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NRT Expands Two Regional Support Centers for 9 of Its Operating Companies

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RISMEDIA, August 14, 2008-NRT LLC, one of the nation’s largest residential real estate brokerages, announced the expansion of two major regional centers to include back-office support services for nine of NRT’s local brokerage companies that operate under the Coldwell Banker and ERA banners along the East Coast from Virginia to Maine. These local operating companies will be able to tap into the strength of a larger pool of talent and share best practices in the functional areas of marketing, finance, human resources, relocation and information technology from the newly formed Eastern Seaboard Support Center in Parsippany, N.J., and the Northeast Support Center in Waltham, Mass. The 324 local branch office locations in these regions and their current staffing levels will not be impacted by this transition.

According to the company, the move expands the resources available to each of the companies rather than having smaller, fragmented departments within the operating companies that required daily oversight by their local leadership teams. The regional support center model enables local leaders to focus on sales opportunities and growth and be more nimble and responsive to sales associates and clients.

Each of the nine local operating companies will continue to be led by their current presidents. Hal Maxwell, who previously served as regional senior vice president of the Mid-Atlantic region, which now becomes part of the Eastern Seaboard region, will be senior vice president and regional chief operating officer of the Eastern Seaboard Support Center located in Parsippany, N.J. Likewise, Jim McKeon, who was previously senior vice president for brokerage support, will now serve as senior vice president and regional chief operating officer of the Northeast Support Center in Waltham, Mass. Both Maxwell and McKeon will report to Maureen Passerini, formerly NRT’s regional senior vice president for the Eastern Seaboard, who will now serve as regional executive vice president for the Eastern Seaboard and Northeast regions.

“Moving to a regional support model benefits each of the nine companies by creating a larger support system that would previously have been unattainable on its own,” said Passerini. “NRT has successfully deployed a regional support model in its Coldwell Banker operations in Northern California, New England and the Mid-Atlantic as well as other parts of the company. As we monitored the market, we recognized that we had an opportunity to capitalize on the close geographic proximity of these nine NRT companies as well as an already established culture of sharing best practices by adopting this model. Now, by strengthening the back-office support of these individual companies, we are greater than the sum of our parts and ultimately better positioned to service our sales associates and their clients.”

The Northeast Support Center and the Eastern Seaboard Support Center will service NRT’s Coldwell Banker Residential Brokerage and ERA operations in Connecticut, Westchester County, N.Y., Maryland, Washington, D.C., Delaware, Pennsylvania, New Jersey and Long Island, N.Y., Rhode Island, Massachusetts, New Hampshire, Vermont and Maine, supporting 324 offices and approximately 16,400 sales associates.

For more information, visit www.nrtllc.com.

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