Brokerage

With acquisition, Midwest brokerage becomes nation’s largest Coldwell Banker franchise affiliate

Coldwell Banker Honig-Bell acquires 450-agent firm

Midwest brokerage Coldwell Banker Honig-Bell has acquired Wisconsin-based neighbor Coldwell Banker The Real Estate Group and its 450 agents and 18 offices.

With the new addition, Joliet, Illinois-based Coldwell Banker Honig-Bell now has approximately 1,300 agents and 53 offices and has become the nation’s largest Coldwell Banker Real Estate franchise affiliate by annual transaction sides. (Coldwell Banker, a brand owned by real estate behemoth Realogy, has larger affiliates through Realogy’s brokerage, NRT LLC).

Coldwell Banker The Real Estate Group’s agents, management team and branding will stay intact through the transition.

“Forming a brokerage of this size gives us an incredible advantage in that we now have more resources to invest in new technologies,” said Mike Prodehl, Coldwell Banker Honig-Bell’s president and CEO, in a statement. “Better technologies offer our clients greater marketing exposure in selling their home, and the most up-to-date information.”

In 2014, Coldwell Banker Honig-Bell represented buyers and sellers on 9,711 deals and Coldwell Banker The Real Estate Group represented clients on 7,754 deals, according to real estate consulting firm Real Trends.

Another large brokerage with a presence in the Midwest, Hanna Howard Real Estate, made a big acquisition this week. The Pittsburgh-based firm scooped up Rochester, New York-based Nothnagle Realtors and its 770 agents. It, too, will continue to operate its new firm under its existing brand.

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Email Paul Hagey.