service Category: The specific real estate service offered can also impact costs. For example, a luxury real estate agency targeting high-end clients might pay more per lead compared to an agency focused on budget-friendly properties.

Selecting Services to Advertise

• Specify the real estate services you offer, such as “Home Buying,” “Home Selling,” “Property Management,” etc. Be as specific as possible.
• Set your service area by defining the locations where you provide services. This can be specific cities or regions.

Setting a Budget:

• Decide on your daily or weekly budget for GLSAs. Google will charge you based on the number of leads you receive.
• You can adjust your budget at any time, but start with an amount you’re comfortable with.

Creating an Attractive Ad:

• Craft a compelling ad that highlights your services and unique selling points.
• Use high-quality images of properties or yourself to build trust.
• Include relevant keywords in your ad copy. Mention your specialties, years of experience, and any certifications.

Verification and Approval Process:

• Google will verify your business by requesting documentation like licenses and insurance.
• Once approved, your GLSAs will start showing to potential clients in your service area.

Tips for Optimizing GLSAs for Real Estate Professionals

Monitor and Adjust Budget: Regularly review your ad spend and adjust your budget based on performance. Allocate more budget to areas or services that generate the most leads.

Leverage Reviews: Encourage satisfied clients to leave reviews on your Google My Business profile. Positive reviews can improve your ad’s visibility and credibility.

Quick Response Time: Respond promptly to inquiries and leads generated through GLSAs. A fast response time can improve your chances of winning the lead.

Use Conversion Tracking: Set up conversion tracking to measure the effectiveness of your ads. Track metrics like the number of calls and messages received through GLSAs.

Optimize Ad Schedule: Analyze when your ads perform best and adjust your ad schedule accordingly. For real estate, evenings and weekends might be peak times.

Using Secondary Keywords Effectively in GLSAs

Secondary keywords can help you target a broader audience and capture leads with specific needs. 

Keyword Research: Identify secondary keywords related to real estate, such as “luxury homes,” “investment properties,” or “foreclosures.”

Ad Group Organization: Create separate ad groups for your primary and secondary keywords. This allows you to tailor ad copy and budgets for each group.

Ad Customization: Craft ad copy that incorporates secondary keywords naturally. For example, “Expert Realtor for Luxury Homes” or “Specializing in Investment Properties.”

Use Negative Keywords: Add negative keywords to exclude irrelevant searches. For instance, if you don’t handle rentals, you can add “rental” as a negative keyword.

Monitor Performance: Regularly review the performance of your secondary keyword ad groups. Adjust bids, ad copy, or keywords based on what generates the best results.