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RE/MAX HOME SELLER PROTECTION PROGRAM GUARDS CLEVELAND CONSUMERS FROM ADVERSE COMMISSION SPLITS

 RE/MAX HOME SELLER PROTECTION PROGRAM GUARDS
 CLEVELAND CONSUMERS FROM ADVERSE COMMISSION SPLITS
 CLEVELAND, Oct. 14 /PRNewswire/ -- RE/MAX International, Inc. today launched a three-part home seller protection program that assures a new level of openness for Northeast Ohio's consumers through proper disclosure of real estate practices. The program encourages all local real estate firms to cooperate fairly in the sale of a home by providing competitive commission splits.
 "Our new program is designed to protect local home sellers from missing the best sale opportunity on their home, explained Dave Liniger, RE/MAX co-founder and chairman of the board.
 Included in the program are three initiatives that support the RE/MAX pledge to freely disclose information to consumers and to educate them on contract provisions to insist on when selling a home:
 -- Code of Honesty, Good Faith and Fair Dealing -- RE/MAX sales
 associates, by signature, agree only to honor professional
 business practices that are in the best interest of the public.
 -- Seller Protection Addendum -- a supplemental agreement in which
 the listing office agrees to attract all interested buyers by
 offering the same competitive fee to other offices for their
 cooperation in the sale of a home.
 -- Adverse Splits Disclosure -- designed to inform consumers of the
 damaging effects of adverse split compensations, how they work to
 a consumers' disadvantage and how to avoid them.
 "Adverse commission splits are undermining cooperation between some real estate companies in the Cleveland area. RE/MAX offices and all but the two largest real estate companies in Cleveland follow the nationwide practice of putting the interests of their clients ahead of company profit motives and other business considerations. By taking advantage of our new initiatives, home sellers here can now assure that their homes are on an equal standing with other comparable homes in the Multiple Listing Service (MLS)," added Liniger.
 Participating RE/MAX agents here will begin encouraging all sellers to insist that the Seller Protection Addendum be added to their listing contracts, regardless of listing company. Listing offices that sign the addendum agree to encourage all other offices and agents to cooperate in the sale of a home in the interest of the home seller.
 "The RE/MAX organization is committed to keeping the best interests of clients first," said Liniger. "Locally, adverse commission splits persist only because home sellers are not aware they are used in this area or haven't been informed how the practice can interfere with the sale of their home," added Liniger.
 The RE/MAX home seller protection program assures that all participating real estate offices will be offering fair and equal commission splits.
 "Adverse commission splits ultimately hurt home sellers because their homes stand to receive less attention than others, may remain on the market longer or sell for less than they otherwise might have. The RE/MAX home seller protection program is just another extension of our good faith effort to facilitate the earliest sale of a home on the best terms available. The program not only explains why home sellers should avoid adverse commission splits, but also shows them how," said Liniger.
 RE/MAX currently has 51 sales associates in six area offices including Cuyahoga, Summit, Lake and Lorain counties.
 Established in 1973 with international headquarters in Englewood, Colorado, RE/MAX is one of the largest residential real estate franchise organizations in North America with over 31,000 associates in more than 1,900 independently owned and operated offices. The organization, which also provides relocation, asset management, commercial real estate and insurance services, is built on the concept of paying the maximum allowable commissions earned to sales associates who are supported by strong regional and national marketing programs. Based on an average production of 24 transactions per sales associate, the RE/MAX organization will facilitate an estimated $85 billion in sales this year.
 -0- 10/14/92
 /EDITOR'S NOTE: Contact any RE/MAX office in Northeast Ohio or call 800-992-5324 for a copy of the documents comprising the new, three-part RE/MAX home seller protection program/
 /CONTACT: John Linton of RE/MAX, 303-770-5531, or Alexis Dankovich of Watt, Roop & Co., 216-566-7019, for RE/MAX/ CO: RE/MAX ST: Ohio IN: SU:


BM -- CL016 -- 0012 10/14/92 15:30 EDT
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Date:Oct 14, 1992
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