After Remarkable Results, the Coldwell Banker Brand to Expand Its RealVitalize Roll Out to National Affiliate Network
Pilot program sees RealVitalize homes sell +25% faster compared to others on the market
MADISON, N.J., Aug. 17, 2020 // PRNewswire // - Coldwell Banker Real Estate LLC, a Realogy (NYSE: RLGY) brand, today announced the expansion of its successful pilot home improvement program, RealVitalizeSM, to include Coldwell Banker Affiliates. Following a successful beta pilot period, which launched RealVitalize to Coldwell Banker's company-owned offices in 2019, the program also features process enhancements to enable more affiliated agents to sell homes faster and for more money. All Coldwell Banker Affiliates will be invited to enroll in the program in 2021.
RealVitalize provides home sellers with home improvement resources prior to or during the home listing period with no up-front costs or interest charges. Realogy partnered with HomeAdvisor®, a leading digital marketplace that evolves the way homeowners find, connect with, and purchase home services, to provide direct, superior home improvement options to consumers.
To participate, a Coldwell Banker affiliated agent connects their home seller with a dedicated HomeAdvisor project consultant. The consultant manages the project from start to finish by finding experienced, pre-screened service professionals from HomeAdvisor's network to complete the improvements. This allows the agent to focus on marketing and selling the home, and is a huge value add for consumers.
During the pilot program,1 the use of RealVitalize saw:
- Homes sell more than 25% faster compared to other homes on the market
- Homes sell a full 4 percentage points closer to list price
- An average brokerage commission rate 15 basis points higher
- Overall agent satisfaction with the program was 95%
Since its inception one year ago, thousands of listings have been enrolled in RealVitalize. The program is currently available in 29 major markets nationwide in Coldwell Banker company-owned offices, except for Delaware and Rhode Island.
Two Coldwell Banker Affiliates are leading the affiliate pilot program, extending the service area, Coldwell Banker D'Ann Harper in San Antonio, Texas, and Coldwell Banker Distinctive Properties in Grand Junction, Colorado.
"We are more than halfway toward our goal of making RealVitalize available to our entire network of more than 94,000 affiliated agents within the next year who handle a total U.S. sales volume of $240.1 billion, a true advantage that most brokerages can't match. Now, even more consumers will have access to this unique program that can help sell their home faster and for more money."
- M. Ryan Gorman, president and CEO of Coldwell Banker Real Estate
"It is my responsibility as a broker to equip my affiliated agents to be the best trained, and most competitive agents in the market. RealVitalize helps me fulfill that responsibility, and it is rewarding to watch the program succeed for my agents and ultimately for our customers and clients."
- Leesa Harper Rispoli, broker owner of Coldwell Banker D'Ann Harper
"My agents help their clients fulfill their goal of selling for top dollar as quickly as possible. RealVitalize helps make that process easier, freeing up agents to spend more time on productive and meaningful tasks that better serve their clients."
- Todd Conklin, owner and CEO of Coldwell Banker Distinctive Properties
"Right now, we are seeing a fundamental change in the way people think about their homes. Our homes have become the center of our world - allowing us to work, learn, play and live all in one place. As our needs in and around our homes have grown and evolved, we see people moving to meet these new needs. We are excited to see the expansion of this partnership and RealVitalize to more agents and sellers."
- Brandon Ridenour, CEO of ANGI Homeservices. HomeAdvisor is an operating business of ANGI Homeservices (NASDAQ: ANGI).
1Based on pilot program data from company owned Coldwell Banker office locations in specific markets where the pilot program was offered from Aug. 26, 2019-April 1, 2020.
About Coldwell Banker Real Estate LLC
Powered by its network of over 94,000 affiliated sales professionals in 3,000 offices across 43 countries and territories, the Coldwell Banker® organization is a leading provider of full-service residential and commercial real estate brokerage services. The Coldwell Banker brand prides itself on its history of expertise, honesty and an empowering culture of excellence since its beginnings in 1906. Coldwell Banker Real Estate is committed to providing its network of sales professionals with the tools and insights needed to excel in today's marketplace and is known for its bold leadership and dedication to driving the industry forward with big data and smart home expertise. Coldwell Banker Real Estate was the first real estate brand to harness the power of big data; the CBx Technology Suite uses predictive analytics and machine learning to analyze markets, target buyers and sellers and provide agents with a simple platform to create unique and effective marketing plans for each listing. The brand was named among the 2020 Women's Choice Award® Most Recommended brands for customer experience and overall quality. Blue is bold and the integrity and values of Coldwell Banker give the Gen Blue network an unbeatable edge. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.
About Realogy Holdings Corp.
Realogy Holdings Corp. (NYSE: RLGY) is the leading and most integrated provider of U.S. residential real estate services, encompassing franchise, brokerage, and title and settlement businesses as well as a mortgage joint venture. Realogy's diverse brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby's International Realty®. Using innovative technology, data and marketing products, best-in-class learning and support services, and high-quality lead generation programs, Realogy fuels the productivity of independent sales agents, helping them build stronger businesses and best serve today's consumers. Realogy's affiliated brokerages operate around the world with approximately 187,500 independent sales agents in the United States and more than 130,800 independent sales agents in 114 other countries and territories. Recognized for nine consecutive years as one of the World's Most Ethical Companies, Realogy has also been designated a Great Place to Work and one of Forbes' Best Employers for Diversity. Realogy is headquartered in Madison, New Jersey.
HomeAdvisor® is a digital marketplace evolving the way homeowners connect with service professionals to complete home projects. With HomeAdvisor's on-demand platform, homeowners can find and vet local, prescreened home service professionals; view average home project costs using True Cost Guide; and instantly book appointments online or through HomeAdvisor's award-winning mobile app, which is compatible with all iOS, Android and virtual assistants, including Amazon Echo. HomeAdvisor is based in Denver, Colo., and is an operating business of ANGI Homeservices, Inc. (NASDAQ: ANGI).
SOURCE Coldwell Banker Real Estate LLC
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