First American Announces Successful Rollout of Exclusive RE/MAX Marketing Partnership
—Comprehensive Title Services and New Revenue Opportunities Well Received by RE/MAX Broker/Owners—
March 2, 2004, SANTA ANA, Calif.
At the 2004 RE/MAX International Conference in San Diego, The First American Corporation (NYSE: FAF) today announced that its landmark title services partnership with real estate franchising leader RE/MAX International, Inc., is generating positive results for both First American and RE/MAX broker/owners. Since the August 2003 launch of the partnership that established First American as the exclusive RE/MAX authorized supplier for title services, numerous RE/MAX brokerages have formed, or are negotiating the formation of, joint venture agreements with First American title operations.
“Now six months into our partnership with RE/MAX, we are pleased to report that new relationships are developing and that many of our existing customer relationships are being strengthened by this agreement,” said Stephen C. Roney, president and chief executive officer of First American Residential Group, Inc. “In addition to the various affiliated business arrangements being established between First American and RE/MAX broker/owners, First American is using its cutting-edge technology to deliver the products and services that bring true efficiency and new profit opportunities to real estate operations, and RE/MAX network members are responding.”
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. Structured title solutions and joint venture opportunities are helping generate new business—the success of these solutions is largely due to the rapid delivery of services and volume processing that First American can offer though its automated settlement service channels. RE/MAX brokers and agents using First American’s FASTWeb and AgentFirst platforms have access to industry-leading property data, document management, transaction management and online ordering tools, all of which are integrated with First American’s state-of-the-art FAST Transaction System, a nationwide, browser-based settlement services platform that automates and centralizes title and escrow processing.
“First American is delivering on its promise of facilitating faster and easier transactions while providing additional revenue generating opportunities for our network members,” said Steve Ozonian, RE/MAX International senior vice president. We see tremendous potential in this relationship and look forward to the continued rollout of this program.”
“We’re having conversations almost weekly with various RE/MAX brokers and agents,” said Michael Goyne, vice president of sales and a regional cross-sell coordinator for First American. “The national relationship between our companies is bringing real value to the RE/MAX network in many forms, and is clearly driving new business to First American.”
First American regularly promotes its offerings to the more than 87,000 sales associates and 4,700 offices that comprise the RE/MAX sales network.
“Considering the wide range of Realtor® focused services that First American now offers, we feel that we are well prepared to be a great partner and resource for RE/MAX brokers and owners at any stage of their franchise development,” said Parker S. Kennedy, president and chief executive officer of The First American Corporation. “We are pleased to have this opportunity to offer our services to such a dynamic organization.”
The 2004 RE/MAX International Conference will feature a panel discussion entitled “The Drive to Diversify” that outlines the First American-RE/MAX partnership. Scheduled for 3:30 p.m. on Mar. 3, 2004, the discussion will be moderated by REAL Trends editor Steve Murray and feature speakers from both RE/MAX and First American who have established joint ventures through the national partnership. The event will be held in Room 30 at the San Diego Convention Center.
RE/MAX affiliates can find more information on First American products and services by visiting the RE/MAX Mainstreet Web site at www.remax.net.
About The First American Corporation
The First American Corporation is a Fortune 500 company that traces its history to 1889. As the nation's largest data provider, the company supplies businesses and consumers with information resources in connection with the major economic events of people's lives, such as getting a job; renting an apartment; buying a car, house, boat or airplane; securing a mortgage; opening or buying a business; and planning for retirement. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within seven primary business segments including: Title Insurance and Services, Specialty Insurance, Trust and Other Services, Mortgage Information, Property Information, Credit Information and Screening Information. With revenues of $6.21 billion in 2003, First American has nearly 30,000 employees in approximately 1,400 offices throughout the United States and abroad. More information about the company and an archive of its press releases can be found at www.firstam.com.
The RE/MAX franchise network, now celebrating its 31st year of consecutive growth, is a global real estate system operating in 47 countries. More than 4,700 independently owned offices engage 87,000 member sales associates who lead the industry in professional designations, experience and production, while providing real estate services in residential, commercial, referral, relocation and asset management. For more information visit www.remax.com.