Cendant Corporation completed the spin-off of their real estate services division on August 1. The new entity Realogy will be traded on the stock market under the symbol "H" for homes. The individual share prices closed slightly down on Wednesday. According to Inman News, "the new company is the world's largest residential real estate brokerage franchisor, the largest U.S. residential real estate brokerage firm, a provider of relocation services, and a provider of title and settlement services. Realogy's real estate brands include Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA, and Sotheby's International Realty."
World's largest makes them pretty big. Minnesotans, of course, thought Burnet was the big cheese before they became Coldwell Banker Burnet, obviously only a small wedge of the bigger Coldwell Banker cheese. My guess is the individual franchises will continue to work as though this corporate change hadn't happened, and the public won't even notice the difference!
(c) Bonnie Erickson 2006
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