Coldwell Banker and Coldwell Banker Commercial Welcome 10 New Affiliated Companies through Inclusive Ownership Program in 2020

Coldwell Banker
Published: December 15th, 2020

The Coldwell Banker brand furthers its commitment to increasing diversity and inclusion in real estate, welcoming 10 new companies in less than 10 months since program launch

MADISON, N.J., Dec. 15, 2020 // PRNewswire // - Coldwell Banker Real Estate LLC, a Realogy (NYSE: RLGY) brand, announced 10 brokerages joined the brand as part of its Inclusive Ownership program in 2020. This industry-first franchise approach, first announced in February, was created as a way to increase representation of minority, women, LGBTQ+ and veteran entrepreneurs in the real estate industry.

As part of the program, each new brokerage that affiliates with the Coldwell Banker brand will not pay an initial franchise fee and will receive financial incentives to support diverse business owners in the critical first two years of business. Benefits include up to $100,000 of funding, royalty fee rebates, education, and mentorship. Owners will also receive membership and conference registration for an industry partner group of choice, such as the National Association of Real Estate Brokers, the National Association of Hispanic Real Estate Professionals, the Asian Real Estate Association of America, and the LGBTQ+ Real Estate Alliance.

Many of the newly affiliated owners come to the Coldwell Banker brand with decades of real estate experience and expertise in their markets. Some served their communities as independent brokerages and are now joining the Coldwell Banker brand while others made the leap to broker-ownership for the first time. These owners represent a diverse group of women, Asian-American, African American, Hispanic, and veteran entrepreneurs. They serve a wide array of communities, from cities to small towns and represent almost every geographic region of the continental United States.

Quotes

• "I am extremely proud to welcome these 10 new brokerages to the Coldwell Banker brand. I am confident Coldwell Banker will be the place where these businesses find long-term growth and success. I also believe adding this group and future Inclusive Ownership firms will enhance Coldwell Banker's long-term performance, as we benefit from diverse perspectives. Personally, I have found our newly established mentorship program to be mutually beneficial as we learn just as much from our newest affiliated leaders as they do from our executive leadership team. It is our goal as a brand to serve communities and professionals who have been traditionally underrepresented as property and business owners to build a culture of inclusion and equity, and ultimately build wealth for diverse communities and promote home ownership for all."
  - M. Ryan Gorman, president and CEO of Coldwell Banker Real Estate
• "Since launching our Inclusive Ownership program in February, we've had great interest from talented real estate brokers. As real estate markets remain brisk across the country, this is an opportune time to join the brand, as consumers look for the advice and professionalism that Coldwell Banker agents offer. With the Inclusive Ownership program, our goal is to provide financial incentives and support in those crucial first few years of business so that entrepreneurs from all backgrounds can build a robust business and serve the real estate needs of every individual."
  - Liz Gehringer, chief operating officer of Coldwell Banker Real Estate
• "When I found out I was the first Black owner to be part of the Inclusive Ownership program, my first thought was: Let's change that! I'm excited and willing to do whatever it takes to bring more Black broker-owners to the brand, because the real estate industry is long overdue for a change. Initiatives like Coldwell Banker's Inclusive Ownership program are one important step in getting more Black real estate professionals into ownership. I'm proud to be part of a company that prioritizes home ownership and wealth generation for all people, especially those who have historically been left out of those opportunities."
  - Booker Pickett, broker-owner, Coldwell Banker Pickett Fences Realty

SOURCE Coldwell Banker Real Estate LLC