I am an online business providing software solutions to landlords and property managers. As such, industry acceptance and trust is an absolute must. I struggled with this decision for the last couple years on whether to take the leap and apply for BBB Accreditation. For anyone unfamiliar with BBB Accreditation it is an official seal from the BBB confirming a company is established, legit, honest, and handles customer complaints (if any).
Officially from the BBB website: If a business has been accredited by the BBB, it means BBB has determined that the business meets accreditation standards which include a commitment to make a good faith effort to resolve any consumer complaints.
Their accrediation standards can be reviewed here.
The upsides as I see them:
- The BBB is basically a 3rd party endorsement that you are a real business
- Being an accredited business is third party endorsement that your company meets all the standards above. Otherwise they pull your membership right?
- You get listed within their accredited business directory, and they refer business to you both electronically and over the phone if they receive inquiries about your market / location.
- If your not already listed on their site as an unaccredited business, it provides another link into your website that otherwise didn't exist which is good for SEO.
The downsides:
- Cost. I believe it's different in various parts of the USA; however, an online business forks out about $800/yr to be a member in the northwest.
I've read articles stating the BBB is an unnecessary entity since anybody anywhere can search out a companies reputation online, and that along with the cost itself of joining the BBB are what kept me on the fence the last two years.
I opted to go ahead for accreditation, and was approved just the other day, YAY!! Here's why:
Take my industry for example, our website provides property management software and tenant screening to property managers and landlords. I've done it, many times, searched for property management software reviews, and other variations. Unfortunatly there is not a single site out there with unbiased information. Most of the sites are owned by competitors just plugging their product, or advertising companies trying to retrieve and refer the sale. In my industry there are very few, if any, legitimate and unbiased third party reviews. I imagine the same holds true for most industries including real estate professionals.
When I have customers ask if we are legit I now have a place that is instantly recognized (the BBB) as a legitimate source of trusted information to refer them to.
Opinions on BBB Accreditation, Thoughts, Suggesstions? How does it work in YOUR industry?
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Nathan is a member of Rentec Direct who provides property management software, tenant ach payment processing, and Rentec Direct's tenant credit, criminal, and eviction screening.
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