Key Takeaways
- Brand risk falls into four categories: reputational, compliance, competitive, and operational.
- The reputation management system covers monitoring, response protocols, proactive review generation, and crisis planning.
- Respond to negative reviews within 24 hours—acknowledge concerns and offer offline resolution without arguing publicly.
- Legal brand protection (trademark, domain, social handles, copyrights) costs $2K-$5K and protects substantial brand equity.
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Test Your Knowledge
1.What are the primary categories of brand risk in real estate?
2.Why is reputation management more critical in real estate than in many other industries?
3.What is the first step in brand risk management?