Website www.coldwellbanker.com | Parent organization Realogy | |
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Key people Charlie Young, CEOBenjamin Arthur Banker, partnerColbert Coldwell, founder CEO Charlie Young (1 Sep 2016–) Founders Colbert Coldwell, Arthur Banker Subsidiaries Coldwell Banker Prestige Real Estate Profiles | ||
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.
Contents
History
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.
Home Listing Report
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.
Smart Home Marketplace Survey
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.
Awards & Recognition
Philanthropy
In 2006, Coldwell Banker started a "100 Homes" initiative to raise $5 million to support 100 Habitat for Humanity homes around the nation prior to the Coldwell Banker 100th anniversary. More than 130 homes had been committed, and more than $6.1 million had been raised for the year. The company was named as a finalists for the PRNews Corporate Social Responsibility award for the initiative. More recently, Coldwell Banker worked with Habitat for Humanity to help replace thousands of dollars worth of tools and other equipment that were stolen from an Evergreen, Calgary construction site.
In February 2015, Coldwell Banker joined forces with Adopt-a-Pet.com, to help find homes for more than 20,000 dogs.