February 04, 2016
GoldenKey Explodes Real Estate Commissions
DURHAM, N.C. – February 4, 2016 — GoldenKey, a venture-backed technology company based in Durham, today launched a television commercial and digital advertising campaign that takes direct aim at inefficiencies within the $1.7 trillion U.S. residential real estate industry.
“We built GoldenKey to revolutionize the way people buy and sell homes. Our on-demand, no commission model allows consumers to buy or sell a home for a low, flat fee, instead of paying unreasonably high real estate commissions to brokers and middlemen,” said Tommy Sowers, CEO and Founder of GoldenKey. “The commission-based real estate market is highly inefficient and ripe for disruption. We are giving consumers the option to pay a low, flat fee instead of thousands, even tens of thousands of dollars, in commissions.”
Sowers added, “Our model blows up the traditional commission real estate model. We felt it was only appropriate for our first television commercial to do the same thing.”
In the commercial, which airs for the first time on Thursday night during a Super Bowl preview program on WRAL, a home buyer and seller trying to complete a transaction are separated by a giant glass barrier emblazoned with the words “Real Estate Commissions.” The GoldenKey logo explodes through the glass barrier to dramatically illustrate the GoldenKey model. The six-figure plus ad buy will cover not only broadcast but cable and digital media in the run up to the spring real estate buying season.
Sowers said the idea for GoldenKey came to him when he moved to Durham after accepting a position at Duke University. Sowers found a home he wanted to buy but got frustrated when he was forced to hire a real estate agent and pay a substantial commission to complete the transaction, when he did most of the legwork. Sowers consulted his cousin Shayne Sowers, a successful real estate agent. After a few weeks of discussion and bringing on a third co-founder Narayan Krishnan, GoldenKey was born.
During the last year, the team raised $1.6 million in venture capital, built the technology behind the website, recruited over 800 fully-licensed real estate agents in 36 states and executed over 100 transactions. GoldenKey has already saved consumers tens of thousands of dollars in real estate commissions.
While this is the company’s first foray into mass advertising, Sowers previously oversaw the development and execution of two multi-million dollar multi-channel media buys. “The conventional strategy for a technology startup is to only advertise online. When I ran for Congress and as Assistant Secretary of the Department of Veterans Affairs, I witnessed the power of television to tell a story an entire community. We are excited to get the word out to home buyers and sellers across the Triangle.”
About The GoldenKey Commercial:
Written and Produced by Fletcher Rowley, Inc. and the GoldenKey Creative Team
Voiced by world-renowned voice actor Alan Blevis
Computer Graphics by Magnetic Dreams
Link to GoldenKey Commercial: www.goldenkey.com/super-bowl