BrokerageIndustry News

Realogy boosts revenue, trims loss to $99M in 2010

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Real estate franchisor and brokerage company Realogy Corp. said it posted a net loss of $99 million in 2010, despite 4 percent growth in annual revenue, to $4.1 billion.Realogy's franchise group -- which licenses brand names including Century 21, Coldwell Banker and ERA to independently owned brokerages -- boosted domestic franchise sales by 56 percent in 2010, Realogy said in its annual report to investors, adding new franchisees and sales associates with $322 million in gross commission income.Realogy's NRT subsidiary acquired nine real estate brokerages with 23 offices and 1,000 sales associates generating $60 million in annual gross commission income.Realogy said that at year-end, there were 264,000 sales agents in its franchise system, working out of 14,700 offices in the U.S. and 99 other countries and territories worldwide. That figure includes 750 brokerage offices with 44,000 sales agents that are owned and operated by NRT.Realogy itself employed 10,500 workers at year-end, in...