Realogy Corp. subsidiary NRT LLC has taken over one of its formerly independently owned real estate brokerage affiliates, the company announced Tuesday.

NRT operates Realogy’s company-owned brokerage offices. It has acquired Coldwell Banker Preferred in Philadelphia, which has eight offices and 500 sales associates. The brokerage’s name will remain Coldwell Banker Preferred and its executive team, including its president, will stay in their current positions.

"In addition to maintaining our affiliation with the Coldwell Banker brand, we will now be able to provide our clients" with NRT’s "tools, technology and training as well as expanded marketing exposure throughout the NRT family of companies," said Regina Coia, president of Coldwell Banker Preferred, in a statement.

This year, Coldwell Banker Preferred was ranked the 131st largest in the country by closed transaction sides completed in 2009, according to Real Trends.

The brokerage closed 3,160 transaction sides worth nearly $850 million in total sales volume in 2009 and, ranked by sales production, was the third-largest independently owned Coldwell Banker franchise affiliate in this year’s second quarter, the announcement said. The brokerage covers the greater Philadelphia and northern Delaware markets.

"We are excited to expand our presence into this important real estate market," said Bruce Zipf, president and CEO of NRT, in a statement. "This move fits perfectly into our expansion model on the East Coast," he said.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription