MADISON, N.J., May 11, 2021 // PRNewswire // - Coldwell Banker Real Estate LLC, a Realogy (NYSE: RLGY) brand, announced today that four new brokerages joined the brand as part of the Inclusive Ownership program. This industry-first franchise approach, first announced in February 2020, was created to help increase representation of minority, women, LGBTQ+ and veteran entrepreneurs in the real estate industry.
Coldwell Banker Companies that Joined through the Inclusive Ownership Program
As part of the program, each new eligible brokerage that affiliates with the Coldwell Banker brand will not pay an initial franchise fee for the Main Office and will receive financial incentives to support diverse business owners in the critical first year of business. Benefits include the ability to receive up to $100,000 of funding, a discounted royalty fee in the first year of operation, education, and mentorship opportunities. 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.
The brand has welcomed 14 companies under this program, since launching it in February 2020. Some of the newly affiliated owners join the Coldwell Banker brand with many years of experience in their local communities as independent brokerage owners, others are starting fresh in the real estate industry altogether and are ready to guide clients home. This diverse group of affiliates encompasses Asian-American, African American, Hispanic, LGBTQ+ and women entrepreneurs who represent cities and towns of all sizes across the continental United States.
Quotes:
"When we unveiled this initiative a year ago, it couldn't have launched at a more crucial time as a demand for equality of opportunity in the nation reached an all-time high. Ensuring that our entrepreneurs and affiliated agents feel represented, understood and supported is a top priority at Coldwell Banker, and we are proud to welcome the four newest brokerages. I look forward to the mutual learning and impact to come as these new affiliates enrich our network as much as our network enriches their businesses. Diverse ownership will change the industry for the better - and the change begins with us. We hope this program will set a standard for what the future will look like in real estate."
- M. Ryan Gorman, president and CEO of Coldwell Banker Real Estate"The