Realogy subsidiary NRT LLC is creating a new 650-agent, 22-office Coldwell Banker Real Estate brokerage in central Pennsylvania by merging a newly acquired Coldwell Banker affiliate with a nearby company-owned, ERA-affiliated brokerage.
The new Camp Hill, Pennsylvania-based firm will operate as Coldwell Banker Residential Brokerage in Central Pennsylvania. The firm is a combination of the second- and third-largest brokerages in the Harrisburg-York-Lancaster market, according to Real Trends stats.
An NRT subsidiary has acquired most of the assets of Harrisburg-based Realty Select Inc., which operated the second-largest brokerage in its market, Coldwell Banker Select Professionals.
NRT is combining the firm’s brokerage operations — nearly 360 agents working out of 11 offices — with Camp Hill-based Jack Gaughen Realtor ERA, the third-largest brokerage in its market, to create the new brokerage.
“This move is part of our long-term strategy to create near seamless coverage for our Coldwell Banker clients in Pennsylvania from Philadelphia to Pittsburgh, and I am confident that the affiliated sales associates will greatly benefit from this union,” said Bruce Zipf, president and CEO of NRT, in a statement.
The co-owners of Coldwell Banker Select Professionals, Quentin Miller and Ryan Hess, will both have positions at Coldwell Banker Residential Brokerage in Central Pennsylvania. Miller will serve as president of the new firm, and Hess will serve as vice president of strategic initiatives. Barbara Schmidt, the former president of Jack Gaughen Realtor ERA, will serve as senior vice president and general sales manager of the new firm.
“In addition to our continuing affiliation with an internationally recognized and respected brand, we will fully take advantage of the invaluable benefits of NRT’s state-of-the-art brokerage tools, technology and training, as well as expanded marketing exposure throughout the NRT family of companies,” Miller said in a statement.
Realty Select’s property management firm will become part of NRT’s new property management division launched in August.
Realty Select’s affiliated title and escrow company, Guardian Transfer Corp., was acquired by Realogy’s title wing, Title Resource Group.
NRT acquired Frank Howard Allen Realtors in California’s wine country in October 2013. It now does business as Coldwell Banker Residential Brokerage.
HomeServices of America Inc., the second-largest brokerage in the U.S. behind NRT, has also been on a buying spree, acquiring Silicon Valley-based giant Intero Real Estate Services in May and Philadelphia-based Berkshire Hathaway HomeServices Fox & Roach Realtors last year.