Terms of the Negotiation with Hot Property, the Chicago-Based Real Estate Firm, Include Cash Settlement and Hot Property Brand Attribution on the New Show
Chicago, IL – October 7, 2005 — Hot Property, a Chicago-based real estate firm led by Chaz Walters, is in licensing negotiations with Warner Brothers Television Production, Inc. (WBTV) to provide rights to use the Hot Property brand name for a new real estate sitcom airing tonight on the ABC network. Hot Property, a trademark established by Walters 10 years ago, has become synonymous with residential real estate in the Chicagoland area.
The negotiations include cash licensing fees and Hot Property’s brand attribution on the comedy show featuring four women working together in a Manhattan real estate office.
Walters learned of the sitcom while at a meeting to discuss advertising and media for his Hot Property brand. Walters initiated licensing negotiations with WBTV approximately two months ago, however, an agreement has yet to be reached and the Hot Property brand is currently under infringement.
“We have spent ten years successfully building the Hot Property brand, and WBTV was very respectful of our position and immediately engaged in licensing discussions with us,” said Chaz Walters, President, Hot Property. “Our brand has recognition and lead generation nationally and internationally although we are currently only focused on the Chicago residential real estate market. We believe that Hot Property will continue to grow and stand for excellence in real estate and this sitcom is another opportunity for gaining widespread brand awareness.”
Following a close to 15 year career at another major real estate franchise and investing millions in marketing his own Hot Property brand, Walters decided to formally open a Hot Property office on the North side of Chicago. Within one year, Hot Property grossed over 200 million dollars in sales and listings and recruited close to 40 agents. The real estate firm will soon be announcing the opening of its second office at a prestigious downtown Chicago location.
Agents throughout the City recognize the successful branding Walters has achieved. One agent recently said “Chaz and the Hot Property brand are truly everywhere. I was at a Hollywood party for my son who is a writer and there were many well known producers, actors and writers at the party. A producer, who has filmed in Chicago, asked me about my profession. When I replied real estate, he immediately acknowledged the most famous real estate personality he could recall in Chicago – Chaz Walters.” He said “I can’t believe that I remember Walters’ name, I don’t even know the man but I always remember his billboards. He is a marketing genius.” Hot Property fields sales calls daily from as far reaching as London.
Hot Property recently launched the “Everywhere” campaign, which includes both billboards and public buses. A representative from the bus advertising company called Walters to inform him of the high volume of calls they are receiving in response to his campaign and the demand for advertising that Hot Property has now created.
According to Cheri Davis, Managing Broker of Hot Property, “With the premier of the Hot Properties show airing tonight, we have received many calls from people in the real estate industry inquiring about the integrity and use of our Hot Property name. We intend to reach an amicable agreement with WBTV to ensure our long-term brand success.”
About Hot Property
Hot Property is a new innovation in the real estate industry led by Chaz Walters. Although the company was recently launched, the Hot Property brand has been marketed since 1995. It stands for success, action and the willingness to go the extra mile. This unique boutique residential real estate office offers an opportunity to be a step ahead of the industry. They provide the latest in technology to each agent and marketing from cutting edge billboards to public relations to advertising campaigns in top Chicago publications.
The Hot Property’s philosophy is to enable agents to reach top levels in performance. Hot Property offers a very bright future for agents who want to get back to the basics and feel empowered to do their job, be part of a driven team and have fun.
Hot Property is bringing together the best of both worlds – the knowledge of established real estate leaders and the brand with the edginess, drive and passion of entrepreneurship.