RISMEDIA, March 9, 2007-The Realogy Franchise Group announced that Realogy and its Coldwell BankerR and Sotheby's International RealtyR brands have entered into multiple long-term franchising agreements with the Tomlinson Black Group of Companies, an independent real estate brokerage organization based in Washington and Idaho.
The agreements will enable Tomlinson Black to affiliate a number of its offices with the Coldwell BankerR and Sotheby's International RealtyR real estate brands, respectively. The affiliation will also provide the potential for Tomlinson Black to expand in additional locations under all Realogy brands, one of the world's largest real estate franchisors, including Coldwell Banker CommercialR, Century 21R, and ERAR.
In 2005, the Tomlinson Black Group reported more than 10,500 closed transaction sides with closed residential sales volume of $2.01 billion. Tomlinson Black was ranked 43rd among the top 500 real estate companies in the nation based on transaction sides according to REALTrends magazine, which was published in May 2006 with sales figures from calendar year 2005.
Tomlinson Black also ranked 79th in sales volume in the same publication. With 14 offices and more than 500 sales associates operating in various Washington and Idaho markets – from Moses Lake, Washington, to Spokane, Washington, and from Sandpoint, Idaho, to Lewiston, Idaho, Tomlinson Black's residential and commercial operations provide assistance in all areas of real estate.
"Tomlinson Black represents the largest affiliation in the Realogy Franchise Group's history," said Alex Perriello, president and CEO of the Realogy Franchise Group. "We pride ourselves on delivering value for the entrepreneurs and organizations that affiliate with our brands, and we look forward helping Tomlinson Black build on its already substantial business foundation in the Pacific Northwest."
"For 65 years, Tomlinson Black has steadfastly improved upon our operations and our service to our customers," said Bob Tomlinson of the Tomlinson Black Group. "We are entering into a long-term, strategic alliance with Realogy and its franchise brands to maintain our momentum in a changing marketplace and to infuse our company with greater access to technology, marketing programs, and a global clientele base. These new business relationships will enable us to rapidly expand in broader regional markets."
Fred Meyer, responsible for growth and development for Tomlinson Black, added, "We made strategic decision to affiliate our various offices with the individual Realogy brands that we felt would work best for our competitive advantage within the respective market areas served. This multi-brand approach was an option that was not available to us from anyone else, and we think it's a great fit."
Details of the franchise agreements were not disclosed and are not expected to have a material impact on Realogy's financial results.
For more information, visit www.realogy.com.
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