🠈 Realogy 🠊
Realogy is a franchise system for real estate agents. The company was created by the break up of the conglomerate Cendant in 2005.
Brands owned by Realogy include:
- Coldwell Banker,
- Century 21,
- Sotheby's International Realty,
- Better Homes and Gardens Real Estate,
- National Real Estate Trust
- and ZipRealty.
The company has thousands of local branches and franchises. I list a few of the branches in the Mountain West below.
Coldwell Banker was started in 1906 by Albert Nion Tucker, Colbert Coldwell and John Conant Lynch after an earthquake shook up the San Francisco real estate market. Benjamin Arthur Banker joined the firm in 1913 and the company adopted the name to Coldwell Banker after its two principle partners in 1914.
The company began expanding outside California in 1952 and began acquiring real estate businesses. It went public in 1981. The company was purchased by Sears in 1981 and became part of Sears Financial Services.
In 1989, Sears sold the commercial holdings of Coldwell Banker. This company is now called CBRE Group. NOTE: There are branches of Coldwell Banker such as Coldell Banker Worldwide which specialize in commercial real estate.
Century 21 is a real estate franchise system that was founded in 1971 by Art Bartlett and Marsh Fisher in Orange County, Ca.
The company was acquired by Trans World Corporation in 1979 then by MetLife in 1985. MetLife sold it to Cendant in 1995.
ERA Real Estate
ERA Real Estate was founded in 1972 as Electronic Realty Associates by Jim Jackson to use the latest developments in electronic communications (a fax machine) to streamline the real estate purchasing process. I am not sure how ERA became part of Cendant.
Sotheby's International Realty
Sotheby's International Realty was founded in 1976 by Sotheby's Auction House as a luxury real estate brand. The company formed a strategic alliance with Realogy in 2004 to develop a franchise system for selling luxury real estate.
Better Homes and Gardens Real Estate
Meredith Corporation, the publisher of Better Homes and Gardens® magazine, created Better Homes and Gardens Real Estate in 1978. They sold this company to GMAC Financial Services. GMAC had only a ten year lease on the name; In 2008 they leased the name to Realogy.
National Realty Trust
In 1996, HFS/Cendant found that it owned over 400 brokerage firms with a variety of different names. The company created National Realty Trust to hold these brokerages. These brokerages operate as franchises of the other divisions of the firm.
ZipRealty was founded in 1999 by Scott Kucirek and Juan Mini. The franchise system used the ZipRealty.com web site. It had an IPO in 2004. It was operating in 35 metropolitan areas in 2014 when it was acquired by Realogy. Realogy rebranded the technology as ZapLabs which is now available to other franchise units.
Local Branches and Franchises
Realogy has thousands of branches with hundreds of thousands of realtors. I list some of the ones I find in the Mountain West below:
- Wikipedia - Realogy (Drawn 12/30/2017)
- Phoenix Color - Real Estate: Coldwell Banker Home
- Denver Color - Realty Agents: Coldwell Banker Home
- Salt Lake Sites - Realty Agents: Coldwell Banker Home
- Vernal, Utah. US - Real Estate: RS West Real Estate
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