/Users/andrea/_magisterarbeit/korpus/clean/testkorpus/41/file12.html NN ----------------------------------------- : Investor NP Center NP Financial NP Data NP Annual NP Report NP Archive NP 2000 CD Annual NP Report NP Real NP Estate NP This DT site NN requires VVZ JavaScript NN . SENT To TO navigate VV through IN the DT site NN , , you PP can MD visit VV the DT sitemap NN , , or CC enable VV JavaScript JJ support NN in IN your PP$ browser NN . SENT Financial NP DataReal NP Estate NP 2000 CD Annual NP Report NP REAL NP ESTATE NP Real NP Estate NP is VBZ an DT integrated JJ division NN where WRB the DT real JJ estate NN franchise NN , , relocation NN and CC mortgage NN businesses NNS complement VV one CD another DT and CC create VV numerous JJ cross NN marketing NN opportunities NNS . SENT Homebuyers NNS need VVP mortgages NNS . SENT Relocating VVG customers NNS need VVP to TO sell VV current JJ residences NNS and CC buy VV new JJ ones NNS , , requiring VVG both DT brokerage NN assistance NN and CC mortgages NNS . SENT To TO our PP$ franchisees NNS , , we PP provide VVP the DT purchasing VVG power NN of IN our PP$ Preferred JJ Alliance NP program NN , , through IN which WDT more JJR than IN 100 CD world NN class NN companies NNS offer VVP discounts NNS on IN everything NN from IN long JJ distance NN phone NN service NN and CC insurance NN to TO computers NNS , , furniture NN and CC office NN products NNS . SENT Size NN and CC Scope NN Cendant NN owns VVZ three CD of IN the DT four CD largest JJS residential JJ real JJ estate NN brands NNS in IN the DT world NN CENTURY NN 21 CD , , COLDWELL NP BANKER NN , , and CC ERA NN and CC COLDWELL NP BANKER NN COMMERCIAL NP , , a DT leading JJ franchisor NN of IN commercial JJ real JJ estate NN offices NNS . SENT We PP are VBP the DT leading JJ corporate JJ employee NN relocation NN company NN in IN the DT world NN , , and CC we PP are VBP the DT second JJ largest JJS retail JJ mortgage NN originator NN in IN the DT United NP States NPS . SENT Real JJ Estate NP Franchise NN In IN 2000 CD , , Cendant NP franchisees NNS closed VVD nearly RB 1 CD . SENT 8 CD million CD transaction NN sides NNS , , with IN an DT average JJ sales NNS price NN exceeding VVG 170 CD , , 000 CD . SENT Cendant's NP primary JJ competition NN comes VVZ from IN the DT tens NNS of IN thousands NNS of IN independent JJ agencies NNS in IN residential JJ real JJ estate NN . SENT In IN such PDT a DT fragmented JJ market NN , , we PP have VHP a DT strong JJ opportunity NN to TO continue VV to TO grow VV the DT business NN by IN selling VVG CENTURY NN 21 CD , , COLDWELL NP BANKER NN and CC ERA NN franchises NNS to TO independent JJ brokers NNS . SENT Franchisees NNS benefit VVP from IN our PP$ familiar JJ brand NN names NNS , , national JJ advertising NN , , mortgage NN products NNS , , customer NN referrals NNS , , training NN , , discounts NNS on IN Preferred JJ Alliance NP products NNS and CC other JJ value NN added VVD services NNS advantages NNS that WDT give VVP brokers NNS and CC agents NNS a DT competitive JJ edge NN , , especially RB in IN a DT soft JJ economy NN . SENT NRT NP Incorporated VVD , , a DT venture NN we PP formed VVD with IN Apollo NP Management NP L NP . SENT P NN . SENT in IN 1997 CD , , is VBZ the DT largest JJS franchisee NN of IN Cendant's NP real JJ estate NN brands NNS . SENT NRT NP acquires VVZ residential JJ real JJ estate NN brokerage NN firms NNS and CC converts VVZ them PP into IN one CD of IN our PP$ three CD brands NNS , , contributing VVG to TO the DT growth NN of IN our PP$ franchise NN royalty NN stream NN . SENT Since IN January NP 2000 CD , , NRT NP has VHZ acquired VVN companies NNS with IN more JJR than IN 340 CD million CD in IN gross JJ closed JJ commissions NNS . SENT In IN 2001 CD , , we PP will MD be VB testing VVG a DT Web NP based VVN program NN that WDT provides VVZ limited JJ real JJ estate NN services NNS to TO home NN sellers NNS at IN reduced JJ rates NNS . SENT If IN successful