GMAC Home Services’ President and CEO John Bearden today announced that Lane Barnett, a real estate industry veteran with nearly two decades of experience, has been named president and CEO of the GMAC Real Estate Franchise Business Unit, which includes more than 1,300 offices throughout the United States, Canada and Puerto Rico.
Barnett was formerly executive vice president, Support Services Group. He joined GMAC Home Services in 2002 as executive vice president of marketing and communications. He played a central role in increasing the company’s reputation and visibility, as well as developing and rolling out the company’s Premier Service business program to the company’s 23,000 sales associates. Barnett is well acquainted with building franchise operations: from 1988-1996, while at Coldwell Banker Corp., he was instrumental in helping that company grow more than tenfold during his tenure: from 225 offices and 3,000 real estate agents in 1988, to 2,500 offices and more than 54,000 agents in 1996, according to a company statement.
Bearden’s vision aims to transform GMAC Home Services into the first-of-its-kind national home services company that seamlessly provides brokerage, mortgages, title and closing services, and insurance and home warranties. Additionally, Bearden and his team have set forth lofty international initiatives: for the first time ever, GMAC Real Estate will franchise offices outside the United States and Canada in 2004 and he has already set into motion plans to expand GMAC Global Relocation Services’ global service offerings.
In an effort to keep pace with the company’s growth and major international opportunities, Bearden also announced four additional senior executive promotions from within: Johnny Elliott is now executive vice president of new business acquisitions, and Brian Peterson is chief financial officer, respectively, of GMAC Home Services; Judy O’Brien has been named executive vice president and chief operating officer of GMAC Real Estate’s Company-Owned Business Unit; and Maggie Ryan is senior vice president of global services for GMAC Global Relocation Services.
Elliott, a 30-year real estate industry veteran, previously served as executive vice president of GMAC Real Estate’s Franchise operation. In this new position, he will be responsible for acquisitions, new business development and developing other non-brokerage business opportunities for GMAC Home Services.
Peterson was chief financial officer of GMAC Real Estate’s Company Owned business unit. He is now responsible for the financial operations of the four business units that comprise GMAC Home Services. He has been with the company since 1998.
O’Brien, formerly chief administration officer for GMAC Home Services is now executive vice president and chief operating officer of GMAC Real Estate’s Company-Owned Business Unit, the seventh largest real estate brokerage company in the United States.
Ryan, a seasoned relocation industry executive of nearly two decades, formerly served as senior vice president, international services. In her new role, she is responsible for global customer and client service centers in the Americas, Asia Pacific, and EMEA. This includes all domestic relocation services as well as international relocation and assignment management services.
GMAC Home Services is one of North America’s largest real estate organizations, operating through its four operating companies: GMAC Real Estate Franchised Offices; GMAC Real Estate Company Owned Offices; GHS Mortgage and GMAC Global Relocation Services.