CEO: Real estate offices must shrink

SAN FRANCISCO -- The housing bust and technological change don't have to spell doom for the traditional real estate brokerage model, but companies that thrive will do so by boosting their presence in the virtual world while cutting costs associated with their brick-and-mortar operations.

That's the perspective of one executive, Sherry Chris, the president and CEO of Realogy Corp.'s ambitious bet on the traditional brokerage model, Better Homes and Gardens Real Estate LLC.

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