The Results are In: Positive Reviews Boost Commercial Real Estate Businesses
The best commercial real estate agents care about online reviews, and for good reason: nothing tells you more about your business than a satisfied customer – except an unhappy one.
Before you dig into the stats behind the Annual BrightLocal Local Consumer Review Survey, look at the online reputation that one Houston-area CRE broker has cultivated, which landed them in the Top 10 search engine results for “commercial real estate brokers in Houston.”
City Group Properties has 19 online reviews, and they have obviously spent time ASKING their satisfied customers for feedback. (Most other CREs have few reviews – some none at all!). City Group Properties also has customers who talk about the best aspects of their service, points that are crucial in CRE – namely tenant occupancy.
Ready to Improve Your Reviews?
As part of our Revilly Marketing System, Ratinglly is 100% focused on capturing positive reviews of your business and intercepting negative reviews prior to being published by an unhappy patient or client. Ratings and reviews are one of the most important factors in deciding which business to use. A recent survey indicated that 86% of people will hesitate to purchase from a business that has negative online reviews. Ratinglly is the answer to the ratings game and will improve your reputation, trust and allows you to control negative feedback.
- 84% of people trust online reviews as much as a personal recommendation
- 7 out of 10 consumers will leave a review for a business if they’re asked to
- 90% of consumers read less than 10 reviews before forming an opinion about a business
- 54% of people will visit the website after reading positive reviews
- 73% of consumers think that reviews older than 3 months are no longer relevant
- 74% of consumers say that positive reviews make them trust a local business more
- 58% of consumers say that the star rating of a business is most important
Why Online Reviews Are So Important
A positive reputation is one of the most powerful marketing assets a business has to convince new customers to contact them. The social proof contained within reviews and star ratings helps consumers short cut their research and make decisions faster and with greater confidence than ever before.
The growing quantity of online reviews and review sites covering more industries and services, provides huge benefits to both consumers and the businesses that fully embrace reputation marketing.
In November 2016 we will be publishing some follow-up research that studies the impact of positive star ratings and reviews on both Search Click Thru Rates and Landing Page Performance. These findings, coupled with the results below, create a hugely compelling argument for why SMBs should invest more in reputation marketing.
About the Local Consumer Review Survey
The Local Consumer Review Survey was first conducted in 2010. Since we started running the survey we’ve seen see a dramatic shift in how consumers search for local businesses and the role that online reviews play in consumers’ research and decision-making process.
This year’s survey has evolved from 2015 with some variations on the questions asked. There are new questions, modified questions and certain questions have been removed which are no longer relevant or useful for SMBs and SEOs.The complete BrightLocal Local Consumer Review Survey can be found here.