The Importance of Online Reviews in Real Estate

There’s no question that the sales business has been revolutionized by the arrival of the internet. The way we all make major purchases has markedly changed over the course of the last few decades. There is endless information available and there are new trends to constantly stay aware of – a tall order for the older generation of consumer trying to properly utilize this technology. One benefit of having it all online?: The ability to get feedback and opinions on products and services by people who’ve had experiences with them. And while a word-of-mouth recommendation still goes a long way towards identifying the best company or salesperson, online reviews are now outpacing personal appraisals. One industry that this is very evident in -- is the real estate business.

The process of buying and selling homes has been greatly shaped by the interactive market. Online listing sites, like Zillow and Trulia, play a crucial role in real estate transactions, since – according to Google -- 92% of home buyers begin their search online. Within these listings are a “comments” section, which is one of the first tools prospective consumers use in making a decision. People love reviews for a number of different reasons; it cuts through biased marketing techniques, and leaves a raw impression of the product or service.

While generally bad reviews aren’t something sellers or brokers want to see; there is something to be said for having a few not-so-wonderful critiques of their selling style. As a general rule, consumers are typically more likely to write bad reviews than good ones, so a broker with nothing but 5-star ratings might raise some red flags. Sifting through the amazing evaluations to find the one disgruntled customer is a guilty pleasure among online consumers, and a study shows that having these negative reviews mixed in builds credibility and trust amongst readers.

That said, positive reviews are great – but sometimes homebuyers and sellers are less apt to write them if not asked to do so by their agent. If you’ve had a great experience with a realtor, say so – and if you’re the one making the sale, be sure to ask your client for a quick write-up. It may seem awkward, but after explaining how important these are to your business, a satisfied customer will most likely be happy to craft one for you. The leading online directory for reviews is Yelp, because it links through your iPhone maps/business directory – so this is one of the best places to look for a review or to post one.

Online reviews do carry a tremendous amount of weight – BrightLocal’s consumer review survey says 88% of consumers trust them as much as personal recommendations. In real estate, then, brokers need to be masters of self-promotion; those reviews are the backbone of a solid reputation, because they’re 12 times more trusted than self-advertising.

What types of information should you include in a review? Anything about communication style, reliability, accountability and a having a far-reaching network are important in the description. Conversely, any deficits in selling style or customer service are critical, too. These are the same criteria if you’re looking for just the right broker to help you with your next move.

So, while you can peruse the internet looking for a thumbs up or thumbs down for your next real estate agent, don’t forget to add in the “human quotient.” At the end of the day, you need to be comfortable with the person who is handling one of the biggest financial transactions in your life. You should feel a connection with him or her, and vice versa. If you get a personal recommendation from someone you trust – give it some consideration. Feel free to consult the online reviews to round out your opinion, but look at the big picture when it comes to real estate. Just like shopping for a home – you’ll know when you’ve finally found the perfect fit.