Foxtons, the 2% Real Estate Company, Sets New Growth Records

Business Wire, Sept 8, 2003

Business Editors/Real Estate Writers

WEST LONG BRANCH, N.J.--(BUSINESS WIRE)--Sept. 8, 2003

Foxtons set new records by listing over a quarter billion dollars worth of property in August. Glenn Cohen, CEO, attributes the success to "the dedication of our 300 agents." Cohen says, "The company's emphasis is on having Top Local Agents that specialize in selling a particular area." When asked about the growing inventory, Cohen responded, "Smart sellers are listing their homes to take advantage of the strong Fall selling season and the exceptionally strong housing market. Ninety percent of the time our homes sell faster with our own agents marketing them than those listed through a Multiple Listing Service." The current average selling time for properties sold by Foxtons is 39 days.

Home sellers continue to be amazed at the results of Foxtons' aggressive marketing techniques. As soon as a Top Local Agent lists the property a professional photographer visits the home. The photographers are able to capture all the interior details and create a panoramic virtual tour of all the rooms in the house.

The next step is to get the property in the newspaper and on its website, www.Foxtons.com. With over one million visits a month it is one of the most popular websites of its kind on the east coast. It is no wonder, since buyers can use the Foxtons website to search over 4,500 homes by ZIP code, street address, or map. Many buyers use Foxtons' new advanced feature, which allows them to quickly and easily select options for their property search. Another advanced feature available on the website is the Foxtons Wizard, which automatically sends buyers an e-mail alert as soon as a Top Local Agent lists a new property that matches any criteria the buyer specifies.

Foxtons' local marketing doesn't stop there. Each seller is provided with magazine-quality brochures featuring multiple color photographs and information that describes in detail the features of the home. The brochures are distributed using curbside brochure boxes which are unique to Foxtons. Another technique Foxtons uses to get homes sold quickly is the use of postcards mailed to potential buyers in the area. These stunning high gloss postcards are of exceptional quality similar to the ones found in tourist gift shops. Foxtons backs this tremendous exposure with a comprehensive marketing campaign that has an annual budget of more than $10 million.

Foxtons Financial, the mortgage arm of the parent company, further assists in the aggressive selling process by providing Foxtons' buyers with the guaranteed lowest mortgage rate in the region. With few exceptions, sellers insist on buyers being pre-qualified by a mortgage company before being allowed to make an appointment to visit the property. Once the buyer makes an offer on the property, Foxtons' sellers can further protect themselves by requesting the buyer seek full mortgage approval prior to the seller accepting their offer. To help make the process convenient, Foxtons Financial is open seven days a week and Mortgage Specialists stay as late as 9 pm every night.

For more information on listing or buying a home you can call Foxtons toll free number 1-800 CALL FXT (1-800-225-5398) seven days a week or visit the company's website www.Foxtons.com.