One of the facts about the real estate industry today is that there is going to be consolidation. Brokerages get bought out and assimilated by stronger firms. The difficult real estate economy makes this simply a matter of course. Coldwell Banker has announced the acquisition of Keller Williams Gold Coast in Chicago’s 4 office and around 200 agents.
Under the terms of the deal as reported here, the organization will operate under the Coldwell Banker banner, the companies said. Coldwell Banker Residential Brokerage (who is the acquiring brokerage) is part of NRT, which is a subsidiary of Realogy, which is also the franchor. The brokerage currently has 3,300 sales associates and is the largest brokerage firm in the US.
“We are excited about adding this highly reputable group of real estate professionals to our company, expanding our city team and growing our already significant market share,” said Fran Broude, president and COO of Coldwell Banker Residential Brokerage, in a statement.
There is a normal tendency by homeowners to overestimate the value of their house because it’s very hard to be impartial to the house. Let’s face it, as a homeowner, we’ve lived in it for many years, made improvements to the house, invested our hard-earned money in it to make it better and more comfortable.