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Realogy Franchise Group and NCRC Promote Fair Housing Practices
By James Comtois
As the 40th anniversary of the Fair Housing Act approaches, the National Community Reinvestment Coalition, the nation's largest member-based coalition committed to equal access to homeownership, fair housing and credit, and the Realogy Franchise Group, a unit of Realogy Corp., a provider of real estate and relocation services, formed a three-year alliance to promote fair housing practices.
This agreement provides for both entities to share resources in the promotion of fair housing best practices to real estate sales associates and consumers.
Realogy Corp. has a diversified business model that includes real estate franchising, brokerage, relocation and title and settlement services. Realogy's brands and business units include Century 21, Coldwell Banker, Coldwell Banker Commercial, The Corcoran Group, ERA, Sotheby's International Realty, NRT Inc., Cartus and Title Resource Group. Headquartered in Parsippany, N.J., Realogy has approximately 15,000 employees worldwide and is owned by an affiliate of Apollo Management LP, a private equity and capital markets investor.
The NCRC is an association of more than 600 community-based institutions that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development and vibrant communities for America's working families. Its members include community development corporations, local and state government agencies, faith-based institutions, community organizing and civil rights groups, minority and women-owned business associations and social service providers from across the nation.
"This alliance means a great deal to us as real estate professionals and as advocates of homeownership," said Alex Perriello, president and CEO of the Realogy Franchise Group. "Supporting fair housing opportunity is not only important to our business, it is important to the community. We are proud to be working with the NCRC and supporting its mission."
"The Realogy franchise brand networks have a major presence and strong voice in real estate markets around the nation," said John Taylor, president and CEO of NCRC. "Forming this relationship with the Realogy Franchise Group will open avenues for us to expand and celebrate homeownership for all working Americans while affirming both organizations' commitment to equal professional service and neighborhood diversity."
Among other things, the agreement provides for a mutual exchange of delegates at each organization's annual conferences. NCRC representatives will participate in the annual global conventions of the Realogy Franchise Group's residential real estate brands: Century 21, Coldwell Banker, ERA and Sotheby's International Realty. Realogy representatives will also attend the NCRC annual convention to be held in Washington in March 2008 and participate in a number of panels addressing real estate and fair housing issues.
Through this agreement, the Realogy Franchise Group and its brand networks will also support the NCRC's public website for the Community Reinvestment Act (www.communityinvestmentnetwork.org). The site serves as a resource for news, perspectives, research reports, and networking for individuals and organizations interested in creating, rejuvenating and maintaining healthy communities in the United States and other countries.
Established in October 1997, the CRA requires banks to meet the credit needs of all communities, especially in low- and moderate-income areas.
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