Foxtons Considers Pair of Finalists

NEW YORK Foxtons North America, the real estate company formerly called YHD Foxtons, is down to two agencies in the review for its ad account, the client confirmed, and may split the business.

Marketing manager Niki Petz said the real estate brokerage is in discussions with both agencies, one of which is favored as a direct marketing vendor and the other as a branding shop. Sources said independent New York shop Citigate is in talks with the client to take on the direct portion. Interpublic Group’s Avrett Free Ginsberg in New York and an undisclosed shop were also named as finalists.

DiMassimo Carr Brand Advertising, also invited into the final round, dropped out before presentations, “when we found out the review was going to be based on price,” said managing partner, director of new business development Lee Goldstein.

The account, estimated by sources to be worth $12-15 million, has been in review since April. Petz said the account would be awarded within the next two weeks.

Advertising was previously handled on a project basis, with the last work created by DeVito Fitterman Advertising in New York. The $12 million campaign targeted New York-area commuters during their morning and evening travel hours with drive-time radio buys, subway and commuter train signage, billboards and newspaper ads.

Foxtons promotes a 2 percent commission charge to home sellers in New York, New Jersey and Connecticut.