Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

Realogy Corp. posted a $259 million net loss for the first three months of the year, despite cutting $310 million in costs and generating $101 million in additional commission income from new franchise sales.Much of the loss -- $144 million -- was attributed to interest payments on the company's massive debt. But Realogy also saw revenue fall $354 million compared to the same period a year ago, as both home sales and commissions from those sales dropped sharply.At Realogy Franchise Group (RFG) -- which includes the newly launched Better Homes and Gardens Real Estate brand, along with CENTURY 21, Coldwell Banker, The Corcoran Group, ERA, and Sotheby's International Realty -- transaction sides and average home sales price were both down 15 percent.Transaction sides handled by RFG companies (...