If you’ve been reading my articles for a while, you already know how strongly I feel about tracking core business metrics like cost per lead (CPL), cost per acquisition (closing CPA) and lifetime client value (LCV). Those should be monitored year-round.

However, the five additional metrics we’ll talk about here can offer a different lens. They’re often overlooked, yet they give your lead generation strategy a powerful boost when planning for 2026.

And it all starts with one question: Where did your closed deals actually come from this year?

This isn’t just a data drill. Every December, we sit down and trace back every closing from the year, identifying the true source, not just what was entered into the CRM. We’re looking at where leads originated, how long they took to close and how much effort they required.

Most of the time, the answers surprise us.

We find gaps between where we think our business came from and where it actually did. We uncover time-wasting habits we didn’t notice before. And we discover lead sources that flew under the radar but quietly drove profits.

5 lead-generation metrics to review before 2026

Here are five metrics I recommend reviewing before you finalize your 2026 lead gen plan.

1. What was your listing vs. buyer breakdown?

Start by measuring how many of your closed transactions were listings versus buyers. This helps you understand your current mix and where you might want to shift focus.

While listings are often glorified as the ideal side of the business (and yes, they give you leverage), I think the phrase “list to last” has been pushed a little too hard in the industry. I’ve consulted with agents who ignored warm buyer leads because they were hyper-focused on getting listings and left a ton of revenue on the table because they failed to see it.

If buyers are paying your bills right now, don’t ignore them. This metric helps you align your strategy with reality instead of just following industry mantras.

2. Where did your referrals come from?

Referrals are some of the highest-converting leads you’ll ever get, but they require intentional cultivation. 

This metric helps you pinpoint exactly who is referring you and where to invest more time.

Here’s the key distinction: not all referrals are created equal.

You should separate agent-to-agent referrals from client or sphere-based referrals. Both are important, but they behave differently. An agent-to-agent referral is often more predictable and easier to track, especially if you’re building a national referral network. But referrals from your past clients, sphere or local community are closer to the ground. They reflect how much influence you’ve built in your market.

If your numbers in this category are low, take an honest look at how much time you’ve spent networking and whether that time has been spent inside or outside your market. Referrals from local agents rarely happen. Most of your referral pipeline should be coming from outside your MLS.

3. How many leads did you actually generate?

It’s easy to get lost in systems, CRM automations and fancy funnels. But none of that matters if you’re not generating enough leads in the first place.

Look at your total lead count for the year. Then break it down by source and by month. If you fell short of your income goals, this number might explain why. You may have great systems in place, but if your pipeline isn’t full enough, the math won’t work.

This metric tells you whether you need more volume before worrying about better conversion.

4. What was your conversion rate by source?

This is where the quality of your lead gen system starts to show. You may find that some sources bring in a high volume of leads, but very few conversions. Others may produce fewer leads but close at a much higher rate.

Tracking conversion rates by lead source allows you to identify what’s actually working and what’s just noise. If your Facebook leads are ghosting after the first text, but your YouTube leads are signing contracts, you know where to focus your efforts next year.

This also helps you refine your nurture system. Conversion isn’t just about the first conversation; it’s about how well you educate and guide leads from cold to closed.

5. What source closed the most deals?

This is your reality check. The true scoreboard. Every lead gen platform promises results. But when you strip away the hype, only one question matters: what actually got people to the closing table?

This metric helps you cut through assumptions and emotional attachment to certain strategies. Just because something is trendy or time-consuming doesn’t mean it’s profitable.

Find out what quietly worked this year and double down on it.

Tying it all together before 2026

The real question every agent should be asking isn’t “what’s the newest tactic?” It’s: Am I generating leads in the most efficient way possible, one that supports the kind of business I want to build?

Framing the question this way is powerful because it makes your goals the filter. A solo agent may not need the same volume or systems as a 20-agent team, but both need clarity on what’s working and what’s not.

These five metrics, combined with your CPA, CPL and LCV tracking, give you a custom dashboard to plan smarter, grow faster and stop guessing. Pull the numbers. Review the patterns. Then head into 2026 with a plan based on data, not hope.