Press Room

GMAC REAL ESTATE AWARDS NEWEST FRANCHISE TO DENVER-AREA VETERAN AL GALPERIN

Predicting a Continued Robust Market, Galperin Opens 9,400-Square-Foot Office and Unveils Generous Incentives to Swell His Ranks to 80 Agents Within a Year

Cherry Creek, Colo., Jan. 11, 2006 - Officials with GMAC Real Estate, one of North America's leading real estate firms, are predicting that home sales in the Denver metropolitan area will continue to be robust - and say they've found the perfect person to position the company as consumers' first choice when it comes to buying or selling a home here.

The company today announced that it has awarded its newest franchise to Al Galperin, a 44-year resident of the Denver area who has spent the past 14 years as a real estate broker with a talent for quickly expanding real estate offices' physical and financial growth. The new franchise, Cherry Creek GMAC Real Estate, is located at 400 S. Colorado Blvd., Suite 700, in Cherry Creek. The 9,400 square feet of offices have room for more than 80 agents, which Galperin believes will be part of his firm within a year from now.

"We're bringing service back to Denver, and now there will be a new and better choice for home buyers and sellers in the Denver-area market," he said.

"Let's just say we were attracted to, and impressed by, Al's positive 'can-do' attitude, along with his energy and enthusiasm about the Denver-area market," Lane Barnett, president and CEO of GMAC Real Estate Franchise Operations, said.

"We're very excited by the potential of this market, and even more so by the fact that Al and his agents have joined our team."

Galperin said he chose to affiliate with GMAC Real Estate over other national firms because the company "stands alone in its commitment" to unsurpassed customer service.

"Through Premier Service®, GMAC Real Estate - and now my office - is head and shoulders above everyone else when it comes to doing what's right, and what's best, for our customers," he said. "I was also very impressed by how they truly view me and my colleagues as partners, not just a franchise, and are concerned about the success of the company as a whole. There's an uncommon commitment that can't be matched."

Premier Service is regarded as the most comprehensive and effective customer-service program in the real estate industry and has generated a proven 94 percent national customer satisfaction rating. Through the program, GMAC Real Estate sales associates put in writing, up front, the services they will perform. They then ask their customers to honestly rate their performance after each transaction through a survey conducted and tabulated by an independent, third party. Individual survey results provide each sales associate with ongoing feedback and insight for continuous improvement.

Galperin plans to achieve his aggressive agent-recruiting goals by offering an unusually generous commission plan that starts at a 70 percent to 30 percent ratio. Other enticements include free agent Web pages and the latest office technology for complete printing, faxing, scanning and copying services. And then there's the office itself: With expansive views of the Rockies, Galperin refers to it as "my office of dreams," and agents are already sharing his sentiment.

In 2001, Galperin assumed management of a local real estate office and within one year increased the staff from 42 to 83 agents. A self-described "agent manager," Galperin said his job is to make it possible for agents to succeed. "A lot of managers hide in their offices go play golf or just take time off. My job is to be on the sales floor helping and supporting my agents," he said.

Galperin said he is bullish on the local market. "I believe 2006 will be a very strong year for Denver metro real estate, and I'm forecasting both higher sales prices and an increase in the number of sales," he said. "I believe 5 percent appreciation increases are quite realistic, with the Cherry Creek market even higher."

About Cherry Creek GMAC Real Estate

Cherry Creek GMAC Real Estate is located at 400 S. Colorado Blvd. Suite 700 Denver CO 80246 phone number is 303-377-8100. In addition to real estate brokerage services, the company also offers mortgage, title and home warranty services. For additional information or to view homes for sale, go to www.ccgmac.com.