How well do you shop before you Eat - Shopping for services vs online rating systems - Part 3 of 3

Gosh Jeff, I need to go read all these articles. I would say that yes, most of them can be manipulated. The #1 sales team in our area has worked the system so well that few people know how horrible the experience with them can be.

Reputation Architecture is what everyone is talking about - all of a sudden. Zillow has come up with 'review' from the clients and IncredibleAgents have something similar to that. 

Doing business online has it's own pluses and minuses - and one can surely have a major negative impact on one's reputation when someone has to deal with difficult clients. Some are always happy-go-lucky and no matter what you do, you get '10' and some are so stingy, they will rate you badly on just one negative thing which may not be in your control!

Isn't that the reason why everyone should attend RainCamp this year - the topic is Reputation Architecture for Day 1 (and a freebee for rainmakers on Day 2)

If I happen to attend the one in AC, I'll see you there on April  4-5.

Jeff, I'm finding it intersting to see the big role that Angie's List has started to play in this area.  There are now Realtors being rated on that site.  And I guess it's a good thing that they've changed the format for Rain Camp! 

I agree, good information

Of, course, where there is will there i a way - so the manipulation is there. That's why reach realtor adn team needs to have a strong marketing program online and off.

Ratings are only an intro in my opinion.  Going beyond the surface always produces better results than taking things at 'face value.'

When I am suggesting lenders for my buyers in the Prescott AZ area, the criteria I use has very little to do with points or rates. I am suggesting lenders who have consistently helped me get deals closed and have gotten excellent reviews from my buyers. Do I need to be comparing rates too?

Jeff, great post!  Now I have to go read the first two...   Guess maybe I'd better subscribe to your blog, eh?

And I WILL be in Atlantic City; hope to meet you there!

I definitely think the online rating systems can be manipulated. In fact, I think it's a little bit scary, because a competitor could blast you right out of the water just by telling blatant lies. AND... they could up their own rankings by getting friends and family to sing their praises.

I think what is frustrating for buyers is that it's hard for them to really 'shop' for a mortgage when all the buzzwords get in the way of their final interest number. It's harder too now also because of the interest adjustment based on their credit scores. Sometimes you just have to accept the rate & that is what it sounds like to me.  Someone (LO) has said, well at 675 it is X rate. 

I think most clients are very intimidated when they get a mortgage.

I will recommend the lenders that do the best job for my clients!  Never looked at a rating system.

We are what we are.  Paying for marketing is always a gamble.  Doing a professional job gets the best shot at quality referrals.  Do not forget to ask for them.  Ratings we give ourself are far more important than someone trying to do a rating system to make a splash in an upside down real estate market.  Control what we can and give the time ratings need to stay abreast of what is going on to be ready to handle questions or objections and then move on.

I strongly recommend to my buyer clients that they interview a few different lenders to ensure they are getting the deal they want. I give them names of 3-4 great local lenders that have a proven track record with past clients.

I don't think most people even know how to shop for a loan.  They do not know all the questions to ask and they do not realize how many ways a lender can make money on them.  You might want to do this in your marketing materials - assuming you are the best buy.

This may be completely off the topic, but there could also be agents out there who are not as internet savvy but can and will awesome, knock-your-socks-off service - so to those people, what will we say? Too bad for you?

At the same time, an agent for participates and being the front runner of technology becomes big-headed with the success, I guess it doesnt matter so as long as this agent gets the job done?

Sorry, it's completely off topic. But all I want to say - all these things are cool, way cool - and when will we stop in doing business the old fashion way? By mouth.