RISMEDIA, Jan. 24, 2007-Coldwell Banker Real Estate Corporation has announced that 92 Coldwell Banker® affiliated companies expanded their operations by opening 118 new offices through expansion or merger/acquisitions in 2006. Additionally, the Coldwell Banker system also added 31 new affiliate companies during the past year. Internationally, more than 100 Coldwell Banker offices were opened in 2006, including in Japan for the first time.
In the United States, Coldwell Banker Real Estate Corporation expanded its footprint in 33 states, with California and Florida seeing the most additions with 20 and 13 office openings, respectively. The Coldwell Banker system expanded significantly in the southern states from Virginia to Texas with 54 new offices opened in 2006.
"The real estate market underwent change in 2006, but what did not change was the success of the Coldwell Banker brand," said Jim Gillespie, president and chief executive officer for Coldwell Banker Real Estate Corporation. "We celebrated the brand's 100thanniversary last year and continually adapt to the changing needs of the consumer and affiliated companies. We are committed to adding affiliated companies that are leaders in their markets and helping our existing franchisees grow and increase profitability. That is happening with regularity."
Amidst the flurry of growth activity taking place within the system, the three largest mergers/acquisitions and additions to the Coldwell Banker System by gross commission income in 2006 were:
– Coldwell Banker Schmidt Realtors, Inc., led by CEO Ken Schmidt, merged with Woodland Realty and AJS Realty in western Michigan.
– Coldwell Banker Incline Village Realty, led by president and CEO Tom Clydesdale, merged with Tanager Realty in Nevada's Lake Tahoe region.
– Coldwell Banker Armstrong Properties, located in Riverside and Corona, Calif., and led by president Terry Armstrong Hardke, joined the network in January 2006.
Coldwell Banker affiliates continue to benefit from the value proposition of the global brand network. Terry Armstrong Hardke, president of Coldwell Banker Armstrong Properties, brought her company into the Coldwell Banker system in 2006 after a four-decade run as a leading independent.
"We have been a family-owned company since 1963, and we joined the Coldwell Banker system because of the wonderful opportunities with technology, national and international networking and the great reputation the brand has," said Armstrong Hardke. "So far it has been a great fit. We love the support that the Coldwell Bankerbrand offers and have taken advantage of the educational courses and enrichment opportunities."
For more information, visit www.coldwellbanker.com.
