2006 Press Releases
RE/MAX Renews Exclusive Title Services Relationship With First American
- Contract Renewal Includes Transaction Management Platform -
Contact:
Christy Torian
RE/MAX International, Inc.
303-770-5531
David Schulz
Corporate Communications
The First American Corporation
(714) 800-3298
SANTA ANA, Calif., Feb. 1, 2006 - First American Residential Group, a member of The First American Corporation (NYSE: FAF) family of companies, the nation's largest data provider, and
RE/MAX International, Inc., a global leader in real estate franchising, today announced the renewal of a multi-year marketing agreement between the companies. Under the arrangement, First American will continue to be the exclusive approved supplier of title services to the
RE/MAX global network of more than 6,150 franchised offices and 114,500 sales associates. As part of the expanded agreement, First American will also introduce its online real estate transaction management platform, Transaction Manager, to the
RE/MAX global network.
The extension of the agreement affords
RE/MAX affiliates continued access to First American's title products and services, which are designed to increase efficiency and improve operating margins, for
RE/MAX broker/owners through structured title solutions and joint venture opportunities. Since the August 2003 launch of the partnership that established First American as the exclusive
RE/MAX approved supplier for title services, numerous
RE/MAX brokerages have formed, or are negotiating the formation of, joint venture agreements with First American title operations. New revenue generation and workflow improvements top the list of advantages that
RE/MAX brokerages have found in working with First American under the national program.
"This relationship assists
RE/MAX offices and sales associates in tying together the real estate transaction in such a way that customers can be offered an unparalleled array of services and support," said Christy Torian, vice president, regional services for
RE/MAX. "
RE/MAX offices and sales associates are positioned as leaders in the arena of offering the full spectrum of value-added services in demand by today's home buyer and seller. First American offers a wide range of support services that assist
RE/MAX professionals in meeting this need, including transaction management technology. Transaction Manager offers additional value to
RE/MAX professionals by giving them the opportunity to track their transactions online from start to finish, and open the door to a new and dynamic way of efficiently conducting business with their customers."
The success of the structured title solutions and joint venture opportunities is largely due to the rapid delivery of services and volume processing that First American can offer through its automated settlement service channels.
RE/MAX brokers and agents ordering First American title services can do so through the First American's state-of-the-art
FASTTransaction System-a nationwide, browser-based settlement services platform that automates and centralizes title and escrow processing. Transaction Manager integrates with the
FASTTransaction system and enables
RE/MAX brokers and agents to view multiple transactions and place orders while continuing to manage their businesses. They can also offer buyers and sellers 24-hour access to transaction status, documents and current information.
"First American is well-prepared to be a great partner and resource for
RE/MAX brokers and owners at any stage of their franchise development," said Stephen C. Roney, president and chief executive officer of First American Residential Group. "The fact that our relationship with
RE/MAX is constantly expanding is proof-positive that we are delivering on our promise to facilitate faster and easier transactions while providing additional revenue-generating opportunities for their network members. We are pleased to continue our partnership and offer our services to such a dynamic organization."
First American and
RE/MAX will continue to jointly promote the benefits of the program to the
RE/MAX network via marketing materials, video feeds and a co-branded Web site. These communications, supplemented by training sessions, tradeshow appearances and direct marketing to
RE/MAX network members will continue to educate and provide information on the various First American products and services available to
RE/MAX affiliates.
About RE/MAX
The
RE/MAX franchise network is a global real estate system with more than 6,100 independently owned offices engaging 114,500 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, referral, relocation and asset management. For more information, visit
www.remax.com.
About First American Residential Group
First American Residential Group is a subsidiary business line established by The First American Corporation to address the real estate brokerage, MLS and relocation market segments with the full array of First American capabilities. Its systems streamline real estate listing, financing and closing processes, resulting in increased efficiency and profitability. First American Residential Group operating units include First American MLS Solutions, the nation's leading provider of MLS systems and real estate software in North America; and Relocation Advantage and Certified Closing Network, leading providers of closing management services to relocation companies. For more information, visit:
www.residential.firstam.com.
