Choosing a Real Estate Agent? The Rules Have Changed

Real Estate Agents Meme

Looking for a Real Estate Agent?  My how things have changed in the last 2 years. ReviewInc has followed up on its study from 2015 with a new survey about choosing Real Estate agents, and the results are in.

The exact same survey was presented to 1,500 U.S. consumers asking them what they research before they engage the services of a real estate broker. It is clear that online research continues to dominate the landscape. While people continue to ask their friends or neighbors, online mediums including the agent’s website, searching Google/Bing and reading reviews on sites like Zillow, Yelp and Google are still critical for real estate agents.

Real Estate Agents 2015 vs 2017

The two categories that saw the largest change were checking reviews on Zillow and the agent’s website. Of course, even reviews on Yelp and Google saw a higher percentage change, but Zillow saw twice the rate of the change compared to Yelp and Google.Change in Research Methods for Real Estate Agents

When ReviewInc conducted its original survey, Zillow (NASDAQ:Z) had just announced its acquisition of rival Trulia for $2.5B.  It was a gamble, but it appears to have paid off.  Zillow shares have grown by over 20% in the past two years outpacing Yelp (NASDAQ:YELP) whose shares declined by 16% since in that same period.  Of course, Google, aka Alphabet (NASDAQ:GOOG), the 800 pound gorilla, continues to steam forward.
StockPrices

If you are a real estate agent, make sure that your website is updated and optimized for local search.  Also, make sure that you get lots of reviews on Zillow, Yelp and Google – because they clearly matter.

Most businesses find it difficult to engage every customer in a consistent process. Utilizing a feedback and review management system, such as ReviewInc, is the best way to automate and measure feedback.

Interested in a free consultation on how to improve your online reviews and overall reputation management? Call ReviewInc at 877-973-8439, leave ReviewInc your contact information or email ReviewInc at info@reviewinc.com to schedule a free, no-obligation consultation.

Real Estate Agents and Brokers: Reviews Matter!

real estate agent

 

Despite historical low interest rates, home ownership is down and real estate agents must work harder to get clients in a cut-throat market.  While personal referrals are still the leading channel for new business, internet access is changing all that. Online reviews can’t be ignored. In fact, if you are an agent or broker, you better pay attention.

In April, 2015, ReviewInc conducted a study of 1,092 U.S. Consumers about the process they use to engage the services of a real estate agent or broker. Consumers use a combination of several pieces of information aside from asking their friends or neighbors for a reference. The study showed, that 61.5% used internet based research to gather information about a broker or agent. These included reading their online reviews, using search engines (e.g. Google or Bing) and checking with agent’s website.Survey Results - Real Estate Broker Services

In contrast, only 14% even read their advertising material. So if you are an agent spending hundreds or thousands of your marketing dollars on printed marketing material, now would be a good time to rethink that. While 37.3% would ask a friend/neighbor about an agent, a whopping 29.4% checked their online reviews on sites such as Google, Yelp, Zillow or Trulia. Checking reviews was even more important than internet searches or the agent’s website.

Home-Ownership-ChartConsumers know that a good real estate agent or broker can save them time and money. According to U.S. Census Bureau there were 115.6 Million households in 2013 of which 64.9% were home owners. As long as long term interest rates remain low and with an economic recovery around the corner, a rebound in ownership is anticipated. Agents and brokers with great online reviews should expect to get a larger share of the home buying and selling market.

ReviewInc can help your real estate brokers and agents get more reviews everywhere and enhance your reputation. For a no obligation consultation call us at 877-9REVIEW or leave us a note here and we’ll contact you.

LunchAndLearn

Listen to ESPN 1700, San Diego, on Monday April 24 at noon on at Lunch N Learn radio show hosted by Eran Sinai.  Mr. Sinai will discuss this article and related reputation management topics with ReviewInc’s Henri Isenberg.

Review Sites Spending Big Money On “Eyeballs”

As Seen On TVIf you’ve been watching your favorite sports team, sit-com, drama or news show, you may have seen a commercial for one of any number of review sites.  Recently, Apartment Ratings has joined the advertising blitz with TV commercials aimed at attracting more visitors.  The more visitors review sites get, the more they can charge for advertising (which is usually how most review sites monetize their site).

With a 30-second TV commercial costing anywhere from $30,000 to over $500,000, it means that review sites have recognized that there is a huge audience looking to read reviews.  Let’s have a quick look at several well known review sites that have spent significant dollars to lure in more visitors:

Apartment Ratings

Avvo

Angie’s List

Health Grades

YellowPages

Foursquare

TripAdvisor

UrbanSpoon

Zillow

SuperPages (Mobile App)

Your business reputation is an investment. With significantly increasing consumer traffic to popular review sites such as these (and many others), business owners and marketing managers need to take more control of their online reviews.

ReviewInc can help your business get more reviews everywhere and enhance your reputation.  For a no obligation consultation call us at 877-9REVIEW or leave us a note here and we’ll contact you.