More on Matrix Real Estate
Today I had a chance to talk to Kate Miller from the Fearey Group who is doing PR for Matrix Real Estate. She clarified a few points:
- They’re keeping the Williams Marketing and MCM brand names
- They’ll be referring to themselves as “Matrix powered by Williams Marketing” or “Matrix powered by MCM”
- Think of MCM as the suburban brand and Williams as the downtown one.
- Existing clients will become clients of Matrix
- In terms of who is running things, it’s a 3-way partnership between Leslie, Mike, and Chaun. Chaun will run things on a day-to-day basis
- This is not a retirement for either Leslie or Mike
- They are pooling their resources and merging all their employees together and not losing staff
- This new company will have 61 people
- MCM will be moving to the Williams office in Lower Queen Anne
- Matrix was a name that Leslie has had in mind for a few years and they liked the meaning about how it means to combine two things.
They have a site up now and a Facebook fan page.
What do I think? I think they picked a really bad name. Matrix on it’s own is a very generic name. Even Matrix Real Estate isn’t unique. Just check Google.
While they say this is the merging of two “strong” companies, I suspect this a survival move. Both companies have likely been hit hard by the last year, though I haven’t pulled the sales figures to verify that, and looking forward the pipeline is definitely not what it used to be.
The combined company will be offer more to their developers and condo-buyers, though it will mean less choice and less competition.
What I think the market needs is an upstart condo marketing company that is net savvy and eschews the traditional commission model.