Just give me 5 stars: The real deal with agent reviews

What's a rating really worth?
  • Agent reviews are all the rage. Everyone has them, and everyone wants 5-star reviews.
  • Many times, the people who review agents are first-time homebuyers or sellers, and they say that in the review. What makes them qualified to judge an agent?
  • Many agents claim that their 5-star ratings get them more business, but I have to wonder how true that is.

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

I have been thinking about agent reviews again because they have been in the news -- well, not in the national news or anything, but in the real estate news. According to industry experts, real estate agents are supposed to embrace agent reviews without regard to where they are housed or how they are designed. A couple of weeks ago, I recommended a few inspectors to some clients who had just made an offer on a home. The clients did some research, looked at online reviews and chose a marginal inspector who was not on my list and part of a national franchise that I would never recommend because my clients have had some bad experiences with their inspectors. It makes sense that homebuyers would look at reviews, but most of the reviews were left by inexperienced first-time homebuyers who know little about old houses and who had never been on a buyer’s inspection before. Are these people really qualified to review home inspectors on anything other than punctuality and communicatio...