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Coldwell Banker Commercial® marked an important milestone in 2006, the 100th anniversary of the brand’s founding. The oldest national real estate organization in the country was founded among the ruins of the great San Francisco earthquake of 1906. Colbert Coldwell, who played a key role in rebuilding the city after the devastating quake and subsequent fires, witnessed his real estate contemporaries take advantage of the tragedy by acquiring property from vulnerable sellers at unfair prices. Shocked by their unscrupulous actions, he vowed to dedicate himself to providing an honest and knowledgeable alternative. Coldwell was soon joined by Benjamin Arthur Banker, and the two partners established a company committed to commercial real estate, imbuing their transactions with honesty and vision on behalf of their clients.
Over the next several decades, Coldwell Banker Real Estate Corporation embarked on a nationwide expansion to become the dominant commercial real estate company across America. In 1937, Coldwell Banker Real Estate Corporation began to provide residential real estate services to become a full-service real estate company. In 1989, Sears, Roebuck & Co. sold the commercial division of Coldwell Banker to a group of managers currently known as CBRE (CB Richard Ellis). As a result of the purchase, the entities entered into a non-compete agreement.
In 1996, Coldwell Banker was acquired by HFS, Inc. (later Cendant Corporation, NYSE: CD) and became part of the world's largest real estate franchise organization. In 1998, Cendant expanded the CBCSM brand under both an affiliate and company-owned business model. The affiliate company quickly grew in secondary and tertiary markets, and that brand development resulted in CBC being one of the globally recognized commercial real estate entities.
In 2005, Cendant announced it was separating into four independent, publicly traded, pure-play companies – one each for Cendant’s real estate, travel distribution, hospitality and vehicle rental businesses. On Aug. 1, 2006, Realogy Corporation, the world’s largest real estate franchisor, announced its spin-off from Cendant Corporation. As a subsidiary of Realogy Corporation, Coldwell Banker Commercial is part of the world's largest residential real estate brokerage franchisor. Realogy is also the largest U.S. residential real estate brokerage firm, a leading global provider of outsourced employee relocation services, and a provider of title and settlement services. Realogy's world-renowned brands and business units also include Century 21, Coldwell Banker,, ERA, Sotheby's International Realty, NRT Incorporated, Cartus and Title Resource Group. Realogy is headquartered in Parsippany, NJ and has more than 15,000 employees.
Today, the Coldwell Banker® network of commercial brokers can be found in 30 countries in North America, South America, Europe, Africa, Asia and Australia, providing the largest geographic footprint of any commercial real estate organization.
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