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                                                             Exhibit 99(a)(1)(I)

This announcement is neither an offer to purchase nor a solicitation of an offer
to sell Shares. The Offer is made solely by the Offer to Purchase dated August
14, 2002 and the related Letter of Transmittal and any amendments or supplements
thereto and is being made to all holders of Shares. The Offer is not being made
to (nor will tenders be accepted from or on behalf of) holders of Shares in any
jurisdiction in which the making of the Offer or the acceptance thereof would
not be in compliance with the securities, blue sky or other laws of such
jurisdiction or any administrative or judicial action pursuant thereto. However,
Purchaser may, in its discretion, take such action as it may deem necessary to
make the Offer in any jurisdiction and extend the Offer to holders of Shares in
such jurisdiction. In any jurisdiction where securities, blue sky or other laws
require the Offer to be made by a licensed broker or dealer, the Offer shall be
deemed to be made on behalf of Purchaser by Credit Suisse First Boston
Corporation ("Credit Suisse First Boston" or the "Dealer Manager") or one or
more registered brokers or dealers licensed under the laws of such jurisdiction.

Notice of Offer to Purchase for Cash
All Outstanding Shares of Common Stock
of
The DeWolfe Companies, Inc.

at

$19.00 Net Per Share

by

Timber Acquisition Corporation
an indirect wholly owned subsidiary of
Cendant Corporation


Timber Acquisition Corporation, a Massachusetts corporation ("Purchaser") and
indirect wholly owned subsidiary of Cendant Corporation, a Delaware corporation
("Cendant"), is offering to purchase all outstanding shares (the "Shares") of
common stock, par value $0.01 per share (the "Common Stock"), of The DeWolfe
Companies, Inc., a Massachusetts corporation (the "Company"), at a price of
$19.00 per Share, net to the seller in cash, without interest thereon, upon the
terms and subject to the conditions set forth in the Offer to Purchase dated
August 14, 2002 and in the related Letter of Transmittal (which, together with
any amendments or supplements thereto, collectively constitute the "Offer").


THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, NEW YORK CITY
TIME, ON WEDNESDAY, SEPTEMBER 11, 2002, UNLESS THE OFFER IS EXTENDED.

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The Offer is conditioned upon, among other things, there being validly tendered
and not withdrawn prior to the expiration of the Offer, that number of Shares
which, together with the Shares then owned by Purchaser and its parent company,
NRT Incorporated, a Delaware corporation ("Parent") and wholly owned subsidiary
of Cendant, represents at least two-thirds of the Shares outstanding on a
fully-diluted basis, assuming the exercise of all options, warrants, rights and
convertible securities outstanding at the time of acceptance of the Shares for
payment in the Offer (the "Minimum Condition"). The Offer is being made pursuant
to an Agreement and Plan of Merger, dated as of August 12, 2002 (the "Merger
Agreement"), by and among Parent, Purchaser and the Company. The Merger
Agreement provides that as soon as practicable after the completion of the Offer
and the satisfaction or waiver, if permissible, of all conditions contained in
the Merger Agreement, Purchaser will be merged with and into the Company, with
the Company being the surviving entity in such merger, or if Purchaser has
acquired at least 90% of the outstanding Shares of the Company, the Company will
be merged with and into Purchaser, with Purchaser being the surviving entity in
such merger (the "Merger"). At the effective time (the "Effective Time") of the
Merger, each Share then outstanding (other than Shares held by the Company or
any of its subsidiaries or by Parent, Purchaser or any other wholly owned
subsidiary of Parent and other than Shares, if any, held by stockholders who
perfect their appraisal rights pursuant to the Massachusetts Business
Corporation Law) will be cancelled and retired and converted into the right to
receive $19.00 per Share, net to the seller in cash, or any higher price per
share of Common Stock paid in the Offer (such price being referred to as the
"Offer Price"), in cash payable to the holder thereof, without interest, less
any required withholding taxes.

The Board of Directors of the Company, by unanimous vote, (1) has determined
that the terms of the Merger Agreement, the Offer and the Merger, taken
together, are advisable, fair to and in the best interests of the stockholders
of the Company, (2) has approved the Merger Agreement, the Tender and Voting
Agreements (as defined herein), the Option Agreement and the transactions
contemplated thereby, including the Offer and the Merger, and (3) recommends
that the stockholders of the Company accept the Offer and tender their Shares to
Purchaser pursuant to the Offer.

