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ERA REAL ESTATE IS BEST KNOWN INDUSTRY BRAND NAME IN SINGAPORE AND FIRST IN OVERALL QUALITY, STUDY SHOWS
PARSIPPANY, NJ, September 19, 2001 – ERA Franchise Systems LLC announced today that a recent consumer awareness study of the real estate industry in Singapore found that the ERA® brand is the most widely recognized in the nation's home resale market. A study by the National University of Singapore finds that, in addition to being the most recognized brand in that nation's public housing resale market, the ERA® name ranks first among those surveyed in service, reliability, professionalism and knowledge. ERA Realty Network is the master franchisor for the ERA brand in Singapore. Unaided awareness of "ERA" among 1,000 people surveyed was 47 percent. The next closest response drew less than 11 percent of those polled. Aided awareness of the brand was significantly higher. When asked, 95 percent said they had heard of ERA. Dr. Ong Seow Eng, research director of the university's Department of Real Estate concludes: "This study provides an independent external validation that ERA Realty Network holds a considerable edge in market perception in terms of brand recognition, service, reliability, professionalism and knowledge." In addition to recognizing the brand value of ERA Singapore, respondents stated that the company provides the best service. It also garnered the highest percentage of responses for being the agency with the "most professional agents." "ERA Realty Network has integrated all of ERA® systems, products and methodology, which have helped contribute to its success," says Dave Mathis, vice president of international franchise services and events. "With the outstanding professional training and application of innovative technology that are brand hallmarks, ERA Singapore continues to live up to its stellar reputation." ERA Realty Network also has the distinction of operating what is believed to be the largest single real estate brokerage office in the world. It's megaoffice is home to more than 1,000 sales associates who combined to produce sales volume of $3.1 billion (approximately $1.8 billion USD) in 2000. "Many people are curious about the size of an office with more than 1,000 sales associates," says Mathis. "Here, associates are expected to be 'road warriors' rather than 'desk jockeys.' There are stand-up workstations, each dedicated to a particular function such as listings and MLS access. Only the top producers earn the right to a cubicle." Since its first expansion outside the U.S. in 1981, ERA has grown into a major global force. Today, there are independently owned ERA offices in 26 countries and territories, including Europe, the Caribbean, Asia, and Africa. ERA Franchise Systems LLC, a subsidiary of Cendant Corporation (NYSE:CD), is a global leader in the residential real estate industry with nearly 30 years experience in developing consumer-oriented products and services. The ERA Real Estate network includes more than 28,000 brokers and sales associates throughout the United States and 26 other countries and territories. ERA is available to consumers on the Internet at www.era.com.ERA® properties can also be viewed at www.REALTOR.com®.
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