Joint venture will provide title, settlement services
RE/MAX Allegiance and First American Residential Group have created a joint venture partnership, Array Title & Escrow Services, which will provide full title and settlement services.
RE/MAX Allegiance is a brokerage of RE/MAX International. It has nearly 1,200 agents and 30 offices in Virginia, Washington, D.C., and Maryland, and was the largest RE/MAX brokerage in the world in 2003 in closed sales volume, according to a press statement.
First American Residential Group is a member of the First American Corp. family of companies.
"This is an outstanding opportunity for uswe expect this relationship to be very beneficial and rewarding to both our companies," said Bob Blount, CEO of RE/MAX Allegiance.
Joint ventures between brokerages and mortgage companies and real estate service providers have become increasingly common in the past few years. Brokerages see them as a way to provide more services to consumers, as well as offering another revenue stream, and mortgage companies and real estate service providers often feel they provide an opportunity to get closer to the point of purchase.
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Copyright 2004 Inman News