How Online Reviews Impact Your Real Estate Business

In the past, a real estate businesses grew through literal word of mouth from consumers. With the growth of the internet, real estate businesses have transitioned, they’re building their digital word of mouth experience so that they can get leads from the internet.

Are you providing your clients with positive experiences so that they can easily go online and brag about how amazing your real estate business is? There are lots of online review sites like Yelp, Google, Facebook, TripAdvisor and even NextDoor. These sites provide a unique resource for your business; use them correctly, and you’ll draw new home buyers.

Real Estate Online Reviews

Effects Reviews Have On A Real Estate Business

How much do you trust the opinion of a friend when it comes to trying out a new business? Many people get a lot of their information directly from friends, which is something that may never change. However, did you know that online reviews have become just as valuable of a commodity when it comes to modern business habits?

In fact, research has found that 84 percent of people trust the recommendations of strangers on review sites like Yelp, Google, and Facebook as much as they trust recommendations from friends or acquaintances. Clearly, these sites can provide your business with a lot of value if you’re leveraging them appropriately.

When you have reviews on these sites, Google increases your online visibility based on your positive to negative review rate. If your business has a low star rating of two or below, then potential clients will bypass your company for one that has a review rate that has a higher percentage of positive reviews.

In fact, in recent research, it’s been found that 87 percent of modern home buyers will only do business with a real estate company that has a star rating of three to five stars. This means that you’ll need to garner positive reviews for your company to ensure success.

Additionally, reviews provide a bit of a window into the service that you provide. Remember, the home buying process is oftentimes complicated and stressful experience, so when a potential client sees that a new homeowner has nothing but positive things to say about your business, it can definitely provide you a new client.

How To Ask For Reviews

Seize the Moment

So, how do you go about getting new reviews for your real estate business? Fortunately, there are few experiences that are more exciting than finding a new home for your family.

When you sell a house, and your client is moving in, there’s a unique opportunity that you should seize on. Strike while the iron is hot and ask your new homeowner to leave a review about your company on the major review sites.

Just asking the client when they are happiest can certainly improve the likelihood of getting positive reviews. The longer you wait, the less likely they are to give you a review.

Feedback, Not a Review

Before asking your clients for a review you should first ask for feedback.

Why? Because asking for feedback lets your client know that their experience is important to you. It also allows them to give you feedback to help improve your business.

If they had a negative experience you want to be able to resolve that before they leave you a negative review on your company.

If they give you positive feedback you can then ask them to leave it as a review on one of the many popular review sites.

If you need help automating feedback check out our Broadly customer satisfaction tool.

How to Respond To Positive Reviews

So, you’ve checked the reviews about your real estate business, and you’ve noticed that a recent homebuyer has left you a review that really applauds the work that you’ve done for them. What’s the next step in the process that you can do in order to maximize the good that a review like this does for your business?

Always Be Thankful

As you might expect, never forget to show your clients that you appreciate the positive feedback. The clients that have used your company to find new real estate want to know that you value their business, so a simple “thank you,” really goes a long way. Always remember that a positive review is a big favor to your business and that your clients didn’t have to go out of their way to leave it. This is why showing a bit of gratitude is a great move that can also add value to your customer service experience in the eyes of future clients.

Don’t Forget to Mention Your Business

During your response, it’s a great idea to mention where your business is located so that this information is available for potential leads. Also, as a real estate business, it’s a great idea to mention the area in which you made the sale.

Try to Get them to Spread the Word

The social feed is definitely a crucial part of the process for just about any business. When your clients share that the home buying process was much simpler due to the excellent service that you provided, it means that the hundreds of friends that they have become a potential audience for your services. This social word of mouth is incredibly important, so let your clients know to share your work.

Share It Yourself

While you’re at it, don’t forget to share as well. Mentioning positive reviews about your business on your social pages and on your blog provides testimonies that can help your site’s browsers lock in a decision to use your services.

How To Respond To Negative Reviews

So, you’ve received a dreaded negative review. Fortunately, this is far from the end of the world. As mentioned previously, these reviews definitely happen, and it’s all about how you deal with them. Let’s take a look at some steps that you can do in order to respond to negative feedback.

Acknowledge it

First and foremost, never ignore a negative review; this looks particularly bad and can really cascade with time. Always express gratitude to the reviewer for bringing the issue to your attention. Mention that their feedback is appreciated and even ask if there are any ways for you to make the situation right. Sometimes, your client can be just airing out grievances because they had a bad day, you’re responding this way can help disarm a volatile situation and help you provide the customer with a satisfactory solution.

Say You’re Sorry

Always be contrite in these situations. Show other potential clients that you’re sorry for the issue and mention the exact area and service of the house in question.

Explain

When negative situations occur, there are always reasons for the issue, and sometimes, these issues occur through no fault of your own. Despite this, still maintain that you’re sorry for the inconvenience, but also explain the situation to potential customers.

Attempt a Reach Out

Reaching out to an unhappy client on a non-internet-based platform is very useful. Mention to them that you’d like to talk on the phone or in person about their issue. This disarms the situation a bit and can also help you deliver a positive solution to the customer.

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Conclusion

These tips can really help you build your real estate clientele because the review experience is so intrinsic to the marketing processes of your company. Remember, 51 percent of potential homebuyers use the internet and its search engines to find a local real estate company. This means that when they are searching for businesses like yours, they are inevitably going to look into reviews of your services.

When this happens, a complete lack of reviews or a wide array of negative reviews can hurt your business’s profitability, so attempting to manage the number of positive reviews on your site is very important. Always strike when the iron is hot, be thankful, and be prepared to directly respond to any negative reviews that crop up, and you’ll find that your business will start to reap some excellent rewards.

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