RE/MAX Named Award Finalist

June 1, 1996

DENVER---RE/MAX International has been selected as a 1996 Inc./MCI Positive Performer Award finalist. RE/MAX is among 40 finalists from nearly 500 competitors.

According to MCI, the Positive Performer awards showcase businesses that demonstrate innovative techniques to identify and exceed customer expectations and are designed for growing companies with annual revenue between $200,000 and $100 million.

RE/MAX was cited for providing its member brokers with training through its satellite television network.

Century 21 Reports Strong Franchise Growth

PARSIPPANY, N.J.---HFS Inc., parent company of Century 21 and ERA, reported Century 21 franchise sales of 100 offices for company-owned regions during the first quarter of 1996. During the same time in 1995, Century 21 franchise sales totaled 43 offices. Offices opened during the quarter totaled about 110 units, compared with 57 offices during the first quarter of last year.

An HFS spokesman says that Century 21 sales and openings are ahead of expectations and that "we anticipate replicating this franchise growth in the ERA franchise system as well."

HFS also announced completion of the $100 million purchase of four nonowned Century 21 regions that had been operated by master franchises. The master licensees included 750 offices in the Southwest, south Florida, the mid-Atlantic states, and eastern Pennsylvania.

The company also says it will soon complete a $46 million acquisition of the remaining two nonowned Century 21 regions, some 300 offices in the Pacific Northwest and central California.

FYI: For news on HFS's latest purchase, see "This Just In," this issue.

GM, Lawyers Title Announce Joint Venture

DETROIT---General Motors and Lawyers Title Corp. announced the formation of a joint venture to provide employee relocation services to GM and other corporate customers worldwide. The new company will be known as Argonaut Relocation Services and will be headquartered in Detroit.

Argonaut has been a department of GM's Worldwide Real Estate division for more than 50 years and has managed the relocation of all of GM's salaried and hourly employees. GM averages about 8,000 moves a year.

"The venture will focus on growth opportunities that exist by leveraging GM's worldwide presence," says Matthew Cullen, director of GM's Worldwide Real Estate. "The venture allows GM to maintain customer satisfaction and low relocation costs while providing Argonaut the opportunity to pursue new outside business."

Source: IRED News/ALQ-Real Estate Intelligence Report

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