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As the industry is finding itself up against a tight inventory and the market so competitive, brokerages are offering incentives for clients to work with them.
Realogy hopes to attract more prospects with a new client incentive for customers who might be interested in a “vaxication” as well as a home. Combining the interests in a new home with many people’s desires for an overdue vacation, Realogy launched its Miles from Home Realty Rewards program with American Airlines. The Miles from Home program offers members of American Airlines AAdvantage loyalty program an opportunity to earn 2,000 AAdvantage miles for every $10,000 of the sale or purchase price of a home.
Realogy hopes the program will provide another source to generate more leads to its affiliated agents and brokers. Realogy’s brands include Coldwell Banker, Century 21, Better Homes and Gardens Real Estate, Sotheby’s International Realty, and others.
The miles program is a relaunch of a program that Realogy offered in 1996. “We are strategically relaunching the Miles from Home Realty Rewards Program with American Airlines … to make the most of consumers’ growing appetite for travel and to connect even more highly-interested home buyers and sellers with Realogy-affiliated brokers and agents,” says Katrina Halmkamp, president and CEO of Realogy Leads Group.
Some brokerages are tying their incentives directly to the community. For example, Realty ONE Group launched a program this year, ONE Tree, ONE World, pledging to plant one tree for every home bought or sold by its real estate professionals in 2021. The goal is to plant 111,111 trees. "ONE Tree, ONE World gives us an opportunity to make a direct and significant impact on our communities around the world in more than 111,111 ways," says Kuba Jewgieniew, CEO and founder of Realty ONE Group.