How Online Reviews Affect a Realtor's Business
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A majority of people find a real estate agent through the Internet. The latest BrightLocal survey shows that the number of people who searched for real estate agents online has increased.
In such a scenario, it is better for realtors to rely more on optimizing their business online rather than only on traditional marketing methods such as direct mailing, flyers or billboards. One of the most effective ways to maintain a positive online presence and build a relationship with potential clients is through online reviews.
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Build Trust with Consumers When satisfied customers post positive reviews and comments about the services provided by a real estate agency, this can have a great impact on potential buyers or sellers. If these reviews make them feel that the realtor’s service can be trusted, this real estate business will benefit immensely. This is because consumers always trust the opinions of other consumers. The recent BrightLocal survey reveals that over 79% local consumers trusted online reviews as much as personal recommendations in 2013, compared to 72% in 2012.
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More Online Exposure Google now considers the interaction between the user and the relevant business in search. Google Places was replaced with Google+ to provide local businesses with the facility to improve PageRank through online reviews. If your real estate business receives online reviews on Google+, this would definitely enhance your Google search results. If there are no online reviews, it would appear that your services are not worth reviewing or that you are hiding bad service. So it pays to encourage satisfied customers to post their opinions about your business online.
Demonstrate Local Expertise Local expertise is a crucial factor for a realtor to work with home buyers and sellers. A realtor with better local expertise will have a thorough knowledge about home values, current housing inventory and neighborhood trends. Without such knowledge, realtors cannot help buyers to find the right home at the right place or sellers to get a good market value for their home. Most real estate market experts recommend selecting a real estate agency with significant local expertise. With online reviews, realtors can convince the home buyers and sellers they are dealing with someone who has authentic local expertise. Online reviews thus provide a fast and easy way to enhance the credibility of a realtor’s business.
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Online Review Management Realtors can benefit from online reviews only if they manage them properly. How could a realtor can accomplish that?
Get Rid of Review Spam People look for authentic reviews and are now more aware of review spam (fake reviews). So realtors should make sure that their sites and applications are free from review spam. Constant monitoring is necessary to ensure this.
Carefully Handle Negative Reviews Negative reviews need to be handled properly, or else they can tarnish your business reputation and drastically affect your real estate business. You should respond to the negative reviews with factual information or assurances that stringent efforts will be made to rectify the issues reported.
A study conducted by Cloud-based Social
Commerce and Review Solutions Company Reevoo.com revealed that when a negative review received a response from the business concerned, 33% people changed their minds and posted a positive review, 34% deleted their negative comments, and 18% became loyal customers! You should reply to the negative reviews politely and within as short a time as possible.
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Real estate businesses looking to improve their presence on the web and use local outreach from Yelp to national campaigns should be aware of how they manage their presence. Social media is a great tool to improve your presence and can be extremely useful. Make sure that you are managing it carefully. Of course if it is too much for you to handle contacting with a professional SEO company would be a good idea. Most of service providers can offer reliable reputation management solutions, with a dedicated team monitoring how online reviews are affecting the realtor’s business and providing effective strategies to address negative impacts. Whatever you do make sure that strategies are managed carefully. After all the online real-estate should be maintained well as well.
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