Real estate franchisor Re/Max LLC has rolled out a loyalty program for agents and clients.
The program, Re/Max Rewards, is powered by loyalty platform provider Next Jump. The program gives both the agents and clients of Re/Max affiliates access to discounts from more than 30,000 merchants that provide a variety of products and services, such as dining, travel, furnishings, appliances and electronics.
Agents can offer their clients access to the program’s password-protected site at any time, whether before, during or after a home purchase. The discounts are not contingent on a home sale, and once clients sign up they are members indefinitely, Re/Max said. The program is free to both agents and clients.
"The average family spends over $2,500 after they list their home, and again when they move into a new home. The program is designed to help them save on these purchases," said Mike Reagan, Re/Max senior vice president, business alliances, in a press release.
Users can also earn rewards points, called WOWPoints, each time they make a purchase. One hundred WOWPoints are worth $1 toward later purchases. Re/Max associates receive 500 WOWPoints for every referred client’s initial purchase.
Since its inception about two weeks ago, more than 13,000 Re/Max associates have registered for the program, according to an announcement.
Another rewards program, Reward Realty, also recently launched. The program is point-based, with clients of participating brokerages receiving points at closing equal to the sale price of a home. For example, someone buying or selling a $168,300 home (the national median home price in August per the National Association of Realtors) would get 168,300 points.
"While credit card reward programs require you to make multiple transactions to earn any real rewards, Reward Realty gives you these rewards after only one transaction. We feel that homebuyers and sellers should be rewarded for what amounts to the largest transaction they’ll make in their life," the company said.
Clients may redeem the points up to 12 months after the closing date. The points are redeemable through Reward Realty’s online catalog, with categories that include electronics, home, beauty and fragrance, do-it-yourself, and outdoor living, among others.
A 10-piece cookware set in the catalog is worth 48,799 points and a DVD home theater system is worth 91,163 points, when shipping and handling are included, as examples.
In order to participate in the program, brokerages pay a monthly fee based on the number of agents and transaction volume for each affiliate office, Reward Realty said. The program is available to brokerages in more than 40 states.
"I specifically created this program to provide residential brokerage offices with an innovative way to differentiate themselves from the competition and drive business," said Kevin Codey, Reward Realty’s founder and CEO, in a press release.
"Real estate brokerage offices that partner with Reward Realty are able to market their own brand and set themselves apart by offering their clients tangible, value-add benefits that enhance their home purchase or sale."
