Realogy is changing the name of its company-owned collection of real estate brokerages.
The group — made up of company-owned Coldwell Banker, Corcoran and Sotheby’s International Realty offices — will no longer be called NRT and, instead, will henceforth be known as Realogy Brokerage Group.
“As Realogy continues to transform from a holding company to a true operator of leading residential real estate brands, brokerages and businesses, we have made significant progress in simplifying our organization to focus on our core drivers,” Realogy President and CEO Ryan Schneider said in a statement. “Renaming our operating segments further streamlines how we communicate the real estate services we offer and amplifies the Realogy name across the primary work we do.”
As of the company’s third-quarter earnings, Realogy Brokerage Group had an agent count of 51,600. In the third quarter of 2019, those agents closed 92,399 transactions. The company will report its fourth-quarter and year-end results for 2019 on February 25.
It was the second largest brokerage by transaction sides in 2018, according to the Real Trends 500, trailing only HomeServices of America. The company was the leader in sales volume at $176 billion, in 2018, according to the Swanepoel Mega 1000.
The name change is not accompanied by any operational changes and will not impact the company’s go-to-market approach.
Realogy Franchise Group, which operates the franchise brands for Better Homes and Gardens Real Estate, Coldwell Banker, Century 21, Corcoran, ERA Real Estate and Sotheby’s International Realty, will continue to operate under the same name.