Coldwell Banker Real Estate Corp. announced today that the franchise system added 31 affiliates in 2006, and 92 affiliates opened 118 new offices through expansion or mergers and acquisitions.
Internationally, more than 100 Coldwell Banker offices opened in 2006, including the first offices in Japan.
In the United States, Coldwell Banker Real Estate Corp. expanded its presence 33 states. Twenty offices were added in California, and 13 new offices opened in Florida, the company reported.
The Coldwell Banker system added 54 new offices in the South in 2006.
Jim Gillespie, president and chief executive officer for Coldwell Banker Real Estate Corp., said in a statement, “We celebrated the brand’s 100th anniversary last year and continually adapt to the changing needs of the consumer and affiliated companies. We are committed to adding affiliated companies that are leaders in their markets and helping our existing franchisees grow and increase profitability. That is happening with regularity.”
The three largest mergers and acquisitions and additions to the Coldwell Banker System by gross commission income in 2006 were:
- Coldwell Banker Schmidt Realtors Inc., led by CEO Ken Schmidt, which merged with Woodland Realty and AJS Realty in western Michigan.
- Coldwell Banker Incline Village Realty, led by president and CEO Tom Clydesdale, which merged with Tanager Realty in Nevada’s Lake Tahoe region.
- Coldwell Banker Armstrong Properties, which joined the network in January 2006 and operates from offices in Riverside and Corona, Calif., is led by president Terry Armstrong Hardke.
The Coldwell Banker network has about 3,800 residential real estate offices and 123,700 sales associates in 31 countries and territories. Coldwell Banker Real Estate Corp. is a part of Realogy, a publicly traded company created last year through a spin-off of Cendant Corp.’s real estate division.