| ERA Real Estate
Kevin Meyer (973) 496-7215 or kevin.meyer@ERA.com |
Contact: Suzanne Lyons/Phillip Pierce
Edelman Public Relations (212) 704-4557/8274 or slyons@edelman.com phillip_pierce@edelman.com |
Parsippany, NJ (April 19, 1999) – ERA Real Estate announced today an exclusive new program for the luxury home market designed to reflect the higher value of these upscale properties and to accommodate the unique demands of their buyers and sellers. The program is available to all ERA brokers and sales associates with qualified properties.
Defining the luxury home market takes expertise. While some properties are undeniably luxurious and appealing to an exclusive clientele, regional variations in real estate values mean that defining luxury homes strictly by listing price does not always reflect market realities. The ERA International Collection has been created with three luxury home categories to address these variations, and within each category the approach is varied to meet the unique characteristics of that niche:
- International Level – These homes and estates have true distinction, attracting both national and international audiences. Typically these are homes priced $2 million and above.
- Premier Properties Level – These homes are the regional luxury properties and list in the top 10 percent of the market in their area.
- Historic Level – A home in this category is truly unique, a one-of-a-kind listing. Qualifying for this category is based on both the price of the home and its distinct characteristics.
"The luxury market is often viewed in the industry as a small percentage of the marketplace, but at ERA we know it is an important segment to serve. There are a many companies throughout the United States who are looking at being part of a franchise with expertise in the luxury market," ERA President and CEO Peter Burgdorff said. "The ability to serve that market is significant in retaining the top agents."
ERA Franchise Systems LLC, a subsidiary of Cendant Corporation (NYSE: CD), is a leader in the residential real estate industry with over 25 years experience in developing consumer-oriented products and services. The ERA Real Estate network includes more than 2,600 independently owned and operated brokerage offices with more than 28,000 brokers and sales associates throughout the United States and 19 other countries and territories. ERA is available to consumers on the Internet at www.ERA.com.
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