Agent reviews were a hot topic at Real Estate Connect San Francisco. While the number of review websites is exploding, there are serious issues with both the technology and the process.
Agent reviews: here to stay
With multiple listing services, companies and third-party vendors such as Trulia, Yelp and Zillow all posting agent reviews, there’s no escaping the fact that agent reviews are here to stay. About 20 percent of sellers currently receive a post-closing follow-up, as do about 25 percent of buyers.
In contrast, approximately 60 percent of consumers go online prior to contacting an agent. Moreover, the research shows that not only are consumers shopping agents via reviews, so are other agents who are directing relocation referrals.
Larry Romito, the CEO of Quality Service Certification, said he sees two forces colliding when it comes to agent reviews: Consumers want to know about other people’s experience with the agent, but they don’t have the time to investigate it. The review process meets the consumer’s need to access agent performance ratings in an objective, reliable format.