Industry News

Part 1: Cendant buys its way to the top

Company becomes industry leader

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Editor's note: Cendant Corp., and predecessor HFS, have changed the face of the real estate industry by ushering in an era of large-scale consolidation. The Coldwell Banker brand, which was acquired by Cendant predecessor HFS 10 years ago, has also been a driving force for industry consolidation and is the top real estate franchisor in the nation. Tomorrow, in Part 2, learn about the history of the Coldwell Banker brand, which celebrates its 100th anniversary this year.   Just over 10 years after Cendant's predecessor began a buying spree that included real estate brands Century 21, ERA, PHH and Coldwell Banker, the company's impact on the industry is undeniable.  With about 25 percent of all Realtors in the nation affiliated with the corporation, the story of the largest real estate brokerage and franchise company in the nation is still unfolding.   This story is packed with elements of mystery and intrigue, twists and turns, massive-scale acquisitions and consolidation...