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ERA® REAL ESTATE POSTS RECORD FOR FRANCHISE SALES IN THIRD QUARTER
Parsippany, NJ (November 9, 2000) – Residential real estate leader ERA Franchise Systems LLC announced today that it achieved its best-ever franchise sales performance for the quarter ended September 30, 2000. Third quarter franchise sales for ERA totaled $24.3 million in gross commission income (including $2.6 million in NRT acquisitions for their ERA offices) compared to $21.1 million in the same quarter in 1999, the previous record high quarter. This represents a 15 percent increase over the previous high. "Over the past many months, the real estate industry has been riding one of the strongest markets we've ever seen. This kind of strong performance in the face of that record-paced market – when franchise sales has traditionally been more difficult – is all the more significant," explained Peter Burgdorff, president and CEO for ERA Franchise Systems LLC. "This new record is an indication that the results of our strong focus on growing the ERA brand over the past four years is beginning to accelerate. It drives home the point that more and more people are recognizing the value and top-notch quality ERA brings to the marketplace." Brien J. McMahon, executive vice president of Franchise Sales for the Cendant Real Estate Division said, "The changes we've made in our sales force are clearly making a difference. Our dedicated and motivated team is focused on continued growth and expansion of new and existing franchises." ERA Franchise Systems LLC, a subsidiary of Cendant Corporation, is a leader in the residential real estate industry with nearly 30 years of experience in developing consumer-oriented products and services. The ERA real estate network includes more than 2,600 independently owned and operated brokerage offices with more than 28,000 brokers and agents throughout the USA and numerous other countries and territories. The ERA System is accessible to customers on the Internet at www.ERA.com and www.ERAeurope.com.
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