PARSIPPANY, N.J., March 13, 2006 - The Real Estate Services Division of
Cendant Corporation (NYSE: CD) announced that three of its businesses -
Cendant Mobility, the Cendant Real Estate Franchise Group and Century 21
Real Estate LLC - were recognized by Training magazine as being among the
top 100 companies for excellence in organizational development and training.
This is the fifth consecutive year in which Cendant Mobility (65th) and
Century 21 Real Estate LLC (97th) have earned the "Training Top 100"
distinction. In addition, the Cendant Real Estate Franchise Group's
organizational learning department (70th) made its debut on this year's
list.
"Training and development are of vital importance to us," said Richard A.
Smith, chairman and CEO of the Cendant Real Estate Services Division. "The
high-caliber training programs delivered by Cendant Mobility, our Real
Estate Franchise Group and the Century 21(R) organization help our customers
grow and improve their businesses. The ongoing success and recognition of
our training initiatives validates the quality work being done by our
businesses in this area."
Relocation clients are outsourcing complex global human resources functions
in increasingly greater frequency. As a result, Cendant Mobility created a
global training curriculum to help its workforce develop the critical
competencies necessary to support these new responsibilities, which range
from relocation services to complete expatriate administration. This
three-week development program uses a blended learning strategy that
incorporates classroom training, eLearning, on-the-floor coaching and
experiential learning. It was designed to accommodate participant skill
levels, client variations, business processes, systems and customer service.
In addition, a client representative participates to help build the
client-specific competencies of the Cendant Mobility project team and to
further develop business relationships.
"We were being asked by our clients to become more involved in customizing
training to meet global service delivery models, client-specific services,
cultural diversity and their proprietary software and systems," said Lynette
Wagner, director of global learning and development for Cendant Mobility.
"Our existing training was redesigned to address these requirements, and the
new training strategy has positively impacted our business results in the
areas of service and revenue. We have found that our clients truly
appreciate our efforts to expand our knowledge base so we are better able to
meet their needs."
Training magazine recognized the Century 21 organizational learning
department for its CREATE 21(R) sales training program, which is designed
for new sales associates. Comprised of 12 individual lessons focusing on
core skills related to real estate sales, the program supports the Century
21 organization's goal of helping its affiliated sales associates close more
transaction sides. To supplement the program, a broker/manager guide is
included that enables the sales associate's broker or manager to be closely
involved in their development, and so they can assist the sales associate in
learning local market nuances. A student manual, nine video segments about
common real estate scenarios, and various scripts and templates help
participants immediately incorporate the skills they learn into their
day-to-day activities.
"CREATE 21 has been quite effective in helping us meet our organization's
business goals," said Ernie Brescia, vice president and chief learning
officer for Century 21 Real Estate LLC. "Our internal research shows that
there is a clear 'CREATE 21 advantage.' Among sales associates hired in the
fourth quarter of 2004, CREATE 21 graduates earned 21 percent more in
commission and closed 28 percent more units on average during their first
full year than new sales associates who did not participate in this training
program."
Marking its debut in the rankings, the Cendant Real Estate Franchise Group
was cited by Training magazine for its creation of the Leadership Academy
for ERA(R) brokers and the eFastStart training program for new Coldwell
Banker(R) sales associates. Using both onsite and classroom training, the
ERA Leadership Academy helps real estate brokers review and reshape their
businesses based on input from top-level practitioners and theorists.
Participants are held accountable for their results and use live online
sessions to share ideas and discuss issues affecting their companies.
The goal of the eFastStart program is to increase productivity levels and
reduce turnover rates among new Coldwell Banker sales associates by
providing them with the knowledge, skills and tools necessary to kick-start
their careers and to succeed in the industry. This spaced learning program
takes a performance-centered approach and incorporates digital photography
courses, self-paced learning, virtual classroom instruction, substantial
field assignment work and peer networking. Preliminary program results show
a turnover rate among participants that is 41 percent below the industry
average for new sales associates.
"The ERA Leadership Academy and eFastStart program for Coldwell Banker were
designed to provide integrated, seamless support for those respective brands
so they can help their customers increase their productivity," said Carol
McManus, vice president of learning development and infrastructure for the
Cendant Real Estate Franchise Group. "Our organizational learning
department has had great success working in partnership with the Cendant
real estate brands to create custom programs that meet their specific
business needs."
About the Real Estate Services Division of Cendant Corporation
The Real Estate Services Division of Cendant Corporation (NYSE: CD) will
become Realogy Corporation upon the completion of its anticipated spin-off
from Cendant during the second quarter of 2006. The Division consists of
four primary business units: the Real Estate Franchise Group, representing
approximately 15,000 residential and commercial franchised real estate
offices and 313,500 sales associates affiliated with the Century 21(R),
Coldwell Banker(R), Coldwell Banker Commercial(R), ERA(R) and Sotheby's
International Realty(R) brand names; Cendant Mobility (which will become
Cartus), a premier provider of employee relocation and global mobility
services with six global service centers on four continents; NRT
Incorporated, the nation's largest residential real estate brokerage company
with operations in 35 major metropolitan markets; and Cendant Settlement
Services Group (which will become Title Resource Group), a leading national
provider of title, escrow and other settlement services. In 2005, the
Cendant Real Estate Services Division reported revenues of $7.1 billion and
EBITDA of $1.2 billion.
Media Contact:
Nicole Milluzzo
(973) 496-7470
nicole.milluzzo[at]cendant.com