RISMEDIA, November 15, 2010—NRT LLC, one of the nation’s largest residential real estate brokerage companies and a subsidiary of Realogy Corporation announced that its Coldwell Banker Residential Brokerage company in the San Francisco Bay Area has acquired the assets of Cashin Company Realtors, one of the San Francisco Peninsula’s largest and most prestigious local brokerage companies. The seven-office, 270-agent firm will now operate under the banner of Coldwell Banker Residential Brokerage. With this announcement, Coldwell Banker Residential Brokerage in the San Francisco Bay Area now has more than 60 offices and 3,500 sales associates who accounted for more than $11 billion in sales volume last year.
“Cashin Company has long been synonymous with unparalleled personalized service and is also known for its agents’ in-depth knowledge of the highly coveted Peninsula real estate market,” said Bruce Zipf, president and CEO of NRT. “Not only does this move strengthen our position in the San Francisco Bay Area marketplace, we have gained a tremendously talented group of sales associates with a strong commitment to the community.”
Founded in 1995 by president Emmet J. “Skip” Cashin III, Cashin Company accounted for more than $1 billion in annual sales volume in the last 12 months. Both Cashin and Chuck Alloo, Cashin Company’s chief operating officer, will continue with Coldwell Banker Residential Brokerage in sales and management roles, respectively.
This move continues NRT’s strong trajectory of growth in the Bay Area under the leadership of Rick Turley, president of Coldwell Banker Residential Brokerage in the San Francisco Bay Area. Recent acquisitions have helped build on the company’s leading position in the Northern California real estate market, particularly in the luxury segment. Year-to-date, Coldwell Banker Residential Brokerage accounted for the sale of more than one out of every four properties priced above $3 million and one out of every three properties above $5 million in the Bay Area, according to MLS Listings.
Citing a natural fit between the two companies, Cashin said, “Coldwell Banker Residential Brokerage is the right choice in terms of both the scale and scope of its agent support, technological tools and networking opportunities as well as its culture of service excellence. Coldwell Banker is the premier real estate brand around the world and offers a robust marketing platform and extensive referral network that will help our sales associates achieve even greater results for their clients.”
For more information, visit www.realogy.com.
