Industry News

NRT acquires 40-office real estate franchise

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NRT Inc., the nation's largest residential real estate brokerage company, has acquired the assets of one of the largest Coldwell Banker franchisees in the country, NRT announced today. CMLB Ltd., which operates as Coldwell Banker Success Realty in Scottsdale, Ariz., will now be owned and operated by NRT. Coldwell Banker Success Realty was ranked among the top 20 companies nationwide on the industry's Real Trends 500 list in transaction sides and closed sales volume for 2004. During the last 12 months, Coldwell Banker Success Realty accounted for nearly $7 billion in total closed sales volume, NRT announced. The company operates 40 offices with 2,200 sales associates in various Arizona markets, including Phoenix, Scottsdale, Mesa and Tucson under the Coldwell Banker banner. In addition, the company has five offices and 150 sales associates in Santa Fe, N.M. operating under the French & French Sotheby's International Realty banner. "Extending NRT's presence into southwestern ...