ReMax
RE/MAX Canada is a leading real estate brokerage brand with many years in the market. It had the highest performing agents and good marketshare but wasn’t differentiated from key competitors like Century 21, Royal LePage and others. Their success had been fuelled by a unique business model capable of attracting proven agents because they could keep more of their commission and only paid the brokerage fees for services.
Industry
— Professional services
— Real estate
Branding to
— Articulate value
— Grow marketshare
— Attract top talent
Services
— Brand & value proposition strategy
— Advertising & promotion
The Situation
While the brand was performing well there were new brokerage models coming into the market disrupting the traditional commission structures and getting the attention of home buyers and sellers. RE/MAX needed to protect their marketshare which was a significant contributor to their “highest performing agent” brand claim. They asked Yield Branding for help articulating their brand strategy and value in the face of stiffer competition and rampant discounting while maintaining their agents commission margin and the brokerage’s service fee revenue.
Human catalyst
Buyers and sellers of homes believe that the most important role a real estate agent can play is to help them purchase their home at the best possible price and terms.
The Solution
Yield Branding leveraged existing consumer research provided by the client to identify key insights around what buyers and sellers valued most in their agent and client relationship. Armed with these insights, we crafted a comprehensive brand and go-to-market strategy that leveraged several key attributes tied to the brand’s “highest performing” agent positioning. This included the brand/agent’s ability to recognize situational clues during the buying/selling process that would enable them to be in a better negotiating position on behalf of their clients.
This brand strategy led to the articulation of a value proposition that clearly differentiated the brand from the new discount players expressed through a unified and integrated campaign tagline – “A sure sign of the best negotiator.” The creative solution showcased unique situational moments where the RE/MAX agent identified clues that would be used to produce a better buy/sell outcome for the client. We implemented the campaign using a 2-pronged approach that included a consumer-facing, multi-million-dollar mass media branding campaign supported by a B2B agent-facing campaign using grass roots channels and conferences.
The Yield
Yield Branding helped the brand grow its market share by double digits securing its position as the number one real estate brand in the category. We continued to work with RE/MAX for more than 5 years to grow and support the brand’s position in the marketplace.