The subjective rating is no longer as authentic, trustworthy, or transparent as it once was, and — as a result — is expected to lose its power to help consumers make decisions in the future.
When it comes to picking a place to live, renters want ratings and reviews they can trust.
The average user rating of products has become a significant factor in driving sales across many industries, including multifamily.
If you have ever used a rideshare service, dined in a restaurant, or stayed at a hotel, chances are you were prompted to rate the product or service.
Even the busiest property professional knows that access to real-time information has exploded. Smartphone penetration in the U.S. has increased from 20% in 2010 to 69.6% in 2018, and internet usage has doubled to nearly 300 million users since 2001, according to Statista research.