As a condition and inducement to Parent and Purchaser entering into the Merger
Agreement, certain stockholders of the Company (each, a "Stockholder"), who hold
dispositive power with respect to a total of 4,112,903 Shares (approximately 72%
of the total currently outstanding), entered into Tender and Voting Agreements
(each, a "Tender and Voting Agreement"), dated as of August 12, 2002, with
Parent and Purchaser. Pursuant to the Tender and Voting Agreements, each of the
Stockholders party thereto has agreed, among other things, to tender such
Stockholder's Shares in the Offer, and to grant Parent a continuing proxy with
respect to the voting of such Shares (i) in favor of the Merger or any other
transaction pursuant to which Parent proposes to acquire the Company for which
stockholders of the Company would receive consideration per share equal to or
greater than the consideration to be received by such stockholders in the Offer
and the Merger and (ii) against any action or agreement which would impede,
interfere with or prevent the Merger. Each Stockholder has also granted Parent a
continuing option (the "Option") to purchase for cash all, but not less than
all, of the Common Stock

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(including, without limitation, the Shares) beneficially owned or controlled by
such Stockholder as of the date of the Tender and Voting Agreements, or
beneficially owned or controlled by such Stockholder (including, without
limitation, by way of exercise of options, warrants or other rights to purchase
Common Stock of the Company as contemplated by the Tender and Voting Agreements
or by way of dividend, distribution, exchange, merger, consolidation,
recapitalization, reorganization, stock split or otherwise), by such Stockholder
(as adjusted as set forth in the Tender and Voting Agreements) at a purchase
price equal to $19.00 per Share or any higher price that may be paid in the
Offer or the Merger. Parent may exercise the Option, in whole or from time to
time in part, by notice given to such Stockholder at any time following (x) the
failure of such Stockholder to tender the Shares into the Offer no later than
the fifth business day following the commencement of the Offer or (y) any
withdrawal of such Shares prior to the termination of the applicable Tender and
Voting Agreement. Certain Tender and Voting Agreements are subject to a
termination provision providing that such agreements shall terminate immediately
upon the termination of the Merger Agreement.

Tendering stockholders who have Shares registered in their names and who tender
directly to Mellon Investor Services LLC, which is acting as the depositary in
the Offer (the "Depositary"), will not be obligated to pay brokerage fees or
commissions or, except as set forth in the Letter of Transmittal, stock transfer
taxes on the sale of Shares pursuant to the Offer. Stockholders who hold their
Shares through a broker or bank should consult such institution as to whether it
charges any service fees.

For purposes of the Offer, Purchaser will be deemed to have accepted for
payment, and thereby purchased, Shares properly tendered to Purchaser and not
withdrawn as, if and when Purchaser gives oral or written notice to the
Depositary of Purchaser's acceptance for payment of such Shares pursuant to the
Offer. Upon the terms and subject to the conditions of the Offer, payment for
Shares accepted for payment pursuant to the Offer will be made by deposit of the
Offer Price therefor with the Depositary, which will act as agent for tendering
stockholders for the purpose of receiving payment from Purchaser and
transmitting payment to tendering stockholders. Under no circumstances will
interest be paid on the Offer Price to be paid by Purchaser for the Shares,
regardless of any extension of the Offer or any delay in making such payment. In
all cases, payment for Shares accepted for payment pursuant to the Offer will be
made only after timely receipt by the Depositary of (i) certificates
representing such Shares (or a timely Book-Entry Confirmation (as defined in the
Offer to Purchase) with respect to such Shares), (ii) a Letter of Transmittal
(or facsimile thereof), properly completed and duly executed, with any required
signature guarantees, or, in the case of a book-entry transfer, an Agent's
Message and (iii) any other documents required by the Letter of Transmittal. The
term "Expiration Date" means 12:00 midnight, New York City time, on Wednesday,
September 11, 2002, unless and until, in accordance with the terms of the Merger
Agreement, Purchaser extends the period of time for which the Offer is open, in
which event the term "Expiration Date" means the latest time and date at which
the Offer, as so extended by Purchaser, expires. If on the then scheduled
Expiration Date, all conditions to the Offer under the Merger Agreement have not
been satisfied or waived, (x) Purchaser may, from time to time, in its sole
discretion, extend the Offer for one or more periods as Purchaser may determine
provided that no such extensions shall be made after the earlier of (1) the date
on which all Offer Conditions (as defined in the Offer to

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Purchase) shall have been satisfied or waived and (2) the Termination Date, (y)
Purchaser may, in its sole discretion, provide a "Subsequent Offering Period" in
accordance with Rule 14d-11 under the Exchange Act, and (z) if on the then
scheduled Expiration Date, there have not been tendered at least 90% of the
outstanding Shares, Purchaser may, in its sole discretion and notwithstanding
the prior satisfaction of the Offer Conditions, extend the Offer on one or more
occasions for an aggregate period of not more than 10 Business Days; provided,
that during such extension or extensions pursuant to this clause (z), Purchaser
will be required to waive the Offer Conditions other than the Minimum Condition
and other than the conditions set forth in paragraphs (d)(i) or (d)(ii) of
Section 14--"Certain Conditions of the Offer" to the Offer to Purchase. In
addition, Purchaser may increase the Offer Price and extend the Offer to the
extent required by any rule, regulation, interpretation or position of the SEC
or the staff thereof or any period required by applicable law, in each case in
its sole discretion and without the Company's consent. Any extension, amendment
or termination of the Offer will be followed as promptly as practicable by
public announcement thereof. Any such announcement in the case of an extension
will be issued no later than 9:00 a.m., New York City time, on the next business
day after the previously scheduled Expiration Date in accordance with the public
announcement requirements of Rule 14d-4(c) under the Exchange Act.

