RISMEDIA, October 22, 2010—Realogy Corporation, one of the largest providers of real estate and relocation services in the United States, announced an initiative* designed to help its franchisees grow their businesses and increase their market share through mergers, acquisitions and agent walk-overs from other firms. Realogy’s real estate franchise brands include these renowned brand names: Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA and Sotheby’s International Realty.
“Brokers today seem to fall mainly into two camps—those who are looking for assistance in growing their market share and those who are looking for exit strategies,” said Alex Perriello, president and CEO of the Realogy Franchise Group. “Our experience has shown that the best options for growth usually occur in the local market where synergies already exist between competing firms. We have the unique advantage of being the largest franchisor in the real estate industry and can assist in developing more solutions.”
The initiative is being spearheaded by the Realogy Franchise Group’s business development and franchise sales teams. Specifically, the key elements of the program include Realogy providing both its experience and financial resources to help its franchisees grow through mergers, acquisitions and other growth-related transactions. Through the first nine months of the year, the Realogy Franchise Group has helped its independently owned franchisees complete 75 growth-related transactions across the United States.
“We believe there is a window of opportunity for growth-minded brokers to act on a wealth of opportunities,” added Perriello, “and we are committed to helping our franchisees who are prepared for growth—regardless of company size—to capitalize on the current market conditions.”
“Each Realogy franchise brand has brought its own unique focus on helping its franchisees accelerate their growth via mergers and acquisitions,” said Phil Hugh, the Realogy Franchise Group’s executive vice president for franchise sales. “The bottom line is that we are providing our brokers with the resources—including funding for conversion costs and other related expenses—that they need to achieve their individual market growth objectives.”
Broker/owners who wish to discuss growth opportunities should contact Phil Hugh at 973-407-7570 or e-mail phil.hugh@realogy.com.
*Realogy’s brands act solely as franchisors and do not provide any financial advisory, brokerage, legal or accounting services with regard to franchisees’ growth-related transactions.
For more information, visit www.realogy.com.
