About Coldwell Banker Residential Real Estate
Realogy Holdings is one of the largest franchisors of residential real estate offices in the world with about 18,500 offices in around 115 countries. Its brands include Century 21, Coldwell Banker, ERA, Better Homes, and Gardens Real Estate, and Sotheby's. In addition to franchising, the company owns and operates about 705 offices under those brands and the Corcoran Group. It also provides title, and settlement services and mortgages. In 2019, the company agreed to sell its global employed relocation business or Cartus Relocation Services, held by Cartus Corporation.
Realogy Holdings operates through the four business segments: Realogy Brokage Group, Realogy Franchise Group, Realogy Title Group, and Realogy Leads Group.
Realogy Brokerage Group provides some 75% of sales. The segment houses the company's real estate brokerage business under the Coldwell Banker, Corcoran, and Sotheby's International Realty brands in many of the largest metropolitan areas in the US. It also has relationships with developers, primarily major cities, to provide marketing and brokerage services in new developments.
Realogy Franchise Group generates about 15% of the company's revenue. It franchises the Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA, Sotheby's International Realty, Corcoran, and Better Homes and Gardens Real Estate brand.
Representing around 10% of Realogy's revenue, Realogy Title Group offers full-service title and settlement services to real estate companies, affinity groups, corporations, and financial institutions. Those services are often rendered in conjunction with the company's real estate brokerage and relocation business.
Realogy Leads Group accounts for less than 5% of total revenue. Consists of affinity programs (both company-and client-directed) as well as broker-to-broker referrals.
More than 75% of the company's revenue derives from gross commission income; about 10% comes from services and more than 5% comes from franchise fees.
Based in Madison, New Jersey, Realogy operates through 18,500 offices in about 115 countries.
Sales and Marketing
Realogy's franchise system has approximately 302,000 independent sales associates worldwide, including more than 190,000 independent sales agent in the US. Its largest brand is Century 21, with roughly 8,800 global offices and about 122,000 brokers and agents. Its other brands include Coldwell Banker, Coldwell Banker Commercial, Era Real Estate, Sotheby's International Realty, NRT, Citi Habitats, and Better Homes and Gardens Real Estate.
In tandem with the strengthening US housing market, Realogy's revenue grew steadily for the last several years until 2018 when it ticked down 1% compared to the year prior. Since 2015, its net income has slipped 4% due to a large reduction in 2018.
Realogy's revenue fell to $5.6 billion in 2019 compared to $5.8 billion in 2018, primarily driven by lower homesale transaction volume at Realogy Brokerage Group.
The company's net loss slid 237% to $188 million that year due to the weakened revenue combined with a 132% income tax benefit, lower commission and agent-related costs, restructuring costs, and interest expense.
Realogy added $28 million to the top of its cash in 2019. Operations contributed $371 million. Financing activities—mainly common stock repurchases—used $215 million; the company spent $128 million on investments, primarily additions to property and equipment.
Embracing the rapidly expanding role of new technologies in business applications, Realogy Holdings' strategy in recent years has centered on launching software platforms that improve the productivity of its independent sales associates.
In 2019 the company announced that it would begin offering two new technology platforms to its agents: OfferBOOST and Fast Track. OfferBOOST facilitates cash home buying by qualified buyers. Fast Track speeds closings to as little as a week by preparing house-specific mortgage and title work in advance. Realogy launched its Social Ad Engine in partnership with Facebook that year. The program generates ads for agents' listings on social media based on users' data analytics. The company also announced a partnership with OJO Labs through which it is introducing an AI-driven mobile and digital customer support assistant.
Realogy partnered with Home Partners of America in 2019 to launched RealSure Sell and RealSure Mortgage. RealSure is a new way for consumer to sell and buy their home. RealSure Mortgage allows a seller, who is enrolled in RealSure Sell, to confidently make an offer on their next home before their current one is sold by leveraging their RealSure Sell cash offer.
At the beginning of 2018 the company began a restructuring which included senior leadership realignment, an enhanced focus on technology and talent, as well as further attention to office footprint and other operational efficiencies. The company also expanded its franchise lineup in 2018 with the additions of Corcoran and Climb Real Estate.
In 2012 Realogy Holdings raised $1 billion in its IPO, a vote of confidence in the recovery of the residential real estate market in the US. Realogy used the IPO proceeds to reduce its more than $7 billion in debt. Despite losing $540 million in the two years prior to its IPO, the firm believed the real estate market was poised for recovery. Its strategy included growing all segments of its business though it offered no specifics on that front. The company's name changed from Domus to Realogy in 2012.
27271 Las Ramblas
Mission Viejo, CA 92691-8041
Phone: 1 (949) 367-1800
Employer Type: Privately Owned
Pres: Robert Becker
Realtor And Sales Associate: Jan Palya
Realtor: Chantal Sejour
Employees (This Location): 410
Employees (All Locations): 8,000
Mission Viejo, CA