The Elite1% Success Stories – Key Learnings with Turner Batdorf and Marcus Armstrong

July 17, 2024
In January 2024, the Elite 1% ORA Power Ranking of multifamily properties with the best online reputation in the nation will be announced. In this podcast, Turner Batdorf and Marcus Armstrong discuss this prestigious ranking and what properties who aspire to be featured in it can do to increase their ORA score. Listen in to hear their insights on the importance of transparency, decreasing negative feedback, and training team members to communicate effectively.
 The Elite1% Success Stories – Key Learnings with Turner Batdorf and Marcus Armstrong

 

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“You cannot have good online reviews if your residents aren’t satisfied.”

In this episode, Mindy chats with Turner Batdorf and Marcus Armstrong about the upcoming Elite 1% ORA Power Ranking to be announced in January 2024. This ranking features the top properties in the country for online reputation as determined based on their ORA scores as of December 2023.

Turner and Marcus begin by breaking down the essence of the ORA score, explaining that it is based on a property’s lifetime star rating and volume of reviews –essentially providing a snapshot of their online reputation. They acknowledge that a common misconception is that properties need to accumulate more and more 5-star ratings, when in reality, the key to a great online reputation score is having very few 1- and 2-star reviews.

Turner and Marcus also highlight trends that impact a community’s success in achieving resident satisfaction. They emphasize the importance of clear and consistent communication, noting that residents often turn to online reviews when they don’t feel they are being communicated with. Conversely, residents feel satisfied—even when their concerns are not immediately resolved—when teams keep them informed of their efforts and progress. Another trend centers around praise for maintenance service—as residents are spending more time in their units, they truly appreciate the efforts and support of the maintenance team.

Mindy, Turner, and Marcus conclude their conversation by highlighting nuggets of wisdom that leaders can take away from the previous Elite 1% success stories. They note the importance of training for team members when it comes to transparently communicating about lease terms, policies, financial matters, and maintenance. It is imperative that teams employ an operational focus to reduce 1- and 2-star ratings by understanding what residents are saying in their reviews and making a plan for what they can change in order to improve resident satisfaction.

Are you ready to build a better comunity with happier residents?