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Coldwell Banker
From Wikipedia, the free encyclopedia
Coldwell Banker is a large real estate franchise owned by Realogy, which also owns Century 21 Real Estate and ERA Real Estate. The company was founded in 1906 in San Francisco after the 1906 San Francisco Earthquake by Colbert Coldwell as Tucker, Lynch, and Coldwell and is thus the oldest real estate company in the United States. In 1914 Benjamin Arthur Banker was invited to become a principal. In 1920 the company becomes Coldwell, Cornwell, and Banker. Bruce Cornwell resigned in 1940 and the company took its present name. The company expanded throughout, and in 1952 opened its first office outside California.
It changed from a partnership to a corporation in 1961 and had an initial public offering in 1968. In 1981 it was acquired by Sears Roebuck and grouped with its financial companies Allstate Insurance and Dean Witter in the Sears Financial Network. It was taken private again in 1993, and sold to HFS, Inc. (later Cendant) in 1996.
NRT Incorporated is the largest owner and operator of residential real estate brokerages in the United States with operations in more than 35 major metropolitan markets. Most operations are affiliated with Realogy’s franchise brands Coldwell Banker, ERA and Sotheby’s International Realty, though it also operates powerful regional and local brands such as The Corcoran Group and Citi Habitats, as well as a robust commercial brand Coldwell Banker Commercial. In the 2007 the Swanepoel TRENDS Report [1] Coldwell Banker was ranked as the #1 established real estate franchise brand in the country.
Coldwell Banker offices are independently owned franchises. As such the owners of a franchise defines the policies, practices and ethics of the office.