Coldwell Banker is launching an effort that features an unveiling of its refreshed web site and three new products.
The real estate company is offering CB Estimate, Move Meter and the Seller’s Assurance Program tools to help educate homeowners.
Despite the current seller’s market, nearly half of American homeowners (46%) are unsure of the current value of their home. That number increases to 52% among Gen Z homeowners and 54% among millennial homeowners, according to a recent survey the realtor conducted with the Harris Poll of 2,000-plus U.S adults.
The new CB Estimate tool aims to make it easier to find out what a home is worth with a free and instant online estimate. The Move Meter tool also helps kickstart the process of a home evaluation.
With more Americans willing to take a pay cut to move to a more affordable location, the realtor saw a need for tools that let them dream differently, says David Marine, CMO of Coldwell Banker Real Estate.
“Our campaign is called ‘Dream’ and the creative encourages homeowners to do just that, but it also pays it off with some new seller-focused tools on coldwellbanker.com,” Marine tells Marketing Daily.
What came out of the past two years was an incredibly hot real estate market, but also a glaring issue that there simply wasn’t enough inventory to meet demand, he says.
“We know there are sellers out there that want to upgrade or downsize or something between, but they are on the fence,” he says.
So the real estate company implemented a seller-focused strategy to uncork the pent-up demand it believes is in this current housing market.
“Getting people to move from the place they’re most comfortable is no easy task," he says. "So we wanted to get homeowners to dream about what’s possible. With remote work an option for so many and the country opening back up, there’s never been a better time to go to the place you’ve always dreamed of, whether it’s a place where remote work is really remote or just moving closer to the grandkids.”
More than a third (39%) of Gen Z (age 18-25) and 41% of millennials (age 26-41) say they are much or somewhat more likely to think about pursuing their dreams (e.g., making a housing move, pursuing a passion project, making a career change, expanding family) after experiencing the COVID-19 pandemic.
“The pandemic changed some aspects of media with the surge in streaming, and the fact that early on some media outlets that we wouldn’t ordinarily focus on, like cable news, all of a sudden became really efficient regardless of daypart,” Marine says. “But the biggest impact the pandemic had on marketing was showcasing the power of authenticity in your advertising message.”