November 09, 1999
GMAC, Homestore.com Enter Online Agreement
GMAC Mortgage, Horsham, PA, and its sister company GMAC Home Services yesterday announced they had entered into a $20 million marketing agreement and e-commerce alliance of up to three years with home and real estate information provider Homestore.com., Thousand Oaks, CA. The agreement will be worth up to $30 million over the three years and allow GMAC to expand its online services in real estate, relocation and home finance.
Through the agreement Homestore.com will provide Web-based services to support GMAC's real estate network and retail mortgage operations. GMAC, along with its home services-related affiliates, will secure a variety of advertising placements for their real estate and home finance products on Homestore.com's family of Web sites.