Shares tendered pursuant to the Offer may be withdrawn (pursuant to the
procedures set forth below) at any time prior to the Expiration Date and, unless
theretofore accepted for payment and paid for by Purchaser pursuant to the
Offer, may also be withdrawn at any time after October 13, 2002 until we accept
them for payment. No withdrawal rights will apply to Shares tendered into a
Subsequent Offering Period under Rule 14d-11 of the Exchange Act, and no
withdrawal rights apply during a Subsequent Offering Period under Rule 14d-11
with respect to Shares tendered in the Offer and accepted for payment. For a
withdrawal to be effective, a written, telegraphic or facsimile transmission
notice of withdrawal must be timely received by the Depositary at one of its
addresses set forth on the back cover of the Offer to Purchase and must specify
the name of the person who tendered the Shares to be withdrawn, the number of
Shares to be withdrawn and the name of the registered holder of the Shares to be
withdrawn, if different from the name of the person who tendered the Shares. If
certificates representing Shares have been delivered or otherwise identified to
the Depositary, then, prior to the physical release of such certificates, the
serial numbers shown on such certificates must be submitted to the Depositary
and, unless such Shares have been tendered by an Eligible Institution (defined
as a financial institution, including most commercial banks, savings and loan
associations and brokerage houses, that is a participant in the Security
Transfer Agent's Medallion Program, or any other "eligible guarantor institute,"
as such term is defined in Rule 17Ad-15 under the Exchange Act), the signatures
on the notice of withdrawal must be guaranteed by an Eligible Institution. If
Shares have been tendered pursuant to the procedures for book-entry transfer as
set forth in Section 3 of the Offer to Purchase, any notice of withdrawal must
also specify the name and number of the account at the appropriate Book-Entry
Transfer Facility (as defined in the Offer to Purchase) to be credited with the
withdrawn Shares and otherwise comply with such Book-Entry Transfer Facility's
procedures. Withdrawals of tenders of Shares may not be rescinded, and any
Shares properly withdrawn will thereafter be deemed not validly tendered for
purposes of the Offer. However, withdrawn Shares may be retendered by again
following one of the

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procedures described in Section 3 of the Offer to Purchase any time prior to the
Expiration Date. All questions as to the form and validity (including time of
receipt) of notices of withdrawal will be determined by Purchaser, in its sole
discretion, and its determination will be final and binding.

The receipt of cash for Shares pursuant to the Offer or the Merger will be a
taxable transaction for United States federal income tax purposes and may also
be a taxable transaction under applicable state, local or foreign tax laws.
Stockholders should consult with their tax advisors as to the particular tax
consequences of the Offer and the Merger to them, including the applicability
and effect of the alternative minimum tax and any state, local or foreign income
and other tax laws and of changes in such tax laws. For a more complete
description of certain U.S. federal income tax consequences of the Offer and the
Merger, see Section 5 of the Offer to Purchase.

The information required to be disclosed by paragraph (d)(1) of Rule 14d-6 of
the General Rules and Regulations under the Securities Exchange Act of 1934, as
amended, is contained in the Offer to Purchase and is incorporated herein by
reference. The Company has provided Purchaser with the Company's stockholder
lists and security position listings for the purpose of disseminating the Offer
to holders of Shares. The Offer to Purchase, the related Letter of Transmittal
and other relevant documents will be mailed by Purchaser to record holders of
Shares, and will be furnished by Purchaser to brokers, dealers, banks and
similar persons whose names, or the names of whose nominees, appear on the
stockholder lists, or, if applicable, who are listed as participants in a
clearing agency's security position listing, for subsequent transmittal to
beneficial owners of Shares.

The Offer to Purchase and the Letter of Transmittal contain important
information and should be read in their entirety before any decision is made
with respect to the Offer. Questions and requests for assistance or for
additional copies of the Offer to Purchase, the Letter of Transmittal, the
Notice of Guaranteed Delivery and all other tender offer materials may be
directed to the Information Agent or the Dealer Manager at their respective
addresses and telephone numbers set forth below, and copies will be furnished at
Purchaser's expense. Purchaser will not pay any fees or commissions to any
broker or dealer or other person (other than the Dealer Manager, the Depositary
and the Information Agent) for soliciting tenders of Shares pursuant to the
Offer.

The Information Agent and the Depositary for the Offer is:

MELLON INVESTOR SERVICES LLC

44 Wall Street, 7th Floor
New York, New York 10005
Call Toll Free: (888) 628-0006

The Dealer Manager for the Offer is:


Credit Suisse First Boston  LOGO  Here

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Eleven Madison Avenue
New York, New York 10010-3629
Call Toll Free: (800) 881-8320
August 14, 2002