Coldwell Banker
Parent Sears (1981–1993) | Fremont Group (1993-1996) Cendant (1996–2006) Anywhere Real Estate (2006–present) | |
Website | coldwellbanker |
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Coldwell Banker Real Estate LLC is an American real estate franchise owned by Anywhere Real Estate, with headquarters in Madison, New Jersey. It was founded in 1906 in San Francisco,[1] and has approximately 3000 offices in 49 countries and territories.[2] It publishes an annual house price guide, Home Listing Report.[3][4]
History
After the devastating 1906 San Francisco earthquake and fires, Albert Nion Tucker, Colbert Coldwell and John Conant Lynch formed Tucker, Lynch and Coldwell on August 27, 1906.[5] Benjamin Arthur Banker joined the firm as a salesman in 1913, and became a partner in 1914. The company changed its name to Coldwell, Kern & Banker in 1918. In 1919 the name became Coldwell, Kern, Cornwall & Banker, and in 1920, Coldwell Cornwall & Banker. Cornwall retired in 1940, and the company name changed again to Coldwell, Banker & Company, which was shortened to Coldwell Banker in 1974. Banker and Coldwell remained active in the company throughout their lives.[5][6]
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.[6] 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.[6]
Coldwell Banker & Company became a corporation in 1961, and went public in 1968. In 1981 it was bought by
Sears sold Coldwell Banker's surviving residential unit to the Fremont Group, a California investment company, for $230 million in 1993.[10] It was sold to HFS Inc., later Cendant, in 1996.[11][12] 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.[13] In 2022, Realogy rebranded as Anywhere Real Estate, Inc.
Philanthropy
In 2006 helped to raise $5 million to support 100 Habitat for Humanity homes to commemorate its 100th anniversary.[14] In February 2015 it collaborated with Adopt-a-Pet.com, a dog adoption website.[15]
See also
References
- ^ "2011 Franchise Report" (PDF). Realtor.org. Retrieved October 22, 2015.
- ^ Heffernan, Shayne. "US Real Estate: High Demand for $10+ Million Homes". Live Trading News. Archived from the original on 2015-10-08. Retrieved October 22, 2015.
- ^ Stone, Madeline (November 10, 2015). "Here's what a four-bedroom home looks like in America's most expensive markets". Business Insider. Retrieved November 24, 2015.
- ^ Nicks, Denver (November 10, 2015). "The 8 Most Expensive Cities to Buy a House Are All in This State". Money.com. Retrieved November 24, 2015.
- ^ a b Raine, George (February 18, 2006). "Up from the ashes / Coldwell Banker began in the 1906 rubble of San Francisco". SF Gate. Retrieved October 22, 2015.
- ^ a b c d "A Brief History of Coldwell Banker". The Playa Times. April 16, 2015. Archived from the original on 2015-05-25. Retrieved October 22, 2015.
- ^ Cole, Robert J. (October 9, 1981). "Sears Will Purchase Dean Witter In Plan To Offer Financial Services". New York Times. Retrieved October 22, 2015.
- ISSN 0458-3035. Retrieved 2019-07-09.
- ^ Rudd, David C. "SEARS' COLDWELL BRINGS $300 MILLION". chicagotribune.com. Retrieved 2019-07-09.
- ^ Granelli, James S. (October 6, 1993). "Sears Completes Sale of Coldwell to Fremont Group". Los Angeles Times. Retrieved October 22, 2015.
- ^ "Company Overview of HFS Incorporated". Bloomberg Business. Retrieved October 22, 2015.
- ^ McDowell, Edwin (May 3, 1996). "HFS Agrees to Acquire Coldwell Banker for $640 Million". New York Times. Retrieved October 22, 2015.
- ISBN 9780970452375.
- ^ "Coldwell Banker marks 100 years NYSE bell ringing part of anniversary celebration". The Times-Union. August 26, 2006. Archived from the original on December 12, 2017. Archived December 12, 2017.
- ^ Lotz, Kristina (February 18, 2006). "Boy With Painful Disease Meets Abused, Abandoned Dog And Their Lives Change Forever". I heart dogs. Retrieved November 14, 2015.