RE/MAX Renews Exclusive Title Services Relationship With First American
February 1, 2006
Contract Renewal Includes Transaction Management Platform
SANTA ANA, – First American Residential Group, a member of The First American Corporation (NYSE: FAF) family of companies and RE/MAX International, Inc., a global real estate franchiser, renewed 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.
Source: First American Residential Group