Industry News

Realogy reports network growth in 2007

ERA adds 52 franchises during year

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Despite the downturn in the U.S. real estate market, real estate brokerage and franchise company Realogy has reported expansion of its franchise networks in 2007. In an announcement today, Realogy announced that its Coldwell Banker brand entered nine additional countries in 2007, while adding 31 Coldwell Banker franchise affiliates. Also, the company announced that 56 existing Coldwell Banker franchises expanded operations through mergers or acquisitions in 2007. "We stated at the outset of 2007 that international growth and helping our U.S. affiliated companies grow market share was a priority," said Jim Gillespie, president and CEO of Realogy's Coldwell Banker Real Estate LLC, in a statement. He also stated that challenging U.S. market conditions have paved the way for local consolidation. The Coldwell Banker network has about 3,800 offices and 123,700 sales associates in 31 countries and territories, according to the announcement. Coldwell Banker Affiliates of Japan, whi...