Realogy Announces Agreement To Create First-Ever Real Estate Benefits Program For AARP Members
Launching in Early 2020, New Program Will Provide a Cash Back* Reward or Bonus when AARP Members Buy or Sell a Home with One of Realogy's Trusted Real Estate Brands
MADISON, N.J., Oct. 28, 2019 /PRNewswire/ -- Realogy Holdings Corp. (NYSE: RLGY), the largest full-service residential real estate services company in the United States, today announced an agreement to create a new real estate benefits program for AARP members. Expected to launch nationally in early 2020, this will be the first-ever real estate services program designed for the nearly 38 million AARP members. The new offering will allow AARP members to earn a cash back reward or bonus when they buy or sell a home with one of Realogy's trusted residential real estate brands, including Better Homes and Gardens® Real Estate, Century 21®, Coldwell Banker®, Corcoran®, ERA® and Sotheby's International Realty®.
The population of Americans over the age of 50 continues to grow and represents one of the most active generational groups for U.S. home buying and selling. According to the U.S. Census Bureau, there are approximately 113 million Americans over 50, and this age group is expected to grow by another 16% (or nearly 18 million people) by 2030. In its 2019 generational trends survey, the National Association of Realtors (NAR) reported that those over 50 made up nearly 40% of home buyers and the largest group of home sellers (55%).
"With millions of adults over 50 buying and selling homes each year, we are excited to develop a unique benefits program that guides and rewards AARP members during another important milestone in their lives," said Ryan Schneider, Realogy's chief executive officer and president. "This is a great example of Realogy leveraging our tremendous scale, world-class brands and deep market expertise to forge new relationships to drive more high-quality leads for our affiliated agents and franchisees and to benefit AARP members."
"For many older Americans, relocating to a new home is part of a major life stage transition, such as retiring, downsizing, or changing jobs," said John Larew, SVP of Branded Products at AARP Services Inc. "The real estate program from Realogy is designed to help AARP members successfully navigate that transition, while saving money in the process. It's part of AARP's commitment to empowering people to choose how they live as they age."
* The cash back bonus is offered in most states. In some states, a gift card or commission reduction at closing may be provided in lieu of the cash back bonus. The program is not available for employer-sponsored relocations or transactions in Iowa or outside the United States. The cash back bonus is not available in Alaska, Louisiana and Oklahoma. In Kansas and Tennessee, a MasterCard MAX gift card will be issued. In Mississippi, New Jersey, and Oregon, a commission reduction may be available at closing. The cash back bonus is only available with the purchase and/or sale of your home through the use of a program-introduced real estate agent. The actual amount received is based on the purchase and/or sale price of the home. All real estate commissions are negotiable. Other terms and conditions may apply.
About Realogy Holdings Corp.
Realogy Holdings Corp. (NYSE: RLGY) is the leading and most integrated provider of residential real estate services in the U.S. that is focused on empowering independent sales agents to best serve today's consumers. Realogy delivers its services through its well-known industry brands including Better Homes and Gardens® Real Estate, CENTURY 21®, Climb Real Estate®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, Sotheby's International Realty® as well as NRT, Cartus®, Title Resource Group and ZapLabs®, an in-house innovation and technology development lab. Realogy's fully integrated business model includes brokerage, franchising, relocation, mortgage, and title and settlement services. Realogy provides independent sales agents access to leading technology, best-in-class marketing and learning programs, and support services to help them become more productive and build stronger businesses. Realogy's affiliated brokerages operate around the world with approximately 188,600 independent sales agents in the United States and approximately 111,200 independent sales agents in 113 other countries and territories. Realogy is headquartered in Madison, New Jersey.
AARP is the nation's largest nonprofit, nonpartisan organization dedicated to empowering Americans 50 and older to choose how they live as they age. With nearly 38 million members and offices in every state, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands, AARP works to strengthen communities and advocate for what matters most to families with a focus on health security, financial stability and personal fulfillment. AARP also works for individuals in the marketplace by sparking new solutions and allowing carefully chosen, high-quality products and services to carry the AARP name. As a trusted source for news and information, AARP produces the nation's largest circulation publications, AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org or follow @AARP and @AARPadvocates on social media.
About AARP Services Inc.
AARP Services Inc., founded in 1999, is a wholly owned taxable subsidiary of AARP. AARP Services manages the provider relationships for and performs quality control oversight of the wide range of products and services that carry the AARP name and are made available by independent providers as benefits to AARP's millions of members. The provider offers currently span health products, financial products, travel and leisure products, and life event services. Specific products include Medicare supplemental insurance; credit cards; auto, home, mobile home and motorcycle insurance; life insurance and annuities; member discounts on rental cars, cruises, vacation packages and lodging; special offers on technology and gifts; and pharmacy services. AARP Services also engages in new product development activities for AARP and provides certain consulting services to outside companies.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements, other than those of historical fact, contained in this report are forward-looking statements including, but not limited to, statements regarding Realogy's expectations regarding the impact and timing of the AARP program. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including those discussed in Realogy's filings with the SEC. Any forward-looking statements speak only as of the date of this press release and, except to the extent required by applicable securities laws, Realogy expressly disclaims any obligation to update or revise any of them to reflect any changes in expectations or any change in events. For additional information concerning risks, uncertainties and other factors that may cause actual results to differ from those anticipated in the forward-looking statements, and risks to Realogy's business in general, please refer to Realogy Holdings Corp.'s SEC filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2018 and its Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2019 and June 30, 2019.
SOURCE Realogy Holdings Corp.
Realogy Media Contact: Trey Sarten, (973) 407-2162,Trey.Sarten@realogy.com; Realogy Investor Contacts: Alicia Swift, (973) 407-4669, Alicia.Swift@realogy.com, Danielle Kloeblen, (973) 407-2148, Danielle.Kloeblen@realogy.com