Gallery of Better Red Homes, Carpets and Gardens
Large national brokerage companies have taken anywhere from a decade to a century to build a national brand. On average, many of the current real estate leaders appear to have invested approximately three decades in creating and building national recognition.
Therefore last week’s announcement by Realogy of its licensing the Better Homes and Gardens (BH&G) brand for 50 years from Meredith Corporation, a publishing company that owns about 25 subscription magazines including Better Homes and Gardens, comes as a big surprise to the industry.
There are numerous parties questioning the transaction; whether the deal has merit or whether it will cannibalize the existing Realogy brands. I think these pundits, like before (when RE/MAX launched in 73, when HFS bought Century 21 in 1995, when EXIT launched 1996, etc.), are underestimating the power of innovation and change. There is a lot that can be done with the BH&G brand and it is way too early to speculate its potential place in or impact on the industry – be as it a replacement brand for some existing “worn” Realogy real brand, a new real estate brand targeted towards women or a new online real estate brand.
Betting odds should give determined men with lots of money the benefit of the doubt and Realogy surely has ample amounts of both.
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Filed under: Updated by Carlo