Weichert Realtors Press Release

MORRIS PLAINS, N.J. - An empowered and engaged global workforce, relentless focus on quality and performance, and innovative risk management solutions combined to make 2007 the fourth consecutive year of growth for Weichert Relocation Resources Inc. (WRRI), one of the world’s leading relocation and assignment management companies.

“Much of our success in 2007 can be attributed to our ability to transform our Value Proposition from vision to reality by insulating our clients from challenging real estate market conditions; driving higher levels of performance through the use of the Balanced Scorecard; and delivering consistent, distinctive and memorable customer experiences through our Raving Fans® service process,” said Aram Minnetian, President of WRRI. “Our client roster and robust sales pipeline is evidence that our Value Proposition truly resonates with some of the world’s leading and most respected corporations.”

WRRI’s unique status as an independent company, under the same ownership since its inception over 38 years ago, proved to be another compelling distinction, according to Jim Schneider, Senior Vice President.

“Our financial and organizational stability enables us to keep our focus where it belongs—on our clients’ programs and policies,” said Schneider. “It also makes WRRI incredibly attractive to companies looking to build a long-term partnership with a secure, strategic and trustworthy relocation service provider.”

Underpinning WRRI’s organic growth were new benchmarks in client and relocating employee satisfaction, which hit 98% and 97%, respectively, in 2007. 

“Ever since we adopted our Raving Fans customer service process over four years ago, we’ve remained vigilant about enhancing the customer experience and making service quality a true competitive differentiation for WRRI,” said Michelle Nerny, Senior Vice President. “We’re proud to see that our efforts have resulted in unprecedented levels of positive feedback.”

Internally, employee engagement across WRRI’s global operations reached a new height of 89% percent, according to the results of the company’s Annual Colleague Survey.

“In an era in which companies, particularly companies within the workforce mobility industry, struggle to retain talent, we’re proud that our colleague engagement and satisfaction rates have never been higher,” said Schneider. “It’s a testament to our stability and reputation that we continue to attract and retain the industry’s best talent and remain a solid, growth-oriented company.”

Other notable achievements driving WRRI’s success throughout 2007 included:

• A comprehensive re-engineering of its Real Estate Services Group, combining subject matter experts, proprietary broker and appraiser networks, and innovative tools into one, holistic property disposition solution designed to help generate offers and expedite sales, yield higher amended value and customer satisfaction rates, and result in lower direct costs and days-on-market.
• Enhancements to the Weichert Broker Network to address new market challenges, including the addition of Broker Network Managers throughout North America, updated accreditation requirements to ensure broker proficiency in proactive marketing strategies, and aggressive performance metrics for all Network brokers.
• Unprecedented growth in Canada, where WRRI became the country’s second-largest relocation services company and the exclusive service provider to three of Canada’s “Big Five” banking institutions.
• Expanded thought leadership initiatives, including a series of web seminars and benchmark surveys tackling such timely topics as Avoiding Inventory Homes, The Rise of Global Short-Term Assignments, Understanding the Total Cost of Relocation, BVO Next Practices, Weathering Relocation’s Perfect Storm, Corporate Mobility and the Current Real Estate Market, Policy Trends for Renters and New Hire Policy Best Practices. WRRI’s web seminars drew over 600 corporate attendees, while the company’s benchmark surveys generated actionable data from HR and relocation professionals at over 300 companies across North America.
• Continued commitment to quality processes and transparency with the attainment of a SAS 70 Type II Report covering home sale and expense management processes and technology, and renewed ISO 9001:2000 certification in WRRI’s UK office.

“Reinforcing our 2007 achievements is a deep commitment to sustained growth and expansion in 2008 and beyond,” said Minnetian. “We will continue to deliver on our Value Proposition through Raving Fan service experiences, pre-emptive risk management solutions and superior Scorecard results.”

About Weichert Relocation Resources: Weichert Relocation Resources Inc. (WRRI) delivers turnkey global relocation and assignment management solutions that help clients expand their business reach, increase productivity, and more cost-effectively manage their mobile workforce. WRRI is recognized as the growth-oriented industry leader, providing a unique combination of stability, financial expertise and seasoned leadership that has made the company a trusted, proactive partner to some of the world’s most respected corporations. A progressive, independent company, WRRI is committed to delivering Raving Fan® service; investing in new capabilities, technologies and talent; and bringing unmatched innovations to market, such as the industry’s only complete, end-to-end global workforce mobility solution. For more information, visit wrri.com.

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