Expands depth of benchmarking data and enhances AI Revenue Management
RICHARDSON, Texas, (October 29, 2020) — RealPage, Inc. (NASDAQ:RP), a leading global provider of software and data analytics to the real estate industry, announced the integration of Online Reputation Assessment (ORA™) Scores into its Performance Analytics Benchmarking and AI Revenue Management solutions. ORA™ scores from J Turner Research are the industry gold standard for measuring and benchmarking the online reputation of multifamily properties and companies.
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With this relationship, RealPage has exclusive rights to incorporate ORA™ scores into its various solutions, benchmarking tools, and algorithms to improve the accuracy of revenue management and marketing models. J Turner Research has proven that higher ORA™ scores correlate directly to high demand generation and higher closing ratios when compared to lower ORA™ scores.
“The ability to fully understand the impact of online reviews is essential to unlocking property yield, and ORA™ by J Turner Research is the undisputed leader in evaluating online reputation,” said Jon Pastor, SVP of Consumer Solutions at RealPage. “RealPage is delighted to combine the power of ORA™ with our leading solutions, Performance Analytics and Benchmarking and AI Revenue Management. All with the goal of improving property revenue and overall asset performance, giving our customers an advantage, and allowing them to continually outperform their competition.”
J Turner compiles review data from a variety of multifamily-specific internet sources, including GoogleÒ, FacebookÒ, Rent.comÒ, Modern Message and other popular review sites to calculate an ORA™ score between 0-100 on more than 122,000 properties nationwide monthly. A property’s score is benchmarked against all multifamily properties so that they know where they stand compared to the national average. Among other benefits, the ORA™ score can be used to benchmark against competitive properties and address weak spots in customer service, facilities, and amenities.
Customers that sign up for the J Turner Research ORA™ program can conveniently review performance at the property and portfolio level in a dashboard designed for owners and managers.
“Online reputation is a solid barometer of how renters judge a property’s customer service. Today, the ORA™ score has become a game changer in how multifamily companies measure and evaluate their properties’ cumulative reputation across a universe of review platforms. RealPage’s interest in integrating ORA™ scores with their revenue management platform is a strong indication of the value these scores bring to the industry. We are very excited to take this unique data partnership forward and are confident that it will offer a new level of insight for all multifamily owners and operators,” said Joseph Batdorf, President of J Turner Research.
The number of online apartment reviews has grown more than three and a half times over the past five years, from 2.7 million total reviews in 2015 to nearly 10.4 million as of Q3 2020—underscoring the degree to which consumers increasingly create and consult reviews as the primary means of judging the quality of a product or service.
“A property’s online reputation is indicative of its ability to attract prospects and retain residents, and those properties with higher ORA™ scores have a lead conversion rate of 4 points better than those with low ORA™ scores, based on a recent case study,” Batdorf adds.
RealPage provides a technology platform that enables real estate owners and managers to change how people experience and use rental space. Clients use the platform to gain transparency into asset performance, leverage data insights and monetize space to create incremental yields. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves approximately 19 million units worldwide from offices in North America, Europe and Asia. For more information about RealPage, please visit RealPage.com.
About J Turner Research
J Turner Research is the leading full-circle online reputation management firm exclusively serving the multifamily industry since 2012. Using its unique, 360-degree process encompassing surveys and a reputation management platform, clients are able to enhance resident satisfaction, increase closing ratios and improve their online reputation. J Turner is the pioneer of the Online Reputation Assessment (ORA™) score, which serves as the industry standard for measuring a property’s online reputation. The company analyzes the online reputation of over 122,000 properties across the U.S. For more information, please visit J Turner Research.