1RoofRealty.com Partners With Sovereign Bank.Business/Technology Editors BOSTON--(BUSINESS WIRE)--May 11, 2000 1RoofRealty.com, a Boston-based company pioneering the online real estate brokerage industry, today announced a co-branding agreement with Sovereign Bank. This partnership will allow 1RoofRealty.com web users the opportunity to pre-qualify for mortgages through a co-branded site between the two companies. 1RoofRealty.com is a full-service real estate broker that offers homeowners the ability to sell their homes via a controlled online auction, or through the traditional real estate model, utilizing a full-service 1RoofRealty.com real estate agent, while charging only 2.5 percent commission. Most traditional full-service real estate brokers charge between 5 and 6 percent in commission to sell a home. Commission is due upon closing with no additional charges or amounts to be paid by the seller or the buyer. 1RoofRealty.com's full-serviced licensed agents will handle the complete transaction from start to finish (from advertising and running the open houses/home tours to handling the closing on the property). Sovereign Bank will become a $35 billion financial institution with approximately 600 community banking offices operating in eastern Pennsylvania Pennsylvania (pĕnsəlvā`nyə), one of the Middle Atlantic states of the United States. It is bordered by New Jersey, across the Delaware River (E), Delaware (SE), Maryland (S), West Virginia (SW), Ohio (W), and Lake Erie and New York , northern Delaware, New Jersey Delaware, New Jersey could refer to:
Connecticut (kənĕt`ĭkət), southernmost of the New England states of the NE United States. It is bordered by Massachusetts (N), Rhode Island (E), Long Island Sound (S), and New York (W). , Massachusetts Massachusetts (măsəch  `sĭts), most populous of the New England states of the NE United States. , Rhode Island Rhode Island, island, United StatesRhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. and New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). , upon completion this summer of a divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). with Fleet/BankBoston. "The 1RoofRealty.com Mortgage center is an integral part of our site," said Chris Delaney, President of 1RoofRealty.com. "With Sovereign Bank powering our loan center, our users can be pre-qualified for mortgages, allowing them to bid in 1RoofRealty.com's e-Auctions. Also, customers can take advantage of Sovereign's Mortgage calculators Mortgage calculators are used to help a current or potential real estate owner determine how much they can afford to borrow to purchase a piece of real estate. Mortgage calculators can also be used to compare the costs or real interest rates between several different loans, determine the as well as Sovereign Banking representatives' knowledge and support to help choose the right loan for them." "This new service is only one of many that Sovereign Bank will bring to our customers. We know how important it is for potential homeowners to get fast and accurate information about mortgage financing. Through the new partnership, we will make it easier for them to get the answers they need so they can move into their dream house as quickly as possible," said John J. Held Jr., Senior Vice President, Sovereign Mortgage Banking Division. By utilizing the power and reach of the Internet, 1RoofRealty.com offers all customers a full-service, low commission real estate professional to assist them during every step of the home buying/selling process. The firm offers residential properties through e-Auction, or through the traditional home buying process. 1RoofRealty.com is a full-service real estate broker that offers the added advantage of discount commissions. 1RoofRealty.com uses the power and the reach of the Internet to advertise and sell properties in an open and transparent online auction, or through the traditional sales method. Sellers are charged just 2.5 percent to sell their home, and buyers receive a 0.5 percent rebate rebate, partial refund of the total price paid for goods or services. In the United States, rebates were historically given by railroads to favored shippers as a return on transportation charges. for using a 1RoofRealty.com agent. The 1RoofRealty.com e-Auction is a better way to sell homes, as it makes the buying process easier and ultimately nets the most competitive price for the seller. |
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