LGBTRES

On Friday, November 17th, the National Gay & Lesbian Chamber of Commerce (NGLCC) announced a partnership with Realogy Corporation (NYSE: H), the world’s largest real estate franchisor. Realogy and its companies — CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, ERA®, Sotheby's International Realty®, NRT Incorporated, Cartus and Title Resource Group — have been designated the official “real estate choices” of the NGLCC.

As part of the three-year agreement, Realogy and its companies are the Exclusive Program Founders for an unprecedented real estate certification, the LGBT Real Estate Specialist (LGBTRES™).  The designation, given only to sales associates and brokers who complete the related training and certification and become members of the NGLCC, signifies expertise in understanding the needs of LGBT (Lesbian Gay Bisexual Transgender) clients and counseling them through the major financial and life changes involved in buying and selling a home. The partnership, which stems from an earlier agreement with Realogy’s former parent company, Cendant Corporation, also includes executive representation on the NGLCC’s Corporate Advisory Council (CAC) and partnership in the organization’s upcoming events and initiatives.
 
“By being the Exclusive Founder of LGBTRES™, Realogy is offering to its sales associates and brokers the tools of knowledge, language and understanding needed to earn the trust of the LGBT market and become this community’s leading real estate partner,” said Justin Nelson, NGLCC co-founder and president. “We are proud to be associated with Realogy and are committed to helping build brand loyalty to its family of real estate brands,” said NGLCC co-founder and SEO Chance Mitchell. 

The NGLCC noted that LGBTRES™ is modeled after the Seniors Real Estate Specialist (SRES) certification that had been in market for several years for those brokers and agents interested in working with the seniors market. The LGBT population is third only to African American and Hispanic populations in terms of spending power of a diverse group, with $610 billion in consumer spending power in 2005, expected growth to $641 billion by the end of 2006, and more disposable income than their heterosexual counterparts, according to research by Witeck-Combs Communications.

“We are dedicated to providing a welcoming environment for all customers and an inclusive workplace,” said Dave Weaving, executive vice president and chief administrative officer of Realogy. “As part of our continued commitment to advancing diversity in the local and global communities we serve, we are providing our brand networks and local companies with the opportunity to educate sales associates on how to better understand and serve this segment of our communities.” 

The certification training for LGBTRES™ candidates includes a half-day live lecture course or an online track, which the candidate must pass to receive their certification. The training, designed to help agents and brokers gain sensitivity to and understanding of the LGBT market, will be offered to Realogy’s affiliated sales associates and brokers at a substantially discounted rate of $75. The NGLCC will begin delivery of the training in the fourth quarter of 2006, and, in 2007, will certify LGBTRES™ trainers in Realogy’s major markets to make the certification available to a wider audience.

As part of Realogy’s involvement with NGLCC, Lauren De Simon Johnson, senior vice president of Human Resources for NRT Incorporated, which is Realogy’s company-owned brokerage operation, will serve on the organization’s Corporate Advisory Council (CAC). The CAC is composed of NGLCC corporate partners to discuss issues and educate Corporate America and the public about the economic benefits of providing a diverse workplace and creating mutually beneficial relationships with the LGBT and LGBT-friendly business community.

Realogy joins a highly respected group of companies with representatives on the CAC, including IBM, Wells Fargo, JPMorgan Chase, American Airlines, Intel Corporation, Wyndham Hotels and Resorts, Lehman Brothers, Motorola, Travelport, Merrill Lynch, American Express, Wal-Mart, Cisco Systems, Avis, Orbitz, Intuit, Kodak, Fannie Mae, Millennium Hotels and Resorts, and Kimpton Hotels.

About Realogy Corporation

Realogy Corporation (NYSE: H) is a leader in real estate franchising, brokerage, relocation and title services. Realogy's world-renowned brands and business units include CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, ERA®, Sotheby's International Realty®, NRT Incorporated, Cartus and Title Resource Group. Headquartered in Parsippany, N.J., Realogy (http://www.realogy.com/) has more than 15,000 employees and 320,000 brokers and sales associates worldwide.