COLDWELL BANKER AFFILIATED COMPANIES IN U.S. AND CANADA INCREASED MERGER/ACQUISITION ACTIVITY BY 71 PERCENT IN 2008; BRAND ALSO ADDED 22 NEW COMPANIES IN 2008
Vietnam and St. Kitts Office Openings Increased International Presence Last Year
PARSIPPANY, N.J. (March 9, 2009) – The downturn in the real estate market provided opportunities for 96 Coldwell Banker® affiliated companies in the United States and Canada that increased their size and scope in 2008 through mergers and acquisitions.
The Coldwell Banker system added 22 new companies in the U.S. and Canada including Coldwell Banker Integrity (Rancho Cucamonga, Calif.), Coldwell Banker Select Professionals (Lancaster, Penn.) and Coldwell Banker Castle Pines (Castle Rock, Colo.)
Coldwell Banker branded international franchisees also opened offices in Vietnam and St. Kitts.
“I remain bullish on housing and the success of the Coldwell Banker brand,” said Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate LLC. “Yes, market and economic conditions have reduced the number of homes sold and home prices nationally, but our continued work to renew our affiliated companies, help them grow in size, scope and profitability and at the same time continuously add new affiliates speaks extremely well for what our great brand stands for.”
Gillespie pointed out that the merger/acquisition activity was 71% higher than in 2007 and was highlighted by activity at: Coldwell Banker United (Bryan, Texas); Coldwell Banker Hubbell Briarwood (Lansing, Mich.); and Coldwell Banker Select (Tulsa, Okla.).
“We continually stressed to Coldwell Banker affiliated companies that merger/acquisitions in this market represent a great opportunity to increase market presence,” Gillespie said. “In many cases our corporate staff helped by conducting seminars and one-on-one consultations to assist in the negotiations that took place, but the credit goes to the broker/owners who aggressively sought to make deals and then integrate the newly joined sales associates and management teams.”
Locally, The attitude is infectious; with 100% growth in agents and 200% growth in offices, Coldwell Banker now serves Lancaster, York, Lebanon, Dauphin & Cumberland Counties with real estate, mortgage & title service that is second to none. Ryan Hess, CEO of Coldwell Banker Select Professionals, praised the organization's accomplishments. "We're poised for more significant growth in 2009 - despite the tough climate. It's a great team."
Coldwell Banker is always looking to talk to top real estate agents in Central Pennsylvania about their future business growth by partnering with the #1 real estate brand in the United States. Contact Colleen Johns at email@example.com for more information and for upcoming career nights in all four offices.
Coldwell Banker Select Professionals, based at 1000 North Prince Street in Lancaster and with additional offices in Lebanon, Hershey & York can be reached at 717-735-8400 or at www.cbselectpros.com. Coldwell Banker Select Professionals serves the Lancaster PA real estate, York PA real estate, Hershey PA real estate, Lebanon PA real estate markets with local offices and agents.