Real estate giant Realogy has selected Omnicom’s OMD as its new media agency after a review that began in February, according to sources. A Realogy rep said the company had no comment.
The company spends about $115 million a year on ads according to Kantar.
Realogy real estate brands include Century 21, Coldwell Banker, ERA, ZipRealty and Better Homes & Gardens, among others.
Incumbent MediaCom, part of WPP, which handled Century 21 and Coldwell Banker, also participated in the pitch. Those two brands accounted for an estimated $25 million of the client's annual ad budget, according to sources. Other incumbents and contenders were not immediately identified.
In late July Realogy reported that second quarter Revenue rose 9% to $1.7 billion, driven by higher home sales. Net income rose 43% to $97 million. Commenting on the results CEO Richard Smith said, "The fundamentals of the housing market continue to gain strength, and our results reflect these improving conditions along with the impact of our strategic growth initiatives."
The agencies declined comment or couldn’t be reached at the time of this posting.