Re-Branding of GMAC Home Services
May 19, 2009
John Bearden, President and CEO of GMAC Home Services, is visiting Brokerages around the country. Wayne Long caught up with him at Shepherd Brokers.com in Phenix City AL last week.
Mr. Bearden is speaking to brokerages to get feed back about creating a new brand for the company. GMAC Home Services has been purchased by Brookfield Asset Management Company (owner of Royal LePage) and now has the task of keeping the best parts of GMAC Home Services while at the same time creating a new brand that will be recognized worldwide.
Mr. Bearden recognizes that the X and Y generations present new challenges to Realtors as they search for homes. They search differently and ask different questions than other generations have. The new brand will have to be prepared for the changing market place. For this reason new technologies will be vital to the new brand and with this in mind the company is now comparing technologies that they want to pursue.
Another point delivered by Mr. Bearden is the continuing reduction in commission percentages. He said that in 2001 commissions averaged 5.9% with a steady decline to 4.7% in 2009. One of the challenges of re-branding the company is to be able to show clients the value of our services and how we earn our commissions.
The new brand should launch in the fall of 2009 or by the 1st quarter of 2010. Mr. Bearden said that they wanted to hurry to release all the new aspects but that they only have one chance to really get it right!
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[...] is a pivotal time for GMAC Real Estate as they will be re-branding themselves in the near future to distance themselves from their former parent company [...]
I do remember when GMAC Real Estate was a big player in Manitowoc WI. Not anymore, the company has since branded themselves as an independent brokerage, that is still doing very well. It is also interesting to note the drop in commission. I have seen in my area that commissions are remaining steady around 6% or higher. I personally have quoted higher commissions and lower listing prices and still have no trouble listing and selling properties. GMAC maybe needed more focus on Realtor training.