RISMEDIA, October 6, 2010—NRT LLC, a subsidiary of Realogy Corporation, one of the nation’s largest residential real estate brokerage companies, has announced it has acquired the assets of Coldwell Banker Preferred in Philadelphia. According to the company, Coldwell Banker Preferred is a leader in the greater Philadelphia and northern Delaware marketplaces and was the third-largest independently owned Coldwell Banker franchise affiliate ranked by sales production in the brand’s award rankings for North America in the second quarter of 2010.
The company’s eight offices and 500 sales associates plus staff will continue to operate under the banner of Coldwell Banker Preferred as part of NRT’s Eastern Seaboard region. In addition, Regina Coia, president of Coldwell Banker Preferred, and the Coldwell Banker Preferred leadership team will remain in their current roles.
“Coldwell Banker Preferred, under the superb leadership of the late Harry Caparo, has secured an impressive and, indeed, enviable presence in the greater Philadelphia market over the last 30 years, and we are excited to expand our presence into this important real estate market,” said Bruce Zipf, president and CEO of NRT. “This move fits perfectly into our expansion model on the East Coast, creating seamless coverage area for our Coldwell Banker clients from Washington, D.C., to Maine.”
“This union with NRT was initiated by Harry before he passed away in August,” said Coia. “In addition to maintaining our affiliation with the Coldwell Banker brand, we will now be able to provide our clients with the invaluable benefits of NRT’s state-of-the-art tools, technology and training as well as expanded marketing exposure throughout the NRT family of companies. Combined with the experience, expertise and talents of our 500-strong sales force, this is certain to be a win-win for our sales professionals and their homebuyers and sellers, particularly since our companies clearly share the same culture of service excellence.”
In 2009, Coldwell Banker Preferred closed 3,160 transaction sides worth nearly $850 million in total sales volume. The company has been a member of the Coldwell Banker Chairman’s Circle since 1999. Chairman’s Circle status is the highest honor and most prestigious designation a company can achieve within the Coldwell Banker franchise system. In addition, Coldwell Banker Preferred was honored as the winner of the Cartus Cup in 2004 and is a two-time winner of the Cartus Master’s Cup (2008 and 2010) for highest overall performance and service delivery in the world’s top-performing broker relocation network.
For more information, visit www.nrtllc.com.