GMAC Home Services Names Jim Toulon Senior Vice President of Franchise Development; Longtime Franchising Executive Literally Grew up in the Real Estate Industry.

Business Editors/Real Estate Writers

OAK BROOK, Ill.--(BUSINESS WIRE)--March 20, 2003

GMAC Home Services President and CEO John Bearden today announced that Jim Toulon has been named senior vice president of franchise development for the company's GMAC Real Estate division.

Toulon will direct the growth of GMAC Real Estate's entire system, including franchising, mergers and acquisitions for the 1,300-office network. Bearden said Toulon's number one goal is to develop and execute an aggressive, strategic plan for growth that identifies new markets for offices throughout the United States.

"At GMAC Home Services, we don't 'sell' franchisees as so many others do," Bearden said. "Just the opposite: we enter into strategic business partnerships with firms who share our values and agree with our strategy for providing home services and our 'Premier Service' program to home buyers and sellers."

Through its new Premier Service program, GMAC Home Services provides the highest level of customer service available in the real estate industry. Premier Service is a program that gives customers the two things they say they want most from a real estate transaction: value and control.

In fact, GMAC Real Estate has taken the unprecedented step of asking its agents -- as part of the Premier Service program -- to put into writing the services they will provide; measure results against expectations of each and every transaction; and provide recommendations on services customers consider core to the transaction, including title, mortgage and closing services.

Bearden said the company is currently in discussions with a variety of market-leading firms across the nation whose vision for providing the gamut of home services is on par with GMAC Home Services' vision. Toulon is the ideal person to bring those discussions to completion and guide the company's assertive goal to identify new partners, he said.

"Jim Toulon brings a unique blend of real estate franchising and home services experience to our company," according to Bearden. "His track record speaks loudly to his accomplishments: He has been instrumental in the mergers, acquisitions or franchising of hundreds of real estate offices, and has earned a well-deserved reputation whose credentials speak for themselves."

Toulon, in fact, is no newcomer to the real estate industry: He grew up hanging around real estate offices with his mother, who has been an agent for nearly 30 years. In 1986 he joined Coldwell Banker, where he was responsible for franchise sales in 13 Midwest states.

Toulon won virtually every franchise sales award the company handed out and held Coldwell Banker's record for the most lifetime franchise sales. From 1992 to 1999, he served as Coldwell Banker's regional vice president. During his tenure, the Midwest region nearly tripled in size to approximately 1,000 offices; meanwhile, average office size and gross commission income also increased significantly.

From 1999 until joining GMAC Home Services, Toulon served as executive vice president of Hometouch Centers Inc., a Chicago-based home-services company. As executive vice president, he reported directly to the chairman and was responsible for all aspects of the company's growth.

"GMAC Home Services is poised for growth: We continue to receive dozens of inquiries from franchisees of other networks whose contracts are expiring, and who are realizing that their philosophies of providing exceptional customer service align nicely with ours," said Toulon, a graduate of Indiana University who holds a bachelor's degree in business.

"GMAC Home Services is building a strong brand that is backed by an experienced team of professionals. With an unwavering commitment from our parent company GM and the necessary capital to help our franchisees grow, there are numerous opportunities for us."

GMAC Real Estate is unique among franchisors because it is a solutions-based business franchise that offers brokers flexible pricing models. With GMAC Real Estate, brokers maintain the flexibility to become either a traditional, hybrid or 100 percent commission franchise office, matching their local market needs with the right business model, Toulon said.

About GMAC Home Services

GMAC Home Services is one of the nation's largest real estate organizations, delivering premier service to homebuyers and sellers through its three operating companies, GMAC Real Estate, GHS Mortgage and GMAC Global Relocation Services. Backed by the resources of industry giant General Motors, the GMAC Home Services network has more than 1,300 franchised and owned residential real estate offices throughout the United States.