Realogy Corp. subsidiary NRT LLC has acquired Cashin Co. Realtors, a 270-agent firm on the San Francisco Peninsula that racked up $1 billion in sales in the last 12 months.
Cashin Co.’s seven offices will operate under the banner of Coldwell Banker Residential Brokerage, giving the brokerage 60 offices and 3,500 sales associates in the San Francisco Bay Area accounting for more than $11 billion in sales last year.
Based in Menlo Park, Cashin Co. was founded in 1995 by president Emmet J. "Skip" Cashin III, who will continue with Coldwell Banker in a sales role. Chief Operating Officer Chuck Alloo will take on a management role at Coldwell Banker, NRT said in a press release.
Over the past decade, in Northern California NRT has acquired Fox & Carskadon, TRI, Contempo, Del Monte Realty, Cornish & Carey Residential Real Estate and Pacific Preferred Properties Inc.
NRT was ranked by Real Trends as the nation’s largest residential real estate brokerage company in 2009, with 740 offices, 44,000 sales associates and 5,100 employees operating in more than 35 major metropolitan areas.
Realogy’s NRT-owned brokerages operate under the Coldwell Banker, ERA, Corcoran Group and Sotheby’s International Realty brand names.
Realogy also serves independently owned franchisees operating under the Century 21, Coldwell Banker, ERA, Sotheby’s International Realty, Coldwell Banker Commercial and Better Homes and Gardens Real Estate brand names.
Realogy’s newest franchise, Better Homes and Gardens Real Estate, has been signing up brokerages at a rapid clip this year.
In September, Better Homes and Gardens Real Estate announced a 20-year franchise agreement with Pleasanton, Calif.-based Mason-McDuffie Real Estate Inc., a former Prudential Real Estate brokerage with 1,900 agents working out of 36 offices in Northern California and Nevada.
Last week, Better Homes and Gardens Real Estate Mason-McDuffie announced the acquisition of Berkeley-based Keller Williams Realty Bay Area, where 85 agents hang their license. The merger of both companies’ Berkeley offices makes the company the city’s largest brokerage, the companies said.
Matt Cord, manager of Keller Williams’ Berkeley office, will take over the day-to-day operations of the Better Homes and Gardens Real Estate Mason-McDuffie Berkeley and Claremont offices as regional manager.
Better Homes and Gardens Real Estate announced Thursday that David Winans Real Estate, a four-office brokerage serving the Dallas-Fort Worth area formerly affiliated with GMAC Real Estate, has joined its network.
Also this week, Better Homes and Gardens Real Estate announced the addition of Myrtle Beach, S.C.-based Elliott Realty to its franchise network, which follows last month’s announcement of a franchise agreement with Charleston, S.C.-based brokerage The Beach Company.
The fast-growing franchise had previously announced agreements with seven brokerages with more than 1,000 agents:
- In March, Better Homes and Gardens Real Estate signed Houston-based Suzanne Anderson Properties, with more than 100 agents, and Florida 1st, which employs more than 300 sales associates in Florida’s Broward, Dade and Palm Beach counties.
- Two more brokerages came aboard in April — Las Vegas-based RE/MAX Associates, with two offices and 150 agents, and Real Estate III, a Charlottesville, Va.-based brokerage with 227 agents in nine offices.
- In May, Better Homes and Gardens Real Estate signed Bangor, Maine-based Town & Country Realtors, with nine offices and more than 100 agents.
- Rumson, N.J.-based Preferred Properties brought 20 agents and one office aboard in June.
- In July, Dayton, Ohio-based brokerage Big Hill, with 185 agents in eight offices in Ohio and Indiana, affiliated with Better Homes and Gardens Real Estate.