RISMEDIA, August 16, 2010—For the first time, a major real estate franchisor and one of the country’s largest property management franchisors are joining forces to assist renters, distressed homeowners and investors. The historic alliance is a two-way strategy that allows industry power houses, Real Property Management (RPM) and RE/MAX, to efficiently exchange property and client referrals.
As the housing market continues a gradual recovery, more investors are taking advantage of a growing inventory of distressed properties, while some cautious consumers are choosing to rent a home before they buy. Through the new agreement, RPM will connect RE/MAX agents with investors ready to sell and, in turn, RE/MAX agents will recommend clients to RPM who are ready to rent. RE/MAX agents may also refer properties to RPM for management.
“Record numbers of foreclosures, high unemployment and stricter lending practices have resulted in lower homeownership rates,” said RE/MAX Chairman and Co-Founder Dave Liniger during opening remarks at the annual RE/MAX Broker Owner Conference. ”RE/MAX agents need to provide the best solution for each of their clients and, for many, homeownership may still be a few years away.”
Distressed properties account for nearly half of today’s U.S. home sales, and investors represent a fifth of current buyers. That means trained real estate professionals need to redirect their marketing efforts to address the needs of a changing home buyer demographic.
“This cooperative agreement has significant benefits for consumers, investors, loan servicers, renters, RE/MAX agents and our franchisees,” said Kirk McGary, president of Real Property Management. “RE/MAX and RPM are joining forces to offer the highest quality of service to consumers, while providing an effective solution to the increasing number of distressed properties on the market.”
Based in Layton, Utah, RPM doubled in size in 2010 to more than 200 offices that manage tens of thousands of properties for national loan servicers, numerous banks, private lenders and individual investors.
RE/MAX and its internationally acclaimed RE/MAX University will create customized training and communications programs to ensure that participating professionals are equipped to provide their clients with the highest quality service.
“The technical capability to simultaneously connect with thousands of franchisees within both organizations is a tremendous advantage,” said Mike Ryan, Senior Vice President of Media and Training at RE/MAX. ”Also, real-time updates will provide transparency and offer an invaluable resource to lenders and servicers.”
To facilitate the implementation of the new alliance and deliver the most efficient service, RPM has created an interactive online portal where agents and property managers can make their referrals and track the progress of all transactions.