2001 Press Releases

ERA Franchise Systems LLC 6 Sylvan Way Parsippany, NJ 07054 (973) 428-9700

Media contact: Stacy Quinn (973) 496-7904   stacy.quinn@ERA.com

FOR IMMEDIATE RELEASE 

PARSIPPANY, NJ (July 30, 2001) – While many people hope one day to purchase their own home, cultural barriers and shortages in affordable housing are just two of the issues that can prevent these dreams from materializing. Working to keep these dreams alive are many ERA® professionals, including those nominated for this year's inaugural HOPE Awards ("Home Ownership Participation for Everyone"), a new industry awards program.

Created to raise awareness of the need to create greater equality in homeownership, the HOPE Awards are sponsored by a partnership of real estate associations and companies, including ERA Franchise Systems. The ERA® nominees for 2001 HOPE Awards include: Judy Blevins of O'Conor, Piper & Flynn ERA in Abingdon, MD; Shadrick Bogany of ERA Bogany Properties in Houston; and the office of ERA Executive Realty in Falls Church, VA.

Blevins was nominated for four categories including, education, brokerage, finance and project of the year. She is recognized for her work on The Swan Meadows Project in Aberdeen, a neighborhood of 298 semi-detached and single family rental homes in a low-income area. Originally built as military housing, the homes had been rented to low-income families for 37 years, and needed renovations. When the owner decided to renovate and convert the rental homes into single-family homes affordable enough for low-income buyers, Blevins was instrumental in helping the community obtain a

$1 million grant to fund the renovation project. She also launched several programs to help residents purchase the homes.

One of the many people impressed with Blevins' work is Aberdeen City Manager, Peter Dacey. "Judy worked with the community, residents, local banks and contractors to get special financing and prices on all the necessary home buying services. She researched programs and educated the community with homebuying seminars and held individual meetings," Dacey said. "Without Judy's efforts in educating and working with residents and finding special financing for these first-time homebuyers, few would have been able to afford these homes."

In Houston, Shadrick Bogany of ERA Bogany Properties has been nominated for four categories, including education, finance, project of the year and brokerage. During the past four years, Bogany has helped place more than 4,000 minority families in homes through educational programs, credit repair initiatives and HUD counseling. He was recently appointed to the Texas Department of Housing and Community Affairs Governing Board. In this position, he helps Texans achieve an improved quality of life through the development of better communities. He also serves as a Director of Housing Opportunities of Houston, Inc.

In addition to his work with government agencies and volunteer organizations, Bogany hosts a weekly real estate radio talk show that focuses on promoting affordable housing. He was also instrumental in the development of a Spanish radio talk show that utilizes the same format, but is geared toward Houston's Hispanic community.

Oscar Gonzales, executive vice president of the Houston Association of REALTORS® nominated Bogany after working with him on several projects. "Bogany's commitment to the residents of Houston and helping them achieve their dream of home ownership is truly reflective in the countless volunteer hours he spends making certain that everyone has a fair chance to achieve this goal," Gonzales said. "His passion towards community trusteeship coupled with his radio program, which strives to educate potential homebuyers, are just a few of his heartfelt commitments."

As a result of its outreach to Vietnamese, Indian and Spanish populations, ERA Executive Realty in Falls Church, VA has been nominated in the brokerage category, which recognizes an organization that provides a full range of real estate transaction services to minority communities. To assist minorities in purchasing homes, broker JoAnne Johnson has educated her sales associates about financial options available for low-income buyers and has taught them how to explain the purchasing process. She has also implemented a system to locate lower-priced starter homes.

Johnson has spearheaded many of the programs that have helped ERA Executive Realty become a specialist in providing homes for buyers who speak languages other than English. The office is diverse with sales associates from a variety of countries including, India, China, Vietnam, Thailand and Trinidad. "As our business practices changed, I realized we couldn't maintain the same course of action," Johnson said. "We adapted to the change in our community by implementing a programmatic approach that covers all of the necessary steps to reach prospective purchasers."

Peter Burgdorff, president & CEO, ERA Franchise Systems LLC said, "These offices and individuals demonstrate the commitment of ERAâ offices throughout the world as we strive to eliminate issues like language barriers, credit issues and shortage of affordable housing that oftentimes affect potential homebuyers. Our ultimate goal is ensuring that the dream of home ownership is attainable by as many people as possible."

The HOPE Awards feature seven categories, which include homeownership education, finance, project of the year, real estate brokerage, public policy, media coverage and leadership. A panel of judges will determine one winner in each category based on the impact of the nominee's work on promoting minority homeownership, use of innovative ideas, acceptance by the minority community and focus on minority homeownership and affordability.

Winners in each category will receive a $10,000 grand prize and a trophy that will be awarded at a gala dinner hosted at the National Building Museum in Washington, DC on October 10, 2001. At that time, award recipients will discuss their work with the news media and housing policy makers at a National Press Club symposium.

ERA Franchise Systems LLC, a subsidiary of Cendant Corporation (NYSE:CD), is a global leader in the residential real estate industry with nearly 30 years experience in developing consumer-oriented products and services. The ERA Real Estate network includes more than 28,000 brokers and sales associates throughout the United States and 26 other countries and territories. ERA is available to consumers on the Internet at www.era.com. ERA® properties can also be viewed at www.REALTOR.com®.

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