1. Cendant Corporation Real Estate Division

2. Company Overview Company Description Founded in 1997 4 divisions 4 real estate business units

3. Cendant’s Organizational Chart Chief Executive Officer Real Estate Services Real Estate Franchises Real Estate Brokerage Relocation Title and Settlement Services Hospitality Services Travel Distribution Services Vehicle Services Corporate Executive Officers Board of Directors

4. Real Estate Services Business Units Real Estate FranchisesCENTURY 21® Coldwell Banker® Coldwell Banker Commercial® Southeby’s International Realty® ERA® (Electronic Realty Associates) Real Estate BrokerageNRT (National Realty Assets) RelocationCendant Mobility® Title and Settlement ServicesCendant Settlement Services

5. Functions Provides their franchisee customers with services designed The franchise agreements Name Right & Services ↔ Royalty Payments Provides home buyers with mortgages, and assists in employee relocation offers mortgage services

6. Ranking in the Real Estate Industry The world’s largest franchisor The World’s largest operator of residential real estate brokerages A leading commercial real estate brokerage system A leading settlement services company The largest number of employees (87,000 employees)

7. Chief Competitors Prudential Financial Inc. offers real estate and relocation services in U.S. and Canada

8. Marketing Challenge In 1999, there were opportunities to grow in an information economy Accounting fraud shifted the strategies (external) → (internal) Acquisition of other companies ↓ Concentration on its existing businesses

9. Strategies Convergence Strategy To connect online and off-line assets Value Circle Strategy To accomplish cross-marketing in the business units

10. Response to Market Challenge “move.com” in 1999 for the foundation of new Internet portal based on “rentnet.com” apartment-rental listings

11. Success Determination Link online to off-line assets call service centers mortgage originators relocation counselors national network of affiliated brokers and agents Facilitate mortgage services Real Estate Brands & Cendant Mobility

12. The Real Estate Division’s Revenue Occupancy Rates to the Company’s Total Revenue 39%

13. Value Bubble Attracting online and off-line advertising public releases “Media Center” Attract Technology Brochure

14. Value Bubble (Continue) Engaging (Building Loyalty) “shopping list” Select place and size of apartments calculate a cost-of-living “360 View” Virtual walk-through apartments http://www.rentnet.com/apartments/fyp/search/ma tchlist.jhtml http://www.rentnet.com/apartments/fyp/search/ma tchlist.jhtml Engage Technologies IFusion's Arrive software

15. Value Bubble (Continue) Retaining (Strengthening the Relationship) Frequent updates Recovery from negative experiences Retain Technologies Both online and off-line interactions E-mail Phone Fax

16. Value Bubble (Continue) Learning (Building the Database) Registration and subscriptions Database  Preferences  Demographics

17. Value Bubble (Continue) Relating (Data-Driven Interactions) Personalize the interaction Previous customer behavior Relate Technology Telephone Fax E-mail

18. Benefits by Customerization BI & CRM → Customized Interaction Develop its services with customers customized interaction mortgage services Everyday-updated mortgage rates Individualized mortgage offers

19. Questions from Presenter What was the technology used to transact smoothly online by the real estate division? What were the two types of strategies used to move online? What were the purposes of the two strategies? What technology did develop the ability to experience the products?

20. Questions?