SOURCE: NRT

NRT

November 11, 2010 14:23 ET

Realogy Subsidiary NRT Announces the Acquisition of Cashin Company in the San Francisco Bay Area

Distinguished Firm to Operate as Part of NRT's Coldwell Banker Residential Brokerage

PARSIPPANY, NJ and SAN RAMON, CA--(Marketwire - November 11, 2010) - NRT LLC, the nation's largest residential real estate brokerage company and a subsidiary of Realogy Corporation, today announced that its Coldwell Banker Residential Brokerage company in the San Francisco Bay Area has acquired the assets of Cashin Company Realtors, one of the San Francisco Peninsula's largest and most prestigious local brokerage companies. The seven-office, 270-agent firm will now operate under the banner of Coldwell Banker Residential Brokerage. With this announcement, Coldwell Banker Residential Brokerage in the San Francisco Bay Area now has more than 60 offices and 3,500 sales associates who accounted for more than $11 billion in sales volume last year.

"Cashin Company has long been synonymous with unparalleled personalized service and is also known for its agents' in-depth knowledge of the highly coveted Peninsula real estate market," said Bruce Zipf, president and CEO of NRT. "Not only does this move strengthen our position in the San Francisco Bay Area marketplace, we have gained a tremendously talented group of sales associates with a strong commitment to the community."

Founded in 1995 by president Emmet J. "Skip" Cashin III, Cashin Company accounted for more than $1 billion in annual sales volume in the last 12 months. Both Cashin and Chuck Alloo, Cashin Company's chief operating officer, will continue with Coldwell Banker Residential Brokerage in sales and management roles, respectively. 

This move continues NRT's strong trajectory of growth in the Bay Area under the leadership of Rick Turley, president of Coldwell Banker Residential Brokerage in the San Francisco Bay Area. Recent acquisitions have helped build on the company's leading position in the Northern California real estate market, particularly in the luxury segment. Year-to-date, Coldwell Banker Residential Brokerage accounted for the sale of more than one out of every four properties priced above $3 million and one out of every three properties above $5 million in the Bay Area, according to MLS Listings.

Citing a natural fit between the two companies, Cashin said, "Coldwell Banker Residential Brokerage is the right choice in terms of both the scale and scope of its agent support, technological tools and networking opportunities as well as its culture of service excellence. Coldwell Banker is the premier real estate brand around the world and offers a robust marketing platform and extensive referral network that will help our sales associates achieve even greater results for their clients."

Cashin Company Realtors is the latest in a long line of NRT acquisitions of prestigious Northern California brokerages over the past decade. Others include Fox & Carskadon, TRI, Contempo, Del Monte Realty, Cornish & Carey Residential Real Estate and Pacific Preferred Properties, Inc.

About NRT LLC

NRT LLC is the nation's largest residential real estate brokerage company, with approximately 740 offices, 44,000 sales associates and 5,100 employees operating in more than 35 major metropolitan areas. NRT, its affiliated companies, marketing partners or joint ventures provide mortgage, title, insurance, escrow, warranty, relocation and concierge services to NRT's family of companies. A subsidiary of Realogy Corporation, NRT operates Realogy's company-owned real estate brokerage offices. Realogy is a leading global provider of real estate and relocation services.

Contact Information

  • Media Contact:
    Melissa Campbell
    NRT LLC
    (973) 407-5237
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