How to Use Online Reviews to Boost Sales

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Real Estate Technology with 855-419-6019

Why Do Online Reviews Matter?

Your clients have power.

And online reviews are the tools they use to wield that power.

According to research by T3 Experts, the growing influence of online agent reviews is one of the biggest trends in real estate right now.

Despite being a point of controversy in the real estate industry, the consumers’ rising demand for information means that the trend of agent reviews will only increase in significance. Instead of trying to fight it, use it to increase your sales numbers.

 

Agent Reviews Build Trust 

Reviews are an organic (and free!) way to build trust and strengthen your reputation. According to the 2013 National Association of REALTORS® (NAR) Profile of Home Buyers and Sellers, the “most important factors when choosing an agent” break down like this:

Consumers trust peer recommendations 6.5 times more than traditional advertising. Agent reviews are seen as candid communications meant to guide future customers with their decisions, rather than “fake” testimonials from clients who may have been incentivized by the business itself.

 

It’s pretty straightforward. It’s all about trust. Online reviews allow customers to express their honest opinion about a service or business. And they use these trusty reviews to find an a trustworthy agent to work with.

 

Agent Reviews Generate New Business

A 2014 survey found that “Realtor®/Surveyor” was the 13th most frequently searched-for local business type, and that the number of people searching for “Realtor®/Surveyor” tripled from 4 percent in 2013 to 12 percent in 2014. (source)

 

A joint study by Yelp and Nielson showed that “real estate” is the 13th most regularly searched-for topic on Yelp (30 percent). According to Reevoo, online reviews produce an average of 18% uplift in sales.

 

“Online reviews shouldn’t be thought of solely in the context of lead generation, but also as confirmation of an agent’s success and “protection” of their current and future business. Yes, once in a while we get calls from people who have never heard of us but found us because of our online reviews. But people very consistently say, “I’ve seen your signs all over town, so I looked you up and read your reviews online.” - Leslie Ebersole, Team Leader, Baird & Warner

 

How To Build Your Agent Review Strategy

Now that you know how reviews can generate more revenue, you’ll need to form an effective agent review strategy. This means building it into your processes as a long-term objective, rather than a one-time deal. Here are some basic steps to building your review strategy:

 

  • Create a business page on all major sites

  • Always provide outstanding service

  • Ask for a positive review

  • Make it part of your closing process

  • Don’t fear a bad review

 

“Agent ratings and reviews get the headlines, but their true value comes as a by-product of the consistent, systematic measurement of the customer experience delivered in every transaction. Consumers, agents, and the industry win in this scenario.” - Jeff Turner, President, RealSatisfied

 

[ Generate More Leads With an Agent Review Strategy: A Detailed Guide ]


69% of agents said that leads from reviews were either relatively easy or very easy to convert (T3 Experts). Agents who consistently leverage online reviews for lead generation see major results. Simply put, good reviews translate into cold, hard cash.

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Rainer
29,038
Kevin Morris
Berkshire Hathaway HomeServices Hodrick Realty - Danville, PA
Real Estate agent serving danville and surrounding

There is some good iinformation here. The change in how many people search by reviews was suprising to me. 

Apr 06, 2016 04:16 AM #1
Rainmaker
1,119,401
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Yelp reviews are posted by frequent yelpers. Unfortunately those who do not are write enough reviews are rejected. They favor frequent yelpers who are often professional Yelp reviewers.  Z or Trla have similar restrictions but they do not mind if ones account is new.  If you are Premier agent the requirement is relaxed. Ever wonder why some reviewers names are the same as agent?

Apr 06, 2016 05:22 AM #2
Rainmaker
553,194
Francine Viola
Coldwell Banker Evergreen Olympic Realty, Olympia WA - Olympia, WA
REALTOR®, In Tune with your Real Estate Needs

I'm trying to build my reviews using Google but with Google, you need to have a gmail or G+ account to write the review.  Not very user friendly.

Apr 06, 2016 07:06 AM #3
Rainer
18,399
Melissa M. Kellogg
Avanti Creative Group Inc. - Fort Collins, CO

Great article Kelly! Totally agree that reveiws are so important and an effective way for new clients and prospects to find you. From my experience, the fear of negative reviews and how to handle them keeps some agents from even venturing into using reviews for marketing. I recently wrote an article for Realtor Magazine Online about how to handle negative reviews, which may help those that struggle to overcome the worry of negative reviews. 

Apr 07, 2016 01:28 AM #4
Rainmaker
1,119,401
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Melissa M. Kellogg 

"Be as transparent as possible and have as much of the conversation with a complainant publicly as you can".   I love it.....

Often the most arrorgant pusy type realtors gets most compliants.....

Apr 11, 2016 02:27 AM #5
Rainer
436,217
Jerry Lucas
ABC Legal Docs LLC - Colorado Springs, CO
Mobile Notary Colorado Springs, CO Notary Training

I think reviews are a big mess.  Too many fake reviews, reviews by non-customers that never completed a transaction, reviews from actual customers blocked or filtered, reviews from people who do not even live in the same market, no sworn statements to tell the truth, personal attacks rather than constructive feedback, emotionally unstable volcanoes that explode into anger and rage for minor problems.  The customer is not always right. Some customers are dishonest, unethical, hateful, arrogant, time wasting.

Apr 27, 2016 01:43 PM #6
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