Carpenter President Tom Prall said he notified officials of GMAC, based in Oak Brook, Ill., in October that he would not renew his franchise agreement.
The five-year deal expires in February.Carpenter
is one of GMAC's 10 largest franchisees. Lane Barnett, president and chief executive of GMAC Real Estate's franchise business unit, said the company had decided not to renew its agreement with Carpenter because Prall would not embrace two new GMAC programs.
, however, said Carpenter
already connects its customers with mortgage and title services through its relationships with other companies.As for its customer service, Prall
's steady growth over its 35-year history.
"We've outgrown the need for our franchisor," Prall
is preparing a campaign to inform its clients of the name change.He
was surprised when GMAC issued a news release Thursday. Carpenter
ranks as the third-largest real estate brokerage in Indianapolis by sales volume, according to Realtor Magazine
, a publication of the National Association of Realtors