CHICAGO, Sept. 25, 2018 /PRNewswire/ -- Home Partners of America announced today that its subsidiary, cataLIST, and Realogy Holdings Corp. (NYSE: RLGY), the largest full-service residential real estate services company in the United States, will offer the cataLIST Program, a quick-cash sale program through NRT's Coldwell Banker branded operations, available in select markets. NRT is the Realogy subsidiary that operates its company-owned real estate brokerage offices.
Through the cataLIST Program, an owner of a qualifying property who lists with Coldwell Banker will have the option of receiving a cataLIST Cash Offer from cataLIST to purchase their home, generally within one business day of providing the property information.
Within five days after receiving the cataLIST Cash Offer, the homeowner has the choice of accepting the offer or marketing the home for sale through the traditional listing process. If the sellers accept the cataLIST Cash Offer, the closing can generally occur in as few as 10 days, subject to obtaining clear title to the property. If the sellers do not accept the cataLIST Cash Offer, the offer will be automatically withdrawn, and the home will be marketed through the Coldwell Banker marketing program.
The cataLIST Program allows the homeowner the flexibility to work with a fully trained and licensed market expert. With many other cash offer models, consumers lose the value and expert opinion a top real estate professional brings to the table. The cataLIST Program gives sellers the advantage of working with the same agent regardless of whether they choose the cash offer option or customary marketing provided for in the listing agreement.
"Sellers who choose the cataLIST Cash Offer can benefit from the convenience of a quick sale without having to continue to pay tax, insurance, and mortgage for the property while its being marketed," said Bill Young, chief executive officer of Home Partners of America. "Additionally, sellers who accept the cataLIST Cash Offer can close any time within a 90-day window, making it easier to facilitate the move into a new residence. Sellers will have greater negotiating power on their next purchase knowing they have a cash contract on their existing home with a quick closing."
"The cataLIST Program gives agents the distinct advantage of being able to offer their customers either the great listing experience they have long provided or an alternative to the common sale model, one that is convenient and expedites the home sale process," said M. Ryan Gorman, president and CEO of NRT. "The cataLIST program keeps our independent agents at the center of the transaction and additionally arms them with a powerful tool to compete with iBuyer players in their marketplace."
The pilot program will launch in the Atlanta and Greater Dallas market areas in October and expand into Tampa markets through the remainder of 2018. Home Partners of America expects to continue to explore more opportunities with NRT across the U.S. in 2019.
About Realogy Holdings Corp. Realogy Holdings Corp. (NYSE: RLGY) is the leading and most integrated provider of residential real estate services in the U.S. that is focused on empowering independent sales agents to best serve today's consumers. Realogy delivers its services through its well-known industry brands including Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran Group®, ERA®, Sotheby's International Realty® as well as NRT, Cartus, Title Resource Group and ZapLabs, an in-house innovation and technology development lab. Realogy's fully integrated business model includes brokerage, franchising, relocation, mortgage, and title and settlement services. Realogy provides independent sales agents access to leading technology, best-in-class marketing and learning programs, and support services to help them become more productive and build stronger businesses. Realogy's affiliated brokerages operate around the world with approximately 192,000 independent sales agents in the United States and approximately 102,000 independent sales agents in approximately 115 other countries and territories. Realogy is headquartered in Madison, New Jersey.
About Home Partners of America Home Partners of America (HPA) is a proven, trusted company committed to helping more people own and live in homes in quality communities. By offering a clear path to homeownership through an easy process built on choice and flexibility, HPA's approach has provided meaningful benefits for prospective homeowners, the communities it serves, and the real estate community. Through innovative programs like cataLIST, HPA is bringing additional meaningful solutions to the marketplace.
Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements, other than those of historical fact, contained in this report are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including those discussed in Realogy's filings with the SEC. Any forward-looking statements speak only as of the date of this press release and, except to the extent required by applicable securities laws, Realogy expressly disclaims any obligation to update or revise any of them to reflect any changes in expectations or any change in events. For additional information concerning risks, uncertainties and other factors that may cause actual results to differ from those anticipated in the forward-looking statements, and risks to Realogy's business in general, please refer to Realogy Holdings Corp.'s SEC filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2017 and its Quarterly Report on Form 10-Q for the quarterly periods ended March 31, 2018 and June 30, 2018.