Coldwell Banker
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Formerly called
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Sears Financial Network (1981–1993) |
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| Subsidiary of Realogy | |
| Industry | Real estate |
| Founded | San Francisco, California (August 27, 1906) |
| Headquarters | Madison, New Jersey, United States |
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Key people
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Charlie Young, CEO Benjamin Arthur Banker, partner Colbert Coldwell, founder |
| Parent |
Sears (1981–1993) Hospitality Franchise Systems (1996–2006) Realogy (2006–present) |
| Website | www |
Coldwell Banker Real Estate LLC is an American real estate franchise owned by Realogy with headquarters in Madison, New Jersey. It was founded in 1906 in San Francisco, and has approximately 3,000 offices in 43 countries and territories.
After the devastating 1906 San Francisco earthquake and fires, Colbert Coldwell and two partners formed Tucker, Lynch and Coldwell on August 27, 1906. Benjamin Arthur Banker joined the firm as a salesman in 1913, and became a partner in 1914. The company was renamed Coldwell Banker in the same year. Banker and Coldwell remained active in the company throughout their lives.
In 1920 Coldwell Banker moved to a three-story building in San Francisco. It opened an office in Phoenix, Arizona, its first outside California, in 1952. In the 1970s the company expanded by acquiring firms in Atlanta, Chicago, and Washington, D.C. The first international Coldwell Banker office opened in Toronto, Canada in 1996.
Coldwell Banker became a corporation in 1961, and went public in 1968. In 1981 it was bought by Sears, Roebuck, and became part of the Sears Financial Network. Sears sold it to the Fremont Group, a California investment company, for $230 million in 1993. It was sold to HFS Inc., later Cendant, in 1996. When Cendant broke up in 2006, the real estate businesses were spun off as Realogy, which was sold to Apollo Management for about $7.75 billion.
Coldwell Banker analyzes data from more than 81,000 similar-sized four-bedroom, two-bedroom homes in over 2,700 real estate markets nationwide and publishes the findings in its annual Home Listing Report. The report serves as a guide for determining most affordable and most expensive housing markets.
In 2015, Coldwell Banker and CNET polled more than 4,000 Americans, and found that 45 percent of all Americans either own smart home technology or plan to invest in it in 2016. With this research Coldwell Banker is aiming to be the conduit between these technology manufacturers and home buyers and sellers as more homeowners are adopting smart home technology, that will likely impact buyers' purchase decisions in the future. The findings from the survey also show that adoption of smart home products is higher among millennials, with more than half embracing the technology, and parents of young children are twice as likely to install smart home products than non-parents.
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Wikipedia