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ERA Franchise Systems LLC
6 Sylvan Way Parsippany, NJ 07054 (973) 428-9700 |
Media contact: Erica A. Erickson
(973) 496-7434 or public.relations@ERA.com |
Incentive-based program provides improved revenue opportunities for brokers
PARSIPPANY, NJ (October 23, 2000) – The Real Estate division of the Cendant Corporation (NYSE: CD) announced today that its Cendant Global Referral Network (CGRN) has introduced a new incentive-based program that allows brokers to receive the full 25 percent referral fee once they close three outbound referrals in the calendar year. The new program begins with broker referrals that close beginning January 1, 2001.
"The Cendant Global Referral Network is a valuable tool used by its members to search for quality brokers, and send and receive quality referrals," said W. Bruce Wallin, president of Cendant Mobility Broker Services. "Combining this new fee program with the existing benefits of CGRN makes the network the clear choice for brokers eager to increase efficiency, conversion rates, and revenue." CGRN is an Internet-based broker referral network that links most of the 8,000 real estate offices franchised by Cendant under the Century 21®, Coldwell Banker® and ERA® brand names. Launched in early 1999, CGRN gives eligible brokers' offices instant electronic access to each other through the Internet. With a user-friendly interface and vital performance-related data on participating brokerages, network users can effectively send, receive and track referral business. CGRN provides members with information such as participating broker profiles and local market information from any PC with an Internet connection. It enables brokers to search among Cendant's franchise systems to select a broker and place referrals. CGRN, in turn, automatically processes the referral and tracks its progress toward closing.
About Cendant Corporation
Cendant Corporation is a global provider of consumer and business services. Cendant's core competencies include building franchise systems, providing outsourcing solutions and direct marketing. As a franchiser, Cendant is the world's leading franchiser of hotels, rental car agencies, tax preparation services and real estate brokerage offices. Cendant's Real Estate Division includes: nearly 12,000 residential real estate offices and more than 200,000 sales associates operating under the CENTURY 21®, Coldwell Banker®, and ERA® brand names; Cendant Mobility, a global leader in corporate and government employee relocation with over 2,000 corporate clients; Cendant Mortgage, the 6th largest retail mortgage originator in the United States, according to Inside Mortgage Finance, with $25 billion in loans closed in 1999; move.com, Cendant's relocation, real estate and home-related services portal on the Internet; and Welcome Wagon, the nation's most extensive neighborhood greeting service. In addition, Cendant Internet Group is aggressively pursuing a convergence strategy for the Company's off-line and online businesses. Headquartered in New York, NY, the company has nearly 28,000 employees and operates in over 100 countries. More information about Cendant, its companies and brands may be obtained by visiting our Web site at www.cendant.com or by calling 877-4INFO-CD (877-446-3623).
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