JJ , , this DT program NN would MD be VB launched VVN through IN our PP$ franchisees NNS who WP could MD then RB offer VV both DT full JJ and CC limited JJ service NN options NNS , , depending VVG on IN the DT needs NNS of IN the DT consumer NN . SENT In IN 2000 CD , , our PP$ commercial JJ arm NN continued VVD to TO grow VV , , with IN Coldwell NP Banker NP Commercial NP closing VVG nearly RB 25 CD , , 000 CD transactions NNS with IN a DT total JJ sales NNS volume NN of IN 6 CD . SENT 6 CD billion CD . SENT Relocation NP Cendant NP Mobility NN is VBZ the DT leading JJ employee NN relocation NN service NN in IN the DT world NN , , assisting VVG in IN the DT transfer NN of IN about IN 128 CD , , 000 CD employees NNS worldwide JJ in IN 2000 CD . SENT Our PP$ client NN retention NN rate NN of IN 98 CD percent NN over IN the DT past JJ three CD years NNS attests VVZ to TO the DT quality NN of IN our PP$ services NNS . SENT We PP have VHP contracts NNS with IN two CD thirds NNS of IN the DT Fortune NP 50 CD companies NNS and CC nearly RB 30 CD federal JJ government NN agencies NNS . SENT We PP continued VVD to TO grow VV our PP$ base NN in IN 2000 CD , , renewing VVG 194 CD contracts NNS , , while IN adding VVG or CC expanding VVG 248 CD contracts NNS . SENT Under IN way NN is VBZ a DT pilot NN program NN with IN the DT U NP . SENT S NP . SENT Department NP of IN Defense NP , , giving VVG Cendant NP Mobility NN approximately RB 15 CD , , 000 CD moves NNS . SENT This DT pilot NN could MD translate VV into IN substantial JJ growth NN in IN revenues NNS and CC cash NN flow NN . SENT In IN 2000 CD , , Cendant NP Mobility NN expanded VVD its PP$ global JJ reach NN through IN two CD acquisitions NNS . SENT Bradford NP Bingley NP Relocation NP Services NPS in IN the DT U NP . SENT K NP . SENT and CC Hamilton NP Watts NP International NP with IN operations NNS in IN Australia NP and CC Southeast NP Asia NP . SENT Mortgage NP Cendant NP Mortgage NP is VBZ now RB the DT second JJ largest JJS retail JJ provider NN of IN residential JJ mortgages NNS in IN the DT United NP States NPS , , providing VVG origination NN , , sale NN and CC servicing NN of IN loans NNS . SENT In IN 2000 CD , , our PP$ mortgage NN originations NNS totaled VVD 22 CD billion CD . SENT Our PP$ ability NN to TO generate VV business NN as IN the DT exclusive JJ preferred JJ provider NN of IN mortgage NN services NNS to TO more JJR than IN 7 CD , , 000 CD franchised JJ real JJ estate NN offices NNS , , and CC also RB a DT growing VVG list NN of IN financial JJ institutions NNS who WP offer VVP our PP$ products NNS under IN their PP$ private JJ label NN brands NNS , , gives VVZ us PP a DT competitive JJ advantage NN and CC drives VVZ our PP$ business NN . SENT In IN 2000 CD , , we PP added VVD more JJR than IN 5 CD billion CD in IN annual JJ private JJ label NN business NN . SENT The DT alliance NN with IN Merrill NP Lynch NP that IN we PP announced VVD in IN December NP 2000 CD is VBZ the DT most RBS recent JJ example NN of IN how WRB our PP$ low JJ cost NN , , world NN class NN outsourcing VVG services NNS expand VV our PP$ reach NN through IN strong JJ partners NNS . SENT Our PP$ Phone NN In IN , , Move VV In IN program NN is VBZ a DT killer NN application NN for IN our PP$ outsource NN partners NNS , , with IN guarantees NNS for IN same JJ day NN loan NN decisions NNS and CC closing NN dates NNS . SENT We PP have VHP leveraged JJ its PP$ success NN by IN adapting VVG the DT concept NN to TO the DT Internet NN with IN Single NP Session NP mortgage NN origination NN , , which WDT offers VVZ the DT same JJ guarantees NNS . SENT Through IN Cendant NP Real NP Estate NP , , we PP provide VVP a DT seamless JJ process NN for IN buying NN , , selling NN , , financing NN , , or CC refinancing NN homes NNS . SENT . SENT . SENT and CC for IN relocating VVG across IN town NN or CC around IN the DT world NN . SENT Back RB to TO the DT 2000 CD Annual JJ Report NP Table NN of IN Contents NNS