In the high-stakes world of property management, real estate, and property development, decisions are driven by credibility and trust. Your company’s reputation isn’t just one aspect of your business – it IS your business!
This blog will arm you with the strategies necessary to foster, protect, and enhance your reputation, giving you the edge in the market. Discover how to address negative feedback with finesse, while navigating the competitive landscape.
How Important is Reputation in Property Management, Real Estate and Property Development?
Your company’s reputation is the cornerstone of your business’s success. It articulates what your core values are, and what sets you apart from the competition. A stellar reputation also builds trust with your stakeholders and the community. It also attracts new customers and creates a significant competitive advantage.
Types of Property Management, Real Estate and Property Development Reputation Management
Effective reputation management necessitates vigilant monitoring of your online presence. This involves setting up alerts and consistently scanning social media, news outlets, and review sites that mention your company.
Search Engine Optimization (SEO) is also a powerful ally to amplify your brand by improving your presence in online search results. By generating content with relevant keywords, you can boost your online visibility, driving more traffic to your website while improving your online reputation.
Engaging the media (TV, radio, newsprint, and podcasts) is also a great way to enhance your reputation. Earned media offers an instant third-party credibility advantage over advertising since a reporter’s story about your company is viewed by the public differently than a paid advertisement about your company.
Who Needs Property Management, Real Estate and Property Development Reputation Management?
Whether your’re in property management, real estate, or property development, the tips in this blog will lead you to an enhanced reputation.
Property Management Companies: Firms that manage residential, commercial, and industrial properties on behalf of building owners.
Hotels and Hospitality Companies: Businesses that manage hotels, resorts, and other hospitality properties.
Real Estate Agencies and Agents: Companies and individuals involved in buying, selling, and renting properties.
Real Estate Developers: Firms that handle the development and construction of new properties.
Commercial Real Estate Firms: Companies specializing in commercial properties, such as office buildings, retail spaces, and industrial properties.
Real Estate Investment Trusts (REITs): Companies that own, operate, or finance income-generating real estate.
Real Estate Appraisal Firms: Companies that provide property valuation services.
Real Estate Consulting Firms: Firms offering advisory services on real estate investment, development, and management.
Home Builders: Companies that construct residential properties.
Real Estate Marketing Companies: Firms that specialize in marketing real estate properties.
Mortgage Brokers and Lenders: Firms that provide financing for real estate transactions.
Vacation Rental Management Companies: Businesses that manage short-term rental properties, such as vacation homes.
Facility Management Companies: Firms that oversee the maintenance and operations of large properties and complexes.
Real Estate Law Firms: Legal practices specializing in real estate law, including transactions, disputes, and compliance.
Strategies for Real Estate Reputation Management
Monitor Google Reviews
Google processes 8.5 billion (yes, billion) searches every single day. 82% of consumers read online reviews before making a purchase with a business. So, you should be utilizing Google Reviews for reputation management.
You need to be monitoring your Google My Business account regularly. Bad reviews can happen to great companies. It’s your job to respond to them and fix the issue proactively. Your clients and customers just want to be heard, and responding proactively is a great way to communicate with customers and reassure potential ones.
You can also set up Google alerts for your company name. Any time your brand is mentioned, you will get an alert.
Keep an Eye on Reddit Boards
Reddit is a treasure trove of brutally honest feedback. Keeping an eye on relevant subreddits can give you insights into what people are saying about your business and the industry. While you may receive one or two bad Reddit posts over the course of a year, seeing numerous negative reviews should signal a major issue that you need to address within your company.
SEO for Reputation Management
SEO isn’t just for driving online traffic to your website — It’s about controlling what people see when they search for your company or your employees. Let’s say your company suffered a cyber-attack, along with some bad press. Once you’ve worked with a cybersecurity company to resolve the issue, you can create an SEO-optimized article with the title “[Your Company] cyber-attack fixed”. This would go a long way toward helping repair your online reputation, which may have been tarnished by a cybersecurity breach or attack.
SEO is also often used to build authority within an industry. People turn to Google to seek answers. If they’re searching “how much rent should I be paying in Toronto,” or “how much does it cost to build commercial property.” You could answer these questions and establish yourself as an expert in the field that is providing helpful insights.
Community Involvement
Get involved in your local community. Sponsor events, participate in charity drives, and engage with local organizations. This not only builds your reputation but also strengthens your relationship with the community. People love businesses that pay it forward.
Media Relations
Building strong relationships with local and national media helps you manage your reputation. Sharing good news about how your company is providing much-needed housing or adding a new commercial development to a neighborhood is good PR for building your brand. And in bad times, a good crisis manager knows how to use media to your advantage, turning potential PR issues into opportunities to showcase your company’s values and responsiveness.
It can take years, sometimes decades, to build strong relationships with media members and outlets, that’s why so many property management and development companies partner with a PR specialist, like Solv Communications.
Partner With Not-For-Profits
Partnering with not-for-profits is a win-win. While supporting a good cause in your community, you’ll enhance your reputation. It shows the public and your key stakeholders that your company cares about more than just profits and is committed to making a positive impact in the community.
Monitor and Engage in Social Media
Social media is where reputations are made and broken these days. Monitor your social media channels, engage with your audience, and respond to comments and messages promptly. It’s all about being present and proactive.
How Long Does Reputation Management Take?
Reputation management is an ongoing process. We live in a fast-paced news cycle, but that doesn’t mean you can ignore bad news that may damage your reputation. Addressing any issues proactively is the best way to have your side of the story heard and understood.
Over time, when people search for your company, they’ll see that you not only acknowledged and addressed the problem but also took steps to prevent future ones. Nobody’s perfect, but showing that you’re committed to improvement goes a long way.
Who is Responsible for Reputation Management?
You can handle reputation management internally, but it’s always a good idea to have PR and reputation management experts take a look. They bring experience, objectivity, and specialized skills that can make a significant difference in managing and enhancing your reputation.
Property Management, Real Estate and Property Development Reputation Management Services
At Solv Communications, we specialize in property management, real estate, and property development reputation management. From monitoring reviews to managing media relations, we’ve got you covered. Our team of experts will help you build and maintain a stellar reputation, ensuring your business survives and thrives should any negative situation arise. Reach out today to learn how we can help you protect and promote your property management, real estate, or property development brand.
