Being part of an international real estate network, I like keeping track of what Century 21 offices around the world are doing, how they're advertising etc. In particular, one of the most recent undertakings by the Century 21 South Africa group was of special interest as it was such a novel idea.
Recently, Century 21 South Africa ran something they called the Golden Opportunity competition, where basically they gave away two real estate franchises. They have just announced the winners, both of whom will each receive a 10-year Century 21 franchise worth R200 000. That's a pretty significant prize!
The competition targeted strong independent principals, exceptional agents and smaller brands and of course had some very strict guidelines. The winners were selected following a stringent judging process including that included initial assessment, confirmation that the applicant held fidelity certificates and were registered with the Estate Agency Affairs Board, and checks that they have strong market share in their respective areas of operation, strong listings books and sound market reputations.
A competition of this nature is such an interesting way to attract new franchisees to the brand, and the contest resulted in a very strong response across the country. In fact, there was so much interest that the first entry to the competition was received only an hour after it launched. This type of interest in joining an international brand indicates that the view that now is the time to prepare for an inevitable market upturn is a valid one.
Century 21 South Africa also stated that they even had positive responses to the promotion from their competitors who saw the competition as 'giving something back' to the industry at a time when conditions have never been more demanding. Essentially the competition recognized that within South Africa, there are many business people who have the know-how, the business savvy and the acumen to grow their businesses and who are keen to become part of a global brand, but for various reasons, are unable to take up a CENTURY21 franchise in the conventional way. This competition aimed to open the door for these people to a bigger, better world of property marketing, and for the two lucky (and obviously deserving winners) that's exactly what it's done.