Enter your email address for weekly access to top multifamily blogs!

Multifamily Blogs

This is some blog description about this site

Google Leads Apartment Review Sites, According to J Turner Analysis

Google Leads Apartment Review Sites, According to J Turner Analysis
Apartment resident review volume reached an unprecedented level in Q1 2020, more than doubling the total number reviews posted in the prior quarter (Q4 2019), giving credence to the importance of reviews and ratings. “We have observed that apartment reviews follow the same pattern as the industry leasing seasonality. Given the holiday festivities in Q4, the review volume is generally low, and it picks up again in the first quarter. It climbs up further in the second quarter due the leasing period in various communities nationwide,” explained Joseph Batdorf, president of J Turner Research. These data come from the fourth edition of The Mechanics of Online Review Sites and ILSs produced by J Turner Research. The report is an unparalleled resource on the growth of online reviews, review sites, and Internet Listing Services (ILSs) relevant to the multifamily industry. It offers a quantitative perspective on the progression of online reputation in multifamily. Its analysis originates from the online reputation monitoring of nearly 116,000 properties nationwide across various review sites and ILSs, each month. As of Q1 2020, there are 9,777,352 reviews for the 115,948 properties J Turner monitors, and 86 percent of these properties – 99,579 have at least one review. In this report, all analysis is based on these 99,579 properties. In 2015, it monitored 55,700+ properties. The number of reviews has grown 3.5 times from 2,741,818 reviews in 2015 to 9,777,352 reviews in Q1 2020. Additionally: Number of reviews per property – The average number of reviews per property in 2019......
Continue reading
1248 Hits
0 Comments

ApartmentRatings.com: Critical for Marketing?

ApartmentRatingsChart1 resized 600There are many different opinions about the value of social media in multi-family housing. Readers of this blog should be pretty aware of mine. But the one thing that everyone seems to agree on is that ratings sites are important. There’s a lot of debate about what to do with ratings sites, but everyone seems to agree there’s some “there” there. So I thought it would be a good idea to get a sense of exactly how important ratings sites are. The first step I took was to dig up some research I had done for a client back in February. In it I wanted to identify whether there was a clear “category killer” or whether multiple ratings sites were important. In an admittedly un-scientific way, I just looked at 10 communities in the Washington, DC market. Although this is a limited dataset, I think it makes it pretty clear that apartmentratings.com is the “category killer.” We can talk about Yelp, and we can opine whether Google+ will grow, but at least for right now, it’s clear that we really only have to focus on one rating site. So the next step was to dig into ApartmentRatings.com. Given that I don’t have access to their database, I had to limit my search to the amount of time and energy to manually collect data. So I collected 147 markets over a broad range—small vs large, core vs non-core, sub-market vs SMSA, etc. For this analysis, I focused entirely on counts and penetrations; the notion being that......
Continue reading
6296 Hits
10 Comments