Daily Archives: July 8, 2020

Berkshire Hathaway HomeServices Showcases Industry Leadership by Automating Digital Advertising During Pandemic, Enters Multiyear Relationship with Adwerx

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Popular program has delivered strong ROI for the leading franchisor, who will build on proven success by expanding its use of the Adwerx Enterprise Automation Platform

Irvine, CA and Durham, NC – July 8, 2020 (PRNewswire) In May of 2019, theBerkshire Hathaway HomeServices Automated Advertising Program powered by Adwerx Enterprise launched to the franchise system’s nationwide network of over 50,000 real estate agents, giving every network member access to a suite of digital advertising services as part of a system-wide initiative to build theBerkshire Hathaway HomeServices brand. The company and its network experienced tremendous financial return using the Adwerx Platform, with both new agents and top producers winning more listings as a direct result, according to the Berkshire Hathaway HomeServices leadership team.

Since launching in 2019, Adwerx has delivered strong ROI for the leading franchisor, who will build on proven success by expanding its use of the Adwerx Enterprise Automation Platform.
Since launching in 2019, Adwerx has delivered strong ROI for the leading franchisor, who will build on proven success by expanding its use of the Adwerx Enterprise Automation Platform.
The Berkshire Hathaway HomeServices Automated Advertising Program powered by Adwerx Enterprise provides a comprehensive digital marketing solution for network members.
The Berkshire Hathaway HomeServices Automated Advertising Program powered by Adwerx Enterprise provides a comprehensive digital marketing solution for network members.
Since launching in 2019, Adwerx has delivered strong ROI for the leading franchisor, who will build on proven success by expanding its use of the Adwerx Enterprise Automation Platform.
The Berkshire Hathaway HomeServices Automated Advertising Program powered by Adwerx Enterprise provides a comprehensive digital marketing solution for network members.

Now, one of the world’s leading franchisors of real estate brokerage services has announced that it is extending its program from Adwerx, and will continue to provide all 50,000 network members with access to personalized streaming television commercials, a one-week automated, personalized listing ad campaign for every new listing and always-on retargeting campaigns on social media, mobile apps and premium websites that consumers and potential home buyers visit regularly.

In addition, the program has expanded to include specific services for franchisees and their top agents. Each franchisee will benefit from their own streaming TV commercials, hyper-local display ads to use for recruiting and brand building, and quarterly workshops with dedicated marketing consultants designed to help network members at each franchised brokerage take full advantage of the program.

Top network agents also now have access to a solution that has been tailored to their business with the launch of the new Berkshire Hathaway HomeServices FOREVER Agent Platform. This new service co-created with Berkshire Hathaway HomeServices’ global headquarters team, will offer network members a customized platform designed specifically with top producers in mind. Offering a suite of custom ad solutions and white glove service, the platform automatically creates and launches ads across the digital landscape, including personalized streaming TV commercials to use in hyper-local campaigns. Every Berkshire Hathaway HomeServices FOREVER Agent Platform customer also receives a dedicated account representative that acts as a concierge to help build the perfect marketing mix, custom fit to the needs of each individual.

The move comes as brokerages across the country have announced layoffs and cost cutting in response to the COVID-19 pandemic. Recognizing the importance of a digital marketing strategy especially amidst economic volatility, Berkshire Hathaway HomeServices is making a long-term commitment to provide their network members with a comprehensive digital solution that maximizes the visibility of property listings, and keeps network members top-of-mind with anyone who visits their web pages.

“Based on Adwerx’s proven ability to increase agents’ productivity by 35%, and the personal success we’ve had this past year, serving nearly a billion impressions for our brand and our franchisee’s agents’ brands collectively, we’re committing right now to expanding our relationship,” Chris Stuart, CEO of Berkshire Hathaway HomeServices announced. “We’ve customized our Automated Advertising Program with Adwerx to give our franchisees and network members a service that fuels their business, and added all of our content so that our network members can create their very own TV commercials. These streaming TV commercials, which are built off of our campaigns but personalized to feature each network members’ photo and contact details, are going to be really important to our relational marketing efforts,” Chris continued. “Our network members’ digital and streaming efforts will be on fire with this new relationship with Adwerx.”

“We’re thrilled that the team at Berkshire Hathaway HomeServices has realized positive, measurable results with our platform,” said Jed Carlson, CEO of Adwerx. “We’re proud to work with a company of such caliber. It’s an exciting time for all of us as we roll out the expanded franchisee services and Berkshire Hathaway HomeServices FOREVER Agent Platform, but our focus will remain on empowering the tens of thousands of network members we have the privilege to support.”

Since its launch in 2017, the Adwerx Enterprise Automation Platform has seen rapid adoption among the nation’s most innovative brokers and lenders. They’ve recentlyadded Prosperity Home Mortgage, anotheraffiliate of HomeServices of America, to their growing portfolio of mortgage customers. With the recent publication of landmark research studies fromT3 Sixty andREAL Trends highlighting the positive ROI of their platform, Adwerx is well positioned to help forward-thinking enterprises succeed during periods of uncertainty.

About Berkshire Hathaway HomeServices
Berkshire Hathaway HomeServices is one of the world’s fastest-growing residential real estate brokerage franchise networks, with more than 50,000 real estate professionals, nearly 1,500 offices throughout the U.S., Canada, Europe and the Middle East, and more than $119 billion in real estate sales volume. The network, among the few organizations entrusted to use the world-renowned Berkshire Hathaway name, brings to the real estate market a definitive mark of trust, integrity, stability and longevity. Visitwww.berkshirehathawayhs.com.

About Adwerx
Used by over 25% of the top brokerage firms and over 15% of the top mortgage originators in the U.S., Adwerx delivers personalized, omnichannel brand marketing and automation at enterprise scale. Deliver customized ads programmatically across streaming TV, popular websites, Facebook and Instagram, and mobile apps. Drive growth through digital marketing automation that increases brand visibility, boosts productivity by 35 percent and reduces turnover by 42 percent.

Adwerx works across the U.S., Canada, and Australia. Learn more about Brilliantly Simple Digital Advertising at adwerx.com and visit our press page for other news announcements.

NAR members receive 15% additional impressions on Adwerx campaigns, which can be combined with other eligible discounts. This exclusive benefit is available through the National Association of REALTORS®’ REALTOR Benefits® Program.

SOURCE Adwerx

High-End Listings are Surging After a Sharp Spring Tumble

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– In a sharp reversal from spring, new listings of high-end homes surged in June to near-normal levels, while a drought of more affordable inventory continues

– In June, new listings of the most expensive homes were only down 9% from a year ago — a huge recovery from May, when those listings were down more than 50% year over year.

– New listings for the most affordable homes remain depressed, still down 29% from a year ago and only three percentage points up from this May.

– The spike in new listings of high-end homes helped cause the median list price to jump nearly 3% from May to June.

Seattle, WA – July 8, 2020 (PRNewswire) A rush of high-end homes hit the market in June, reversing a trend that saw them drop the farthest and fastest when the coronavirus pandemic hit earlier this year.

In April and May, new listings of the most expensive homes slowed severely, dropping by about half compared to the year before, while listings of the least expensive homes dropped by less than a third. At the time, the split was attributed to sellers with higher-priced homes having more flexibility in their decision to list, with many waiting to see what effect the pandemic might have. 

Zillow logo (PRNewsfoto/Zillow Group)

Buyer demand has continued to be strong, with home values holding steady and homes being snatched off the market even more quickly than last year. So in June1, sellers of high-end homes — generally around double the value of the median home in large metros2 — dove back into the market and new listings for expensive homes soared, now down only 9% from last year.

Meanwhile, new listings of the most affordable homes have not seen the same jolt — they’ve recovered slightly, but still are 29% below last year’s level. That means listings of more affordable homes have seen a recent increase of about three percentage points, while high-end listings jumped almost 40 percentage points since May. This reversal may show that sellers are not returning to the market equally — likely explained by widespread unemployment, decreased market activity, and other financial constraints that present challenges for both buyers and sellers at the bottom of the market.

The national trend is echoed in many large markets across the country, with some metros  — including San Francisco (up 33.5%), San Jose (up 27.3%) and Miami (up 13.1%) — seeing new listings for the most expensive homes easily surpassing last year’s levels. Denver is the only large market where listings of the most expensive and the most affordable homes are both up from last year, 4.4% and 4.9% respectively.

“The way unemployment has hit in this recession — with more layoffs in service, retail, food, entertainment, and other jobs unable to be done remotely — could result in vastly different experiences on either end of the housing price spectrum,” said Zillow economist Jeff Tucker. “Millions of Americans who lost jobs or income are only able to stay in their homes right now thanks to extraordinary forbearance programs, which means they likely have to pause their plans to trade up or move to a new city. But for wealthier homeowners whose employment has remained stable and are looking to trade up, now may be an opportune time to sell and lock in a record-low mortgage rate on their dream home.”

The recent composition change in listings has contributed to the sudden increase in list prices. While list prices remained soft through May — likely because new listings for affordable homes outpaced high-end homes — Zillow’s most recent data shows median list price is starting to accelerate. Median list price is now at $337,160, a 0.6% increase from a week ago and 3.8% higher than this time last year.

Although high-end listings have seen an increase, new listings still remain below normal levels, and fell 5.1% from last week. Total inventory also is down — 0.7% from last week and 20.7% from last year. Zillow is only beginning to see a slowing in home value growth, unrelated to the composition effects of new listings, and the current forecast expects home prices to fall very slightly through October 2020.

Metropolitan Areas*New
Listings –
YOY
Change
(Top Fifth)		New
Listings –
MOM
Change
(Top Fifth)		New
Listings –
YOY
Change
(Bottom
Fifth)		New
Listings –
MOM
Change
(Bottom
Fifth)		Median
List Price		Median
List Price –
MOM
Change
United States-9.2%8.4%-29.2%-9.3%$337,1602.9%
New York, NY2.7%14.8%-21.2%12.5%$599,2000.3%
Los Angeles-Long Beach-Anaheim, CA-10.6%1.5%-19.1%-2.4%$912,5154.2%
Chicago, IL-6.8%45.9%-26.0%-5.5%$343,7762.8%
Dallas-Fort Worth, TX-15.5%7.4%-28.0%-18.6%$353,8002.0%
Philadelphia, PA-2.4%19.3%-21.3%-7.2%$333,0745.2%
Houston, TX-9.4%7.3%-27.4%-10.7%$332,4542.2%
Washington, DC-11.8%20.8%-32.7%-18.9%$548,1264.1%
Miami-Fort Lauderdale, FL13.1%13.7%-7.7%7.0%$398,9800.8%
Atlanta, GA-16.0%15.7%-34.4%-1.0%$344,6603.2%
Boston, MA-11.3%2.8%-35.3%5.4%$638,2023.4%
San Francisco, CA33.5%8.5%-18.2%8.0%$993,6004.8%
Detroit, MI-7.1%21.5%-1.3%3.6%$279,7509.6%
Riverside, CA-20.8%-5.9%-25.6%-15.6%$443,7603.4%
Phoenix, AZ-1.4%1.3%-35.9%-35.4%$393,2123.8%
Seattle, WA-24.5%14.1%-43.2%-31.9%$667,7701.7%
Minneapolis-St Paul, MN-5.7%10.4%-27.5%15.3%$381,1400.6%
San Diego, CA4.9%14.4%-24.9%-21.7%$800,5805.3%
St. Louis, MO-20.0%22.1%-30.4%-9.5%$263,5502.4%
Tampa, FL-1.5%14.0%-16.7%-5.9%$296,2783.0%
Baltimore, MD8.6%11.0%-21.4%4.5%$367,7602.9%
Denver, CO4.4%1.8%4.9%-5.5%$544,7802.3%
Pittsburgh, PA-4.7%-15.6%-27.5%-40.8%$222,7408.2%
Portland, OR-25.9%23.1%-39.4%-29.3%$497,4242.6%
Charlotte, NC-21.1%16.3%-24.3%-13.3%$372,8003.4%
Sacramento, CA2.2%15.5%-30.7%5.0%$535,5831.9%
San Antonio, TX-5.6%18.3%-17.5%1.5%$299,5152.3%
Orlando, FL-4.6%25.6%-22.6%-7.6%$323,7981.9%
Cincinnati, OH-10.5%24.0%-19.4%19.2%$335,9205.0%
Cleveland, OH2.4%33.5%-31.5%-16.1%$217,7404.7%
Kansas City, MO-2.5%1.9%-24.4%6.4%$369,6802.7%
Las Vegas, NV8.6%14.9%-36.1%18.4%$333,2442.0%
Columbus, OH-27.3%7.8%-28.4%-7.4%$348,9764.2%
Indianapolis, IN-19.7%40.5%-57.1%-39.5%$315,5495.1%
San Jose, CA27.3%0.3%-16.9%-6.3%$1,217,7782.8%
Austin, TX-24.5%-1.8%-32.2%-11.4%$413,3454.5%
*Table organized by market size

About Zillow
Zillow, the top real estate website in the U.S., is building an on-demand real estate experience. Whether selling, buying, renting or financing, customers can turn to Zillow’s businesses to find and get into their next home with speed, certainty and ease.

In addition to for-sale and rental listings, Zillow Offers buys and sells homes directly in dozens of markets across the country, allowing sellers control over their timeline. Zillow Home Loans, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase.

Millions of people visit Zillow Group sites every month to start their home search, and now they can rely on Zillow to help them finish it — with the same confidence, ease and empowerment they’ve come to expect from real estate’s most trusted brand.

Launched in 2006, Zillow is owned and operated by Zillow Group, Inc. (NASDAQ:Z and ZG) and headquartered in Seattle.

Zillow and Zillow Offers are registered trademarks of Zillow, Inc.

1 Zillow’s data is as of June 20, 2020
2 Calculated using the Zestimate for the 90th percentile home in a given metro compared to the 50th percentile home in that metro

SOURCE Zillow