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Are Reviews Radically Reshaping Real Estate?

November 27 2014

t3 agent ratings paperNearly nine out of 10 of people now trust online reviews as much as personal recommendations or referrals. The New York Times went so far as to say, "If you provide a service or sell a product and you are not reviewed, you might as well not exist." More specific to real estate, a recent survey from Google shows two in three customers "researched prospective real estate agents extensively online prior to working with them." Real estate agents are being reviewed everywhere, so it's time to build a strategy for watching and managing your online reputation though review sites like Zillow, Yelp, Trulia, and many others.

According to Real Estate Confronts Agent ReviewsReal Estate Confronts Agent Reviews, a white paper just released by T3 ExpertsT3 Experts, these are among the primary reasons online reviews are significantly affecting the income of top agents and teams. Real Estate Confronts Agents Reviews summarizes several years of research, in addition to the results of a survey T3 Experts conducted earlier this year. This document is a roadmap to understanding reviews and how to build a strategy to protect your online reputation.

Other highlights from the white paper:

  • 88 percent have used online reviews
  • Nearly 9 out of 10 people now trust online reviews as much as personal recommendations
  • 15 percent search online for a local business "almost every day" (this statistic was 7 percent in 2013)

What do you think? Have agent reviews impacted your business? Is this a passing fad, or a foundational, fundamental shift in terms of how agents and teams are getting and will get business in the future?

If you want to learn the topic from top to bottom, we suggest you download a copy of Real Estate Confronts Agent ReviewsReal Estate Confronts Agent Reviews and get up to speed on all the factors making this a possibly important trend in real estate. It also includes a large "How To" section which may be valuable for you and your real estate operation.

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