3 Important Reasons Your Online Reputation Matters In Multifamily
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3 Important Reasons Your Online Reputation Matters In Multifamily

Posted on May 28, 2024 by Grace Hill

Why Online Reputation Management Matters In Multifamily Happy beautiful couple using computer while sitting on the couch at home.

Whether you’re buying a new shampoo or scouting out a place to live or work, you likely rely on online feedback before making a purchase. 

Most of us (95%) read reviews before making a purchase, and 58% will actually pay more for a product, service, or experience with stellar ratings. 

This buying behavior is no different in property management, where 84% of residents make their leasing decisions based on online ratings, and 79% will even change their minds about touring a potential home if they don’t like what they read online. 

Even though leases are signed in your multifamily office, the rental shopping process begins online. That’s why an airtight online reputation management (ORM) strategy is a must. 

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What Is Online Reputation Management

ORM refers to the process of monitoring, tracking, and influencing your property’s online reputation. Best practices include analyzing conversations and reviews, identifying issues, and boosting your overall standing. 

In property management, positive reviews are essential because a negative online reputation can lower occupancy rates and make it difficult to attract residents. 

3 Reasons Why Your Online Reputation Matters

In today’s digital age, attracting residents to your multifamily property hinges on more than just square footage and amenities. A positive online reputation is crucial for success. Armed with smartphones and access to countless reviews, potential residents will size up your property based on what others have to say. 

If you think your online reputation doesn’t really matter, think again! Cultivating a strong online presence not only fosters trust among residents and potential residents but also increases your visibility and gives you a competitive advantage in an increasingly crowded marketplace.

Let’s explore three reasons why your online reputation matters.

Builds Resident Trust 

Every resident wants to live in a place that feels safe and trustworthy. By keeping your online reputation in check, you’re signaling to prospects and residents alike that your multifamily property is a nice place to live with a credible reputation. 

Additionally, an excellent online image gives business partners confidence in the quality of your property. Success hinges on a strong reputation, so property managers must prioritize their online reputation management strategy.

Increases Your Visibility 

When you stumble upon something awesome, you want to tell everyone about it, right? A great online standing encourages residents to spread the word about your property across the web, which, in turn, boosts your visibility and reputation.

Maximizing your online presence gives you more control over your social media and search presence. Adding attention to this detail places your property at the forefront of where prospective residents search, resulting in more form fills and phone calls.

Provides a Competitive Advantage

A positive reputation shows residents that your property cares about their living experience. When residents feel respected, they want to renew their leases, refer their friends, and write favorable reviews when they move out.

Monitoring your online reputation also puts you in an ideal position to respond quickly to negative reviews or virtual attacks, preventing potential PR disasters from harming your property. No one wants to go viral for all the wrong reasons, which makes having a robust ORM solution in place all the more important. It gives you an automatic leg up on the competition.

An ORM strategy lets you take control of your online narrative, prioritize effectively, and prevent potential disasters before they begin.

Simplify Your Online Reputation Management With Grace Hill

To attract and retain residents, you need a winning ORM strategy. With Grace Hill’s online reputation management tool, you’ll have access to a single dashboard view of your reviews, listings, and social sites, along with key metrics to help you understand and improve overall performance. Our solution can simplify your ORM strategy by helping you:

  • Create a consistent online brand.
  • Save time managing responses.
  • Maximize social media engagement.
  • Leverage reviews to attract prospects.
  • Maintain accurate listings.
  • Assess your brand’s online presence.

Consolidating this information into an easy-to-understand report empowers your multifamily property to respond to reviews, monitor competitors’ digital efforts, gauge customer satisfaction with our Local Brand Visibility (LBV) benchmark, and more. 

Request a personalized demo to learn more about our online reputation management tool and how it can enhance your online presence.

Grace Hill’s marketing content team aims to create informative resources that help multifamily and commercial industry professionals elevate their performance. From blog posts and ebooks to infographics, checklists and webinars, the Grace Hill team has a singular focus: creating meaningful and engaging content that resonates with real estate professionals across the industry.  However, what makes Grace Hill so unique is the range of collective experience and collaborative spirit of its marketing content team. A group of talented writers with expertise in the real estate industry, overall management effectiveness, marketing strategy, and operational efficiency, the team provides new ideas to take performance to the next level. As a thought leader, Grace Hill's content team constantly pushes the envelope, experimenting with new resources and tools to keep industry professionals ahead of the curve.  Whether you're a seasoned pro or just starting out in the real estate industry, the content team at Grace Hill is creating resources to help you succeed. Learn more about Grace Hill on LinkedIn.

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