GMAC Real Estate announced today that it has made an initial commitment of $100 million to help franchisees grow their businesses and build on the momentum of the company's increasing industry presence.

John Bearden, president and CEO of GMAC Home Services, the parent company of GMAC Real Estate, said the initial multi-million dollar commitment will be used specifically to help real estate franchisees and company-owned operations increase their respective market shares by acquiring other companies and opening new offices. GMAC Home Services also includes two other divisions, GMAC Global Relocation Services, the world's third largest relocation firm, and GHS Mortgage.

"GM is proactively making a significant financial commitment that is an unqualified endorsement of what GMAC Home Services has already accomplished. It is also evidence of the commitment and confidence our parent company has in the long-term potential of these businesses," said Bearden, a respected real estate veteran who joined GMAC Home Services late last year.

"We offer our customers the most knowledgeable and experienced team of real estate service professionals in the nation, bar none, and it's wonderful to see their dedication and achievements recognized through this show of support from throughout our organization."

Bearden said this investment in GMAC Real Estate is the latest development in a string of milestones that leave no doubt the company is poised for continued growth.

For example:

• To drive home its customer-service message, GMAC Real Estate last month launched an agent centered, national TV, radio and billboard advertising campaign. Timed to coincide with the busy spring homebuying and selling season, the multi-million dollar campaign was created to drive new business to GMAC Real Estate franchisees.

• One of Bearden's first priorities upon taking the CEO position at GMAC Home Services was to create an entirely new franchise offering for real estate brokers. The result: GMAC Real Estate is the only national franchisor to offer real estate brokers a choice of one of three flexible offerings, enabling them to select the option that best meets their business needs for their specific markets. The new franchise offering has already yielded results in all regions of the country.

• Already in his short tenure, Bearden has recruited and built a new executive management team comprised of real estate franchising professionals who've built brands into powerhouse names. Most recently, Bearden in February hired G. Lane Barnett as executive vice president, marketing and communications. Barnett has built brands for numerous Fortune 500 companies and has received national awards for marketing leadership and advertising effectiveness, most notably while serving as first vice president, director of marketing for Coldwell Banker Corp.

• Bearden's goal is nothing less than to reenergize and expand the company's 1,300-office, 20,000-member real estate team through an inspiring focus on superior customer service. "For our customers - and for those we hope we'll soon have the privilege to call our customers - our message is simple: If you want the very best service you can find, look no further than GMAC Real Estate," Bearden said. "We're not interested in being the biggest real estate company, just the best. For potential new franchisees, our message is straightforward and compelling: If you'd like to increase your market share by working with a quality business partner that is people oriented, we want to hear from you."

  GMAC Real Estate is one of North America's largest real estate companies with more than 1,300 company-owned and franchised real estate offices and more than 20,000 sales associates. GMAC Real Estate is a business unit of GMAC Home Services, which also owns, GHS Mortgage, a leading lender, and GMAC Global Relocation Services, the world's third largest relocation firm.

  Source: GMAC Real Estate

Published: May 7, 2002

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