NRT LLC, a subsidiary of Realogy Holdings Corp., recently purchased Coldwell Banker United Realtors, including its office in Camden. According to Elise Ramer, NRT’s senior public relations specialist for the Southeast, more than 400 Coldwell Banker agents are affected by the purchase. Other Midlands offices include Blythewood, Chapin, Irmo, Lake Murray, Lake Wateree, Lexington and Sumter/Shaw, Ramer said.
In a press release, NRT said it has acquired 60 Coldwell Banker offices nationwide and 2,000 affiliated sales associates in Texas, Florida, North Carolina and South Carolina. The offices and sales associates will continue to work under the Coldwell Banker brand, according to the press release.
Financial terms of the transaction were not disclosed and no federal regulatory approves were necessary, NRT officials said in the press release.
“This announcement marks NRT’s entrance into important new markets and positions us to build on the success of Coldwell Banker United Realtors’ strong leadership team and the quality of its affiliated sales associates and employees,” NRT President and CEO Bruce Zipfsaid. “This is a strategic acquisition for NRT, within our time-tested and disciplined financial return criteria, and timely in that it comes at the start of the spring home-selling season.”
The acquisition connects NRT’s Eastern Seaboard presence contiguously from Maine to Florida with the addition the North and South Carolina offices. The company ranks among the market leaders in Charlotte, N.C.; and Columbia, S.C., in both transaction sides and sales volume, according to the press release.
“This announcement positions the No. 1 Coldwell Banker independent affiliate to be part of the No. 1 residential real estate brokerage in the nation, and I personally take great pride in that,” Coldwell Banker founder Richard Smith said. “We have the same dedication to ethics, remarkable customer service, agent empowerment and community service that have been our hallmark over the past four decades, and I am highly confident our growth with NRT will continue to provide real estate consumers with outstanding value and service.”