Century 21: Agents of Change

Category: Real Estate
Lead Agency: mcgarrybowen
Media Agency: MediaCom
Client: Century 21



STRATEGIC CHALLENGE

Bubble? What Bubble? Reinvigorating a Brand in a Transition Market

Over the past decade, the real estate market had experienced unprecedented gains driven mainly by record low interest rates, online real estate shopping, and the growing activity among several lucrative segments. That being said, while the bubble hasn't yet burst, the industry is experiencing a slump. From a marketing approach, the market has changed drastically over the past ten years, with the internet replacing the “For Sale” sign and becoming the primary destination for the industry. As a result, competition has increased tremendously. Furthermore, Re/Max (yes, the hot-air balloon brand) has become a formidable competitor and CENTURY 21 had been slipping in market share and awareness due to RE/Max's increased activity and category-dominant media spend.