Costco, slow but sure? Message Board

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Non-Tech : Costco, slow but sure?

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To: WalleyB who wrote (328)	1/9/1998 10:26:00 AM
From: Paul K	Read Replies (1) of 1147

COMPANY TO WATCH San Fransisco Business Times, Wednesday, January 07, 1998 at 20:31 Costco Companies Inc. Along with oversized cartons of laundry detergent and jumbo portions of frozen ravioli, the discount warehouse chain will soon offer its 15 million card-carrying customers discounted realty services - upping the ante in the competitive residential brokerage marketplace. The bulk retailer based near Seattle is joining forces with AmeriNet Financial Systems, a Denver-based real estate and mortgages services company, and plans to roll out the program at its 90 California stores this spring. Already underway in Colorado and Arizona, the program provides Costco shoppers with a variety of loans and services through AmeriNet referrals. Agents referred via Costco will charge two-thirds of their normal commission, hoping to make up for the reduced rate through increased business. AmeriNet will take an undetermined cut for its cost and profit. What's left will be passed along to the member by Costco as a refund. Brokers said they didn't feel overly threatened - other discount programs have come and gone - but acknowledged that a new entrant with Costco's clout poses a competitive concern.

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