Renters Write Reviews After Good and Bad Experiences
In our first Rental Marketing Webinar called “Rental Marketing Mistakes You Don’t Know You’re Making,” we discussed how renters choose their next rental professional and how they share their experiences. One of the discoveries we made was about the impact user reviews have on renters.
With the advent of social media and user review sites like Yelp, people are increasingly sharing the experiences they have with businesses. Rental businesses are no exception.
Some people feel that reviews come about from only negative experiences. However, in rentals, we found otherwise in our study of renters.
When we asked renters if they would write a review online if they had a positive experience with a rental professional, 73 percent said “Yes.” When we asked renters if they would write a review online if they had a negative experience with a rental professional, 75 percent said “Yes.” As you can see, the difference between the two responses is small. This means renters aren’t only looking to share bad experiences, but they’re also willing to share positive experiences that sway the decisions of other renters.
What do renters do with this information? According to our survey, renters are doing research. What kind of research? Research on you. 57 percent of renters perform an online search before deciding to work with a rental professional. This makes it increasingly important to monitor what is being said about you on the internet.
What does this mean for you? Reviews are important. Posts on user review sites, social media, and message boards/threads (any place where renters can share experiences) need to be part of your rental marketing plan. Renters are doing research on you and your business, and are using that information to make a decision to work with you.
However, not all reviews will be bad. If renters have a great experience with you, they’re willing to share the news with their peers. Use this to your advantage and encourage happy clients to share their experiences with you online.
For more on online reputation management, download our free guide, “How to Manage Your Rental Real Estate Reputation.”