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ERA Franchise Systems LLC 1 Campus Drive Parsippany, NJ 07054 (973) 428-9700 |
Media contact: Stacy Quinn (973) 496-7904 stacy.quinn@ERA.com |
Mega-office grows to house 1,300 professionals in Toa Payoh
PARSIPPANY, NJ, February 10, 2003 – ERA Singapore, the flagship franchise of Hersing Corporation Ltd., recently celebrated the grand opening of its 16,000 square foot office in the town of Toa Payoh. With 1,300 real estate sales professionals, ERA Singapore's "mega office" preserves the company's reputation as operator of the world's largest real estate office.
The new facility replaces a 14,000 square foot facility, in Bishan, which had been the world's largest single real estate brokerage office with 1,100 sales associates.
More than 20,000 people attended the grand opening celebration to participate in contests, entertainment and educational seminars. The event also included an exhibit of ERA® real estate products and services and highlights of the company's 20 years of achievement and innovation in Singapore.
The event's guest of honor was Daniel Teo, world president, International Real Estate Federation. Teo was joined by several other honored guests in a guided tour of the office, after which the facility was opened to the public for seminars and workshops on home selling, buying and financing. The sessions were all held in the company's new training center, which will also serve as the regional training hub for ERA brokers in the Asia Pacific Rim.
During the past two decades, the company's stellar reputation has helped make "ERA" a household name in this nation of 4.3 million. A 2001 National University of Singapore survey reported that the ERA name has achieved 95 percent brand awareness among the country's citizens. Today, ERA Singapore commands 25 percent of Singapore's real estate market. The remainder of the market is divided between approximately 2,500 competing companies.
"Our friends at ERA Singapore have successfully integrated ERA systems, products and methodology," says Brenda W. Casserly, president & COO, ERA Franchise Systems, Inc. "With the outstanding professional training and application of innovative technology that are brand hallmarks, ERA Singapore continues to live up to its stellar reputation."
In 2002, ERA Singapore reported a sales volume of $4 billion (approximately $2.31 billion U.S. dollars) and 15,000 transactions. However, it is how that volume is maintained and grown that is unique.
For example, there are hundreds of sales associates, but less than 400 desks – and those must be earned. Only the office's top producers earn the privilege of hanging their hats in permanent workstations. Also, sales associates must have at least one listing to be granted security access to the office.
All sales professionals are provided laptops, cell phones, beepers and personal digital assistants for working outside of the office. The office itself is composed largely of stand-up workstations, each dedicated to a single function, such as listings or MLS access. Sales professionals line up to record and close deals with assembly-line efficiency.
"The constant challenge to produce has resulted in one of the most highly trained and educated sales forces in the world," said Casserly. "At ERA Singapore, incentives for hard work are combined with continued training and educational opportunities."
About Hersing Corporation Ltd.
Hersing Corporation is the umbrella franchisee for all of those Member Brokers, holding master franchise rights for Hong Kong, Indonesia, Japan, Korea, The Philippines, Taiwan, Thailand, China, Australia, New Zealand, Vietnam, Brunei, Cambodia, Laos, Macao, Malaysia, Myanmar and Papua New Guinea.
About ERA Franchise Systems LLC
ERA Franchise Systems LLC is a global leader in the residential real estate industry with more than 30 years experience in developing consumer-oriented products and services. It is a subsidiary of Cendant Corporation (NYSE: CD) and part of its Real Estate Franchise Group. The ERA® real estate network includes more than 28,000 brokers and sales associates throughout the United States and 30 other countries and territories. Each office is independently owned and operated except offices owned and operated by NRT Incorporated. ERA® information is available to consumers at ERA.com. ERA® properties can also be viewed at Realtor.com. For additional information about ERA Franchise Systems, Inc. as well as expert commentary on emerging trends in the real estate industry, visit the Cendant Media Resource Center at http://www.cendant.com/media/.
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