Realogy announced Thursday that it has centralized its lead programs under one roof, yet another example of streamlining and reorganization at the brokerage conglomerate over the past year.
Effective immediately, the move hands the lead generation process at all franchises and Realogy companies to a 500-person team known as the Realogy Leads Group. The Leads Group will be responsible for leads from relocation management companies, mortgage lenders, consumer-based loyalty programs, and other service providers, Realogy said in a statement Thursday.
Realogy’s network is comprised of more than 5,800 franchised and owned brokerage offices and approximately 189,000 independent sales agents across the country. It counts Better Homes & Gardens Real Estate, Coldwell Banker, Century 21, Corcoran Group, ERA, and Sotheby’s International Realty as part of its network.
“Our unmatched size and scale enable Realogy to attract and develop valuable real estate programs with national partners that in turn deliver high-quality, high-converting leads to our affiliated agents,” Ryan Schneider, Realogy’s CEO and president said in a statement. “By bringing together our many lead generation efforts within one aligned team, we believe Realogy can create even more opportunities for our affiliated agents, brokers, partners, and customers.”
Realogy reported $4.2 billion in revenue through the first nine months of 2020. But the conglomerate still lost $378 million during that period, and executives have been under pressure for years to reduce costs. The firm has already consolidated operations at Sotheby’s International Realty and Coldwell Banker. It also streamlined its NRT brand, which is now called Realogy Brokerage Group.
Wading through the lead process can often be overwhelming for agents, a fact that Realogy officials are hoping to alleviate by moving all of its real estate programs – other lead generation initiatives – into one dedicated organization. Prior to the creation of RLG, it was common practice for franchises to seek out multiple lead generation platforms.
Realogy officials expect this new, centralized approach to improve efficiency.
Katrina Helmkamp, current CEO and president of Cartus, Realogy’s global relocation services operations, will also serve as CEO and president of RLG. Helmkamp told HousingWire that it’s more important than ever to provide affiliated agents with high-quality, high-converting leads with a strong intent to purchase or sell a home.
“These national real estate programs help our network of brokers and agents gain market share, even in a hot market,” she said. “While data shows nearly half of consumers begin their home search by looking at listings online, we know that doesn’t necessarily mean they are immediately ready to buy.”