Coldwell Banker Realty prides itself on providing affiliated agents with the best tools to grow their business, bar none. At The Studio, our job is to make sure those tools get utilized, to the fullest extent, by delivering the best marketing support possible. One example: the RealVitalize program.
In today’s real estate market, home inventory is historically low, recently hitting the lowest point since the National Association of REALTORS began tracking it in 1982. It goes without saying that listings are hard to come by, and the advent of new brokerage business models, including discount and online brokers, is making competition even tougher.
To help agents win listings, Realogy (Coldwell Banker’s parent company) created the RealVitalize program. This innovative program lets sellers get work done on their home to prepare it for sale, such as painting, landscaping, appliances, kitchen updates and plumbing. There are no upfront costs and sellers pay for the work at closing. However, agents reported the program was complicated and they struggled to explain it to clients. That’s when The Studio stepped in.
We gained some valuable insights about the program from the initial pilot launch:
- 56% of all homes sold at or above the List Price
- On average, RealVitalize properties sell for 98% of list price – a 2% increase in sales price
With this evidence, we distilled the program down to a very clear and concise benefit to make it easy for agents to explain to clients. We focused on crafting catchy headlines that would immediately convey the program benefit and show its value. One headline immediately jumped out: “Fix It Up With Nothing Up Front,” and was followed by others that put the benefit front and center, “Beautiful Homes Sell Faster” and “Updates Up The Selling Price.” Stunning layouts brought the headlines to life and worked across multiple assets – print, social, postcards and video.
The RealVitalize program is now available in just about every Coldwell Banker Realty market. Our compelling sales materials are helping agents clearly convey the benefits, and today thousands of homes have enrolled in the program. Agents have greatly benefited too:
- Agents earn an average of 10% more dollars in commission
- Listings’ cancellation rates are reduced by 200%
- RealVitalize has a 95% agent satisfaction rate
Doing whatever it takes to help agents live an exceptional life. Just another day at the office for The Studio.