NRT LLC, subsidiary of Realogy Holdings Corp., recently acquired Coldwell Banker United, REALTORS® in Texas, Florida, North Carolina and South Carolina. Coldwell Banker United has 60 offices and 2,000 affiliated sales associates, and will continue to operate under the Coldwell Banker brand as Coldwell Banker United, REALTORS®.
In 2014, the company accounted for approximately $5.8 billion in closed sales volume and over 23,400 transaction sides. According to the 2015 REAL Trends 500 report (based on 2014 data), Coldwell Banker United was ranked as the nation’s No. 7 brokerage by transaction sides and No. 11 by sales volume. Financial terms of the transaction were not disclosed, and no federal regulatory approvals were required in connection with this transaction.
“This announcement marks NRT’s entrance into important new markets and positions us to build on the success of Coldwell Banker United, REALTORS’ strong leadership team and the quality of its affiliated sales associates and employees,” says Bruce Zipf, president and chief executive officer of NRT LLC. “This is a strategic acquisition for NRT, within our time-tested and disciplined financial return criteria, and timely in that it comes at the start of the spring home-selling season.”
The acquisition strategically expands NRT’s Coldwell Banker presence in the nation’s second largest state, Texas, where it currently operates in Dallas/Fort Worth as Coldwell Banker Residential Brokerage. NRT is gaining 19 offices in Houston, 11 in Austin, and 3 near Dallas/Fort Worth.
This acquisition also connects NRT’s Eastern Seaboard presence contiguously from Maine to Florida with the addition of Coldwell Banker United, REALTORS’ 16 offices in North Carolina and South Carolina. The company ranks among the market leaders in Charlotte, N.C., and Columbia, S.C., in both transaction sides and sales volume.
NRT also welcomes Coldwell Banker United, REALTORS’ 11 offices in the Florida Gulf Coast, where the firm is ranked No. 1 by sales volume and transactions. NRT is already a leader across Florida with approximately 75 offices and more than 4,800 agents affiliated with Coldwell Banker Residential Real Estate in the following markets: Tampa/St. Petersburg, Sarasota/Bradenton, Fort Myers/Naples, Miami/Fort Lauderdale, Palm Beach, Melbourne and Orlando.
“This announcement positions the No. 1 Coldwell Banker independent affiliate to be part of the No. 1 residential real estate brokerage in the nation, and I personally take great pride in that,” says Coldwell Banker United, REALTORS’ founder Richard Smith (no relation to Realogy Chairman, Chief Executive Officer and President Richard A. Smith). “We have the same dedication to ethics, remarkable customer service, agent empowerment and community service that have been our hallmark over the past four decades, and I am highly confident our growth with NRT will continue to provide real estate consumers with outstanding value and service.”
Smith and his regional management team will continue with Coldwell Banker United, REALTORS. The company joined the Coldwell Banker brand in 1986 and has been ranked as the No. 1 Coldwell Banker independent affiliate by transaction sides since 2002. Coldwell Banker United, Realtors has been a member of the Cartus Broker Network since 1997. Cartus, a Realogy subsidiary, is the recognized industry leader in providing corporate relocation services to organizations worldwide.
For more information, visit www.realogy.com.
