Lowe’s Program for Realtors, a discount program that has been a cornerstone of the Realtor benefits package for several years, will be ending Nov. 6, 2015, at 11:59 p.m.
The benefits included ecoupons, member discounts on gift card purchases, coordinating marketing materials and a magazine subscription called “Creative Ideas” that agents could send to clients.
This announcement on the heel of Lowe’s recent investment in SoloPro, a bundled discount real estate service, might have agents wondering what the home improvement chain giant, which was once a partner in marketing, has planned for it’s future relationship with consumers.
We reached out to Lowe’s and asked why the program was ending. Was it because agents were underutilizing the benefits? Will a replacement program be offered?
“Lowe’s and the National Association of Realtors have mutually agreed to end their relationship, and therefore, Lowe’s will no longer be a Realtor Benefits partner effective Nov. 7,” said Karen Cobb, manager for corporate public relations Lowe’s Companies, Inc. “We’re always evaluating opportunities, but there isn’t a replacement program at the current time.”
Lowe’s is encouraging agents who have databases created within the program to export their data before it is “destroyed” at the end of the program. They have set up a dedicated help desk (888-913-6060) for agents that will be available until Nov. 29, 2015.
The website will be disabled as of November 7. Agents seeking the recovery of information after that point will need to reach out to the help desk after November 7 for further instructions.
The data will export into an Excel-style spreadsheet. The clients signed up for “Creative Ideas” will continue to receive the digital and print publications for free. The company-owned publication will continue at this time.
Tip: When using a third-party database, remember to sync your information on a regular basis using a solid backup that you own and can encrypt for safety.
Many offices, brokerages and individual agents will need to evaluate their marketing materials, personal websites, blogs and other sources to remove the links to these services — office managers and assistants, heads up!
What are other places where this information could be hidden? Old template farming letters, listing presentations, buyer presentations. You name it. If you utilized this tool in your marketing campaign, you might need to regroup. This might signal some package reconfiguring if anyone on your team promotes these coupons to clients.
What are your thoughts? Are you disappointed that this program is ending? Was this a valuable tool in your arsenal, or did you not know this program existed in the first place?
If you are looking for assistance or more information, you can read the full memo here.
By day, Rachael Hite helps agents develop their business. By night, she’s tweeting for listingdepot.com.