| For Further Information Contact:
Mary Stark-Hood, 312/329-8374
Mstarkhood@realtors.org
Kristin Stafford, 312/329-8628
kstafford@realtors.org
For release:
Monday, Jan. 8, 2007
CHICAGO (Jan. 8) – The NATIONAL ASSOCIATION OF REALTORS® announced an additional benefit for RELAY® transaction management subscribers. Now, a reduction of up to $2,500 in the deductible amount on Errors and Omissions (E&O) insurance provided by Geo. F. Brown & Sons will be available to real estate professionals who utilize the RELAY® system. The discount is in addition to the existing 50% reduction in the E&O deductible NAR members receive through Geo. F. Brown & Sons under NAR's REALTOR BenefitsSM Program.
"Agents and brokers using RELAY® online transaction management already reduce their risk through its automatic history and notes functionalities, and through an enhanced ability to track transaction progress and completion," said Bob Kulick, Real Estate
Business Technologies LLC Chairman of the Board. "Now, if an errors
and omissions claim is filed involving a transaction where RELAY®
was utilized, REALTORS® can save up to $2,500 off the deductible,
in addition to the 50% off the deductible available under the
current program through NAR and Geo F. Brown."
"From a risk management perspective, RELAY® is a valuable tool that provides real estate practitioners with the security of knowing
that each step in the transaction process has been completed. This
helps to increase compliance and could reduce E&O expenses over
time," said Joan Schmalz, Executive VP, Geo. F. Brown.
"NAR is very excited about RELAY® and Geo. F. Brown entering into this partnership to benefit members. Both companies are leaders in their industries and provide offerings that help real estate professionals minimize potential risks. This is an outstanding illustration of how REALTOR Benefits(sm) partners can leverage each others' offerings to provide added value and additional savings to NAR members," said Bob Goldberg, NAR Senior Vice President of Marketing and Business Development and head of the REALTOR Benefits(sm) Program.
About RELAY®
RELAY® is the online transaction management tool developed by REBT, LLC, a REALTOR®-owned and REALTOR®-operated company. With agent tools that allow for enhanced listing Web sites, client presentations, and closing packages on CD-ROM, the RELAY® program helps agents appeal to the new market of buyers and sellers. RELAY® also helps transactions run smoother and more efficiently through the unique features, such as one-click integration with ZipForm®, the leading brand of forms software in the real estate industry. RELAY® helps real estate agents and brokers expand their marketing and attract new clients by offering new, easy-to-use and affordable tools for online real estate. As of January 1, 2007, 16 Local Associations of REALTORS® offer RELAY® as a member benefit in their area. For more information about RELAY®, please visit www.rebt.com or call 1-866-736-7328.
About Geo. F. Brown & Sons
Geo. F. Brown & Sons' Real Estate E&O insurance is available to
firms performing residential and commercial sales, appraisals,
property management/leasing and auctioneering. Through the use of
various endorsements, the coverage can be tailored to the unique
needs of the real estate firm. Geo. F. Brown's E&O insurance
program is underwritten by Diamond State Insurance Company® and
United National Insurance Company®. Both are members of United
National Group® and rated "A" Excellent by A.M. Best Company.
Diamond State is licensed to write admitted business countrywide,
while United National is authorized nationally as a surplus lines
insurer. Geo. F. Brown also offers SecureALease to property managers. This is a unique product that replaces the need for security
deposits. For additional information about the Geo F. Brown's E&O
insurance, go to www.gfbgroup.com or call 1-888-372-6262.
About NAR's REALTOR Benefits(sm) Program
RELAY® and Geo F. Brown & Sons are NAR REALTOR Benefits(sm) Program partners. NAR members enjoy the benefits of NAR's REALTOR Benefits(sm) Program which offers them practical solutions for their business and personal lives on the publications, products and services they use every day. The program includes offerings from more than 30 companies recognized as leaders in their respective industries and more than 100 publications and products designed to educate real estate professionals and their clients on topics ranging from legal issues and risk management to business development and marketing. In addition, members' use of the REALTOR Benefits(sm) Program provides revenue to NAR and helps keep NAR membership dues low.
About the NATIONAL ASSOCIATION OF REALTORS®
The NATIONAL ASSOCIATION OF REALTORS®, "The Voice for Real Estate," is America's largest trade association, representing over 1.3 million members involved in all aspects of the residential and
commercial real estate industries. Information about NAR is available at www.realtor.org
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