Property ManagementERA Announces Record Year
ERA Franchise Systems, Inc. today announced
that new records in core franchise sales in the third and fourth quarters
helped make 2000 the best year in franchise sales in its history.
These independently owned and operated brokerages are expected to generate a
total of approximately $60.7 million in gross closed commissions (GCC) as
compared to $54.3 million in 1999, the previous annual best. An additional
$9.5 million in annual GCC was generated through NRT acquisitions compared
to $7.8 million in 1999, a 22 percent increase. NRT, a joint venture between
Cendant (NYSE: CD) and Apollo Management L.P., is the nation"s largest
residential real estate brokerage operating under the Cendant real estate
brands.
With a record $17.1 million in GCC for the three months ended December 31,
2000, last year"s fourth quarter was the best fourth quarter in franchise
sales in the company"s history. That amount represents an increase of more
than 39 percent compared to the same period in 1999 ($12.3 million in GCC)
and follows a record-setting third quarter when $21.7 million in GCC was
posted.
ERA Franchise Systems, Inc., a subsidiary of Cendant Corporation (NYSE:CD.
The
ERA Real Estate network includes more than 2,500 independently owned and
operated brokerage offices with more than 28,000 brokers and sales
associates throughout the United States and 24 other countries and
territories. ERA is available to consumers on the Internet at www.ERA.com,
a member of the Move.com network.