After its major rebranding announced in May, real estate giant Anywhere Real Estate Inc. – formerly Realogy Holdings Corp. – unveiled new names for its business units July 14.
The new monikers are:
Anywhere Brands: Formerly Realogy Franchise Group, a franchisor of residential real estate brokerages with more than 21,000 offices and approximately 332,000 independent sales associates in 119 countries and territories;
Anywhere Advisors: Previously called Realogy Brokerage Group, one of the nation’s largest owners and operators of residential real estate brokerages with 680 offices and approximately 56,000 independent sales agents principally under the Coldwell Banker, Corcoran and Sotheby’s International Realty brand names; and
Anywhere Integrated Services: Formerly Realogy Title Group, the company’s title, mortgage and insurance business.
Ryan Schneider, Anywhere president and chief executive officer, said in a statement that the new names “will more effectively highlight our renowned brokerage brands, trusted relationship with the consumer, and deep service integration.”
“Each of these businesses play an essential role as we move forward with our vision to empower everyone’s next move by building a more push-button-simple real estate transaction process,” Schneider continued.
When the rebranding was announced, the Madison-based company said the new name emphasizes to its customers that it can meet them “at any point in the real estate transaction journey.”
Residential real estate services giant Realogy announced it was changing its name back in March. On June 9, the Madison-based company celebrated the completion of its corporate rebrand to Anywhere Real Estate Inc. by ringing The Opening Bell at The New York Stock Exchange.
Anywhere Real Estate began trading Thursday morning under the ticker symbol HOUS.
According to the company, no action is required by shareholders regarding the name or ticker change, and the company’s CUSIP number will not change. At press time, HOUS was trading at $11.94.
“At Anywhere, we intend to further leverage our unique advantages – powerful agent network, leading brands, scaled core services, deep technology and data, and strong financial flexibility – to meaningfully transform one of life’s most important and complex transactions,” Ryan Schneider, Anywhere president and chief executive officer, said in a prepared statement. “The new Anywhere brand more boldly reflects our core purpose and company culture, and together with our trusted agents and franchise owners, we look to execute an agent-centric strategy that benefits all consumers, no matter where they may be in their home buying or selling journey.”
Anywhere’s brands include Better Homes and Gardens Real Estate, CENTURY 21, Coldwell Banker, Corcoran, ERA and Sotheby’s International Realty.
At an Investor Day event in May, the company laid out Anywhere’s broader strategic shift, which includes an emphasis on building a simpler, more digitized and integrated home buying and selling experience for consumers, “anywhere.”
Residential real estate giant Realogy has a new name, and new goals.
The company, headquartered in Madison, announced May 12 that it will rebrand as Anywhere Real Estate Inc. by the end of the second quarter of 2022 to emphasize to its customers that it can meet them “at any point in the real estate transaction journey.” During an investor event held the same day as the announcement, the company also outlined the next phase of its strategy, with the goal of simplifying the home-buying and -selling experience for its clients.
The company stated it’s been undergoing a “largescale transformation” since 2018.
“With very positive momentum, we will harness the power of our extensive agent network, leading brands, scaled core services, deep technology and data, and strong financial flexibility to create a better transaction experience for any consumer, anywhere,” Ryan Schneider, Realogy president and CEO, said in a statement. “We are so excited about the opportunity ahead of us that we chose to rename and rebrand the company to reinforce our commitment to delivering this future.”
Realogy’s portfolio includes brands such as Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Coldwell Banker Commercial, Corcoran, ERA and Sotheby’s International Realty. According to the company, it supported about 1.5 million home transactions in 2021 and works with 196,200 independent sales agents in the U.S. and about 136,400 agents in 118 other countries and territories.
During the investor meeting, executives shared their 2026 financial targets, including the goal of surpassing 20% market share through its expansion. “An updated capital allocation strategy, leveraging the company’s free cash flow, aims to balance investments in powerful growth initiatives with the flexibility of returning capital to investors,” the company stated.
“While buying or selling a home can be an exciting next chapter for any individual or family, the process around that experience hasn’t kept pace with the digital transformation in other industries,” added Melissa McSherry, Realogy chief operating officer. “Our goal is to leverage our differentiated market position, including with technology, to streamline the buying and selling journey and allow consumers to focus on what matters most – the joy of home ownership. This focus will guide how we evolve our product strategy for both consumers and agents as the trusted advisors of the transaction.”
About the new look
The Anywhere name was inspired by the desire to meet consumers anywhere on the transaction journey across the entirety of the market. The “re” at the end of the Anywhere name — emphasized in an orange hue, as opposed to the rest of the logo’s midnight blue — is a nod to the brand’s prominence within the real estate industry. If you look closely at the Anywhere mark, an eight-stroke asterisk, you will see the foundation of a home, a pitched roof, and an arc overtop, signifying the “sun rising above the home, conveying the potential that comes with a new day.”
As part of the rebranding, the company announced a new mission: “Empower everyone’s next move.”
“This is not only a business and strategic transformation but also a culture change,” said Tanya Reu-Narvaez, Realogy chief people officer. “Our talent strategy, led by our new purpose and positioning, enables us to engage employees anywhere in their career journey. Additionally, with our remote-first, hybrid company approach, many of our people can literally work from any place, offering employees the benefits of productivity gains, flexibility, and choice.”
The company enlisted San Francisco-based design studio Hybrid Design for the rebranding.
Coldwell Banker Realty, a Realogy company headquartered in Madison, acquired franchisee affiliate Coldwell Banker Bain, which serves the Pacific Northwest market.
Financial terms of the deal were not immediately disclosed. Following the acquisition of The Landover Corp., doing business as Coldwell Banker Bain, from investment firm US RES Holding LLC, the real estate brokerage will continue to operate under the Coldwell Banker Bain banner, according to an April 19 announcement.
Through the acquisition, Coldwell Banker Realty welcomes 1,300 independent sales agents across 37 offices. Coldwell Banker Bain President and CEO Mike Grady, along with his management team and brokerage force, will remain with the combined company.
Grady joined Coldwell Banker Bain in 1994 and became chief operating officer in 2009. He was named CEO in 2021. That same year, Coldwell Banker Bain achieved a total sales volume of more than $8 billion and ranked as the top network affiliate in adjusted gross income out of 3,000 offices across 40 countries and territories. Founded in 1972, the agency now boasts the highest count of certified Luxury Property Specialists from the affiliate network.
Together with Coldwell Banker Bain, Coldwell Banker has more than 53,000 affiliated sales associates in 642 offices in 55 markets across the U.S., with a combined closed sales volume of nearly $204 billion, based on 2021 sales.
“I’m excited to welcome Coldwell Banker Bain. The company has been a North Star for luxury real estate for over 50 years and we are proud to support their legacy,” M. Ryan Gorman, CEO of Coldwell Banker Realty, said in a statement. “Together we further bolster our surrounding affiliates with a strategically unified Coldwell Banker front. They make a remarkable addition to our team.”
Realogy Holdings Corp. has closed the sale of its title insurance underwriter.
An affiliate of private investment management firm Centerbridge Partners LP acquired Title Resource Guaranty Co. from Realogy for $210 million in cash and a 30% equity interest in the newly formed limited partnership joint venture that indirectly owns the entity, the Madison-based company announced March 29.
In October, Realogy said it was forming the Title Insurance Underwriter JV with an investment from funds affiliated with Centerbridge that would give a controlling 70% interest in Title Resource Guaranty Co.
“As we continue to reimagine and deliver a more integrated real estate transaction, today’s closing enables Realogy to be even more focused on our core business, including critical consumer-facing transaction services in franchise, brokerage, title settlement and escrow, and mortgage,” said CEO and President Ryan Schneider in a statement. “We look forward to working with our joint venture partners to more fully unleash the underwriter’s growth potential as we continue to invest in our strategic priorities and move both Realogy and the industry to what’s next.”
Realogy said its portion of future minority interest earnings from its stake in the company will be reported within the Realogy Title Group segment, which also includes its title, escrow and settlement services business along with its mortgage origination joint venture.
When the sale was announced, Realogy said it intended to use the cash proceeds, after taxes and transaction-related costs, to continue to invest in its business and de-lever.
Goldman Sachs & Co. LLC served as financial advisor to Realogy, while Gibson, Dunn & Crutcher served as legal advisor. Bank of America served as financial advisor to Centerbridge and Willkie Farr & Gallagher served as legal advisor for that company.
According to the Realogy, its national title settlement and escrow services — which operate in 44 states under 45 different brand names — helped to close 220,000 transactions in 2021. Those services represented the majority of Operating EBITDA generated by the segment, excluding the company’s share of equity earnings from its mortgage origination joint venture.
Realogy expanded its executive leadership team with the addition of a new chief operating officer to its ranks.
Melissa McSherry’s appointment is effective Feb. 22. She will report to President and Chief Executive Officer Ryan Schneider.
With a career spanning nearly three decades, McSherry comes to the largest full-service real estate services company in the U.S. from Visa Inc., where she most recently served as senior vice president. At the Madison-based company, her responsibilities will cover product, technology, customer success, corporate development and enterprise marketing across the organization.
Her work will also find her collaborating with business and functional leaders at Realogy in pursuit of its digital transformation, and to uncover new growth opportunities.
“Melissa is a bold leader who inspires teams. She strategically leverages technology and data to build products that enhance the customer experience and drive growth,” Schneider said in a Feb. 16 statement. “Melissa will help lead the next chapter of Realogy’s transformation as we accelerate delivery of a more seamless, digitized transaction and harness the power of our strong momentum.”
At Visa, McSherry was responsible for leading high-growth businesses delivering digital transformation and AI through product and technology, marketing, investments and talent development, according to Realogy. Her past experience also includes holding senior product, tech, data and strategy roles at several large organizations, including Capital One.
“Realogy is an industry leader with unmatched scale, deep data access, strong brands, and powerful agents,” said McSherry. “I have admired the progress the company has made in transforming how consumers buy and sell homes, and I am excited to partner with Ryan Schneider and the talented leadership team to further amplify Realogy’s success as, together, we deliver the next chapter for the company and our customers.”
Realogy – which said it supported approximately 1.4 million home transactions in 2020 – includes brands like Better Homes and Gardens Real Estate, Coldwell Banker, ERA and Sotheby’s International Realty. Last month, it was one of nearly 50 from New Jersey to be included in the 2022 Corporate Equality Index from the Human Rights Campaign Foundation, and one of just 10 companies from the state with a score in the 90s.
A leading global luxury real estate auction marketplace has a new home. On Nov. 17, Madison-based Realogy Holdings Corp. and Sotheby’s announced their acquisition of Concierge Auctions.
While co-founders Chad Roffers and Laura Brady, president and CEO, respectively, will remain in their positions, Realogy and Sotheby’s agreed to take a joint, 80% ownership in the target. Financial terms of the deal were not disclosed.
According to an announcement from the buyers, Concierge Auctions will operate independently. A board of managers – chaired by Sotheby’s International Realty CEO and President Philip White – will include additional executives from Sotheby’s and Realogy. Sotheby’s International Realty is a Realogy brand.
“We founded Concierge Auctions with a vision to enhance the way luxury properties are bought and sold,” Brady said in a statement. “Thirteen years and billions in sales later, we are the largest auction marketplace for high-end homes, have one of the most comprehensive databases in the industry, and are active in 30 countries and 44 U.S. states. We couldn’t imagine better partners than Sotheby’s and Realogy for our next phase of growth.”
According to the acquisition announcement, in 2020 Concierge Auctions reported processing more than $3.4 billion in competitive bids, with an average home sale price of $3.5 million. This year also brought the highest price of a single-family home ever sold at auction – Concierge’s fourth world record – with the sale of Villa Passalacqua in Lake Como, Italy for $165 million. Prior records include the sales of Playa Vista Isle in Hillsboro Beach, Fla., listed at $159 million; and Walnut Place in Dallas, Texas, listed for $48.9 million.
Founded in 2008, Concierge Auctions creates predictability and liquidity for sellers in an accelerated timeframe while working with real estate agents. According to the announcement, Roffers and Brady have both worked as licensed agents and their company has never auctioned a property without partnering with a local broker.
Concierge Auctions’ tech platform also helps agents market and sell unique properties worldwide.
Realogy and Sotheby’s highlighted the growth of the luxury online auction sector in the real estate industry, particularly at the high-end.
“This investment is another sign of our growth ambition to expand our portfolio of offerings and leverage our auctions expertise in a growing sector of the real estate industry,” said Sotheby’s Chief Financial Officer Jean-Luc Berrebi.
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