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Company: Coldwell Banker Real Estate
Nomination Submitted by: G +S communications
Company Description: The Coldwell Banker brand is the oldest and most established residential real estate franchise system in North America. More than 115 years later, the Coldwell Banker network is continuously recognized for its innovation and leadership across 3,000 offices in 49 countries and territories.
Nomination Category: Corporate Communications, Investor Relations, & Public Relations Categories
Nomination Sub Category: Communications or PR Campaign of the Year - Corporate Communications
 Nomination Title: Coldwell Banker Real Estate survey reveals consumer sentiment during hot housing market
- Which will you submit for this nomination, a video of up to five (5) minutes in length about the nominated PR campaign or program, or written answers to the questions? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Specify the date on which this campaign or program was launched:
The Fall Survey Part I was launched on November 17th, 2021, and the Fall Survey Part II was launched on December 7th, 2021.
- If you are providing written answers for your submission, you must provide an answer to this second question: Describe the genesis of the nominated campaign or program: the reasons it was initiated, the challenges it was created to address, the problems it was developed to solve, etc. (up to 250 words):
Total 216 words used.
A combination of pent-up demand, low housing inventory and historically low mortgage rates created unpredictability in the 2021 real estate market. As a direct response, Coldwell Banker Real Estate commissioned a consumer survey to explore homeowners' plans and concerns to sell amid this fast-paced market. Driven by the sheer demand in the housing market combined with media and consumer appetite for insights into the 2021 selling season, this survey sought to answer: Are people still hesitant to buy/sell? Are they more confident in the current market? Will they gain confidence in 2022?
In asking these questions and more, the campaign would provide: 1. home sellers with fresh data on consumer sentiment – i.e., this is what home buyers want – therefore equipping them with guidance on listing their homes / navigating the market, 2. the Coldwell Banker brand with insights to better reach consumers and, more specifically, potential home sellers, 3. Coldwell Banker Real Estate affiliated agents with insight to better inform their clients, and 4. media with data to better write stories with more insight into the real estate market. Furthermore, the survey was designed to set up the launch of a new brand website in 2022, with data revealing what consumers look for from a real estate website when searching for their dream home.
- If you are providing written answers for your submission, you must provide an answer to this third question: Describe the development of the campaign or program: the planning process, the goal setting, the creative and media development, the scheduling, etc. (up to 250 words):
Total 250 words used.
The fall 2021 housing market closed out a record year for U.S. real estate. With most real estate research focusing on home buyers, Coldwell Banker’s PR team flipped the script to focus on sellers (and potential sellers), fulfilling Coldwell Banker's goals and the needs of reporters for data-backed stories to tell. This campaign (survey, press releases and other accompanying materials) had four main goals:
- Gauge consumer sentiment on fall market to help shape PR tactics for EOY + 2022, including sponsored content
- Gain media attention
- Inform the Coldwell Banker website revamp to help consumers dream of their perfect home
- Reinforce Coldwell Banker as the brand whose agents have been guiding consumers through the process of selling a home since 1906
The consumer survey aimed to identify consumer sentiments in the fall market and into the new year. Alongside the data, we pitched CEO Ryan Gorman to share expertise with national business, top-tier consumer and real estate trade outlets. When pitching in local markets, we promoted Coldwell Banker-affiliated agents as trusted advisors to help people sell homes in the communities they serve.
The original plan for the survey was to be one comprehensive release, but once the team received the results, we knew there were multiple stories to be told. Pivoting, we broke up the data into two releases:
#1: Focus on the Market Launched 11/15
#2: Focus on Dreams Launched 12/6
Assets Developed: Press release, pitches, media list, blog post, social media assets, survey summary and key findings sheet
- If you are providing written answers for your submission, you must provide an answer to this fourth question: Outline the activities and concrete results of this campaign or program since the beginning of 2020. Even if your initiative started before 2020, limit your response to activities and results since the beginning of 2020 only (up to 250 words):
Total 244 words used.
To explore consumers’ perceptions, Coldwell Banker launched an online survey conducted in October 2021 by Harris Poll among 2,000+ U.S. homeowners.
Findings include:
- 41% of employed Americans would take a pay cut or accept a new job with a lower salary to move to a more affordable location
- 82% of unmarried Americans would rather invest in a home than pay for a big expensive wedding
- 47% of respondents who are renters say “owning a home” is an important financial goal
- Top features consumers want in a real estate website: a feature that would give them an estimated sale price for their home (39%) and a feature that would let them compare the cost of living in different zip codes (37%).
The survey showed high consumer desire for homeownership and gave insight into the motivations of potential sellers during one of America's most limited inventory years, paving the way for creative solutions.
This campaign received 60+ national and local hits, including in Business Insider, MarketWatch, GlobeSt.com, and Fox Business, which was syndicated by seven local affiliates. Breaking the survey into two parts garnered multiple coverage hits in Realtor Magazine, Agent Magazine, ABC4 News, NEXT Mortgage News, and RISMedia – showing just how hungry media are for this type of data!
The campaign accumulated 392 million+ impressions, showing the longevity our survey had in a critical period for home sellers, and positively positioned us for a successful website launch campaign in 2022.
- Optional: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 17 words used.
The attached document displays a screengrab of the top national and local hits that the survey received.
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