September 19, 2007
William Raveisí Real Estate and Mortgage Divisions Rise Above the Competition
SHELTON, Conn. - William Raveis, chairman and CEO of William Raveis Real Estate, Mortgage & Insurance, recently announced that the company's year-to-date closed sales volume is up 10% throughout the state of Connecticut as of mid-August. Based upon data compiled from statewide multiple listing services, Connecticut's overall closed sales volume is down nearly 3% for the same period.

While other top competitors in Connecticut are reporting a decrease in sales volume, William Raveis Real Estate, Mortgage & Insurance reports positive changes in both sales volume and the number of closed units in comparison to figures from 2006. In Darien, the company's number of closed units is up 46.7%, and Greenwich posted a remarkable 106.9% increase. According to statewide data, compiled from various multiple listing services, the overall number of closed units is down more than 10% from last year.

In Fairfield County, William Raveis Real Estate leads the competition with a market share of over 15%. The company's closed sales volume has increased more than 20% since 2006.

"This impressive rise in market share corresponds to our company's ability to attract exemplary real estate professionals who can identify with our entrepreneurial spirit," said Raveis. "It can also be attributed to the phenomenal growth of our website, raveis.com, which attracts 4 million visitors annually. We are very proud of this achievement, and look forward to continued growth in 2008."

In 2007, raveis.com experienced a 29% increase in visits to the site. Referred to as "The Best Website in Real Estate," raveis.com also experienced a 33% increase in the number of hits over the past year, surpassing 550 million hits.

The William Raveis Mortgage division also reports positive numbers in 2007, despite nationwide news of a liquidity crisis in the mortgage banking business. Out performing the market, the firm's mortgage division has grown 40% in 2007.

"Our baseline strategy of providing quality loan programs and products that address the consumer needs for reliable and responsible lending has been validated by recent market trends," said Charlie Ferraro, president of William Raveis Mortgage. "We carry a portfolio of investors that are not exclusively Wall Street-driven and, therefore, are able to continue to provide responsible lending to qualified borrowers at competitive rates."

According to the Mortgage Bankers of America, the mortgage business is off by over 14% in 2007. William Raveis Mortgage is a full service mortgage banker providing access to over 6,000 different products and programs. The division underwrites and funds its own loans, enabling it to deliver superior service and execution, which has led to unprecedented growth in a declining market.

The William Raveis Family of Companies attributes its success to a consistent emphasis on integrity, service and experience. Offering one-stop shopping for its clients, William Raveis provides mortgage, insurance and closing/title services, all with the additional ability to earn points, services and cash back via the company's own Visa®/Bank of America credit card, a part of the William Raveis Rewards program. The firm's website, raveis.com, offers homebuyers property comparisons, price per square foot calculations, online appointment scheduling, online home value capabilities, interactive neighborhood mapping of all active and sold listings, relocation information and the ability to conveniently search more than 100,000 properties listed through various multiple listing services. With the recent launch of a new interactive widget and RSS technology, the site is now capable of delivering the latest customized listing and mortgage rate notifications directly to customers' computer desktops and favorite RSS readers. Annually, raveis.com attracts more than 5 million visitors worldwide.

William Raveis Real Estate, Mortgage & Insurance is New England's largest privately held, family-owned real estate firm. With a 2007 estimated sales volume of $5.5 billion, the innovative company is nationally recognized as an industry leader and is dedicated to providing an unparalleled real estate experience to its customers. Since 1974, the firm's 1,900 highly trained sales professionals have been dedicated to strengthening their position as industry leaders in technology, marketing and REALTOR® education. The company has 59 offices, including two affiliates, in Connecticut, Massachusetts and Rhode Island. Future plans entail expansion into New York, Vermont, New Hampshire and Maine.


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