Digital Marketing

The Impact of Online Reviews on Real Estate Reputation Management

February 27, 2024

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Online reviews play a key role today in influencing many purchasing decisions. If you’re keen on purchasing something online the first thing you do these days is look at the reviews. You have the answer if you feel the reviews are genuine enough. And today reviews hold great importance not just in simple purchases but also in many industries. Real estate is one such industry where reviews are reigning high. You would want to hear what other people are saying about a particular builder and their views on the projects. This will lay a foundation for you to make an informed decision.

With the emergence of online platforms, the perception of a real estate agency or agent is no longer confined to word-of-mouth or local advertising. Instead, it is influenced by online reviews, testimonials ratings, etc. A robust online reputation can be a valuable asset, while a negative review can create a disaster at the same time.

Online Reputation in Real Estate

online reviews

In today’s tech-driven world, having a strong online presence is important for potential real estate investors. A well-established real estate business profile can lead to real estate lead generation , and bring new contacts, referrals, and sales. If not managed well, it can pull down the brand instead of helping it.

Online reviews have become a source of trust which is equal to word-of-mouth recommendations. Prospective buyers and sellers often turn to platforms like Google, or leading real estate websites to get an insight into the reputation of agents and agencies before making decisions. These reviews provide information on the quality of service, professionalism, and overall satisfaction experienced by previous clients.

Brand identity is important in real estate. Many investors don’t pay much attention to online presence, which can cause big problems for the business. Your online reputation is what can make you big in the business or bring you down. Holding hands with a leading reputation management company can help manage your presence online.

The Role of Online Reviews in Real Estate

It is said that people usually don’t trust real estate agencies, and that’s why they turn to their friends, relatives or other customers to get a clear picture of residential properties.

According to NAR’s 2023 report on Home Buyers and Sellers Generational Trends, many buyers and sellers find their real estate agents through recommendations. About 38% of buyers and 36% of sellers discover their agents through friends, neighbours, or relatives.

Following are some of the key roles of online reviews:

Trust and Credibility

Online reviews are helpful for those who want to buy a home, as they can see what other people have to say about the experience of a residential property. Good reviews make home buyers feel confident which gives a sense of trust.

When people want to buy or sell a house, they want to make sure to deal with the best real estate agent. Good reviews tell that the agent is good at the job which makes their business stand out from other agents.

Transparency and Accountability

Buying a home is the biggest transaction of anyone’s life. It is important potential homebuyers head in the right direction. As mentioned earlier, online reviews are more like getting recommendations from friends and relatives. They share experiences in the form of testimonials, which gives a sense of authenticity and transparency to the property.

Improves Visibility

Having online reviews boosts a business’s visibility. This means your chances of being found by potential clients are higher. With 80% of sellers opting for the first agent they contact, having a strong online presence is crucial.

Strategies for Managing Negative Reviews in Real Estate

A real estate business understands that reviews form an integral part of the functioning of a business. No matter how many positive reviews you receive, one negative review will continue to stand out, which will make you wonder what went wrong.

Some clients expect too much and won’t be happy no matter what. They might still leave a harsh review even if you do your best.

Be Proactive

Clients usually only leave negative reviews when they’ve tried everything else. To avoid bad reviews, it is important to understand the problem and try to resolve the issue as soon as possible. Maybe you can give your clients a special phone number and email where they can address their complaints.

Your contact information should be provided everywhere – on business cards, social media, websites, and ads. Keep a record of complaints and find common issues to fix them before they become big problems.

Address the Issue in Private

If a client is facing an issue with the end result, it is best advised to talk out the issue in private, so that the real estate agent can get a clear picture of the problem. Buying or selling property can be emotional. Handling negative reviews in public might lead to endless arguments. As a result, this could stain the name of a brand. It’s best to talk directly with the person by phone or in-person to understand the problem. Handling it privately protects both their privacy and yours.

Listen

Any problem can be resolved when you pay attention to the root cause of the matter. Whether it can be solved or not depends upon the content of the matter. This is why it is necessary to listen and understand the issue of the client in detail.

Clients often leave bad reviews because they feel ignored or misunderstood. Some do it to get attention, while others want to harm your reputation. Ignoring a negative review is a big mistake. It leaves a bad impression. Even if you disagree, show you’re listening and value their feedback.

Kindness is Key

Online reviews can be of any kind. They can be good, bad, harsh, etc. But as a business, practising good work ethics can make a huge difference. When a review that’s mean and harsh comes to notice, the first thing you need to do is to respond quickly in a polite manner.

Give your official email address so that the client can detail their matter. This level of professionalism will convey to clients and prospects that you value them.

You can even set up Google alerts to stay updated on what people are saying about your business. When you see a bad review, respond quickly and nicely. Being professional shows customers you care about them.

Give a Positive Experience for Your Clients

Whenever an issue has been addressed to you by the client, make sure they feel confident and comfortable to speak about their concerns. If you can’t fix the problem after talking privately, show you care with a gift, like a painting a gift card or vouchers. Such gestures leave a good impression. But don’t give gifts with conditions, like asking to change a bad review. That could cause legal problems.

Positive reviews are valuable assets that can be leveraged to enhance reputation and attract new clients. Here are some strategies for maximizing the impact of positive reviews:

Highlight a Positive Review

You can showcase positive reviews on your website, social media platforms, and other marketing channels. This serves as social proof of your expertise and reliability.

Doing this will make more people know about the brand on social media.

You can even repost the review again, and try tagging the person mentioned. They might share it with their friends, introducing the brand to a whole new group of people they trust.

Video Testimonials

One of the main problems businesses face with reviews is making them more engaging. Some people prefer hearing or seeing why customers love a product rather than just reading about it. That’s why video testimonials are a great way to show the value a company offers.

Encourage satisfied clients to provide testimonials or endorsements that can be used in promotional materials. Personalized testimonials carry more weight than generic reviews.

Use Reviews in Marketing Campaigns

Using reviews in marketing campaigns is a powerful strategy for leveraging positive feedback to enhance reputation. When positive reviews are incorporated into marketing materials such as advertisements, social media posts, website content, or promotional emails, they serve as compelling endorsements of the business. By featuring snippets or excerpts from glowing reviews, companies can showcase real-life experiences and testimonials from satisfied customers.

Conduct Webinars

There’s something special about having a customer become an advocate of your brand. When you have a client who is satisfied with your work, you would want them to share their experience. By doing so it’s like having an extra salesperson on board, who tells everyone how satisfied they are with a project. This is a big deal for your team, and you should take advantage of it.

One easy way is by hosting a webinar with them. In a webinar with your satisfied clients in it, you’re giving them a chance to tell their story and why they love your company to people who might buy from you.

Conclusion

By effectively managing online reviews and leveraging positive feedback, real estate professionals can enhance their reputation and attract a steady stream of satisfied clients. In an industry where trust and credibility are paramount, maintaining a positive online reputation is essential for long-term success.

Thanks For Reading !

Author - webdura_analytics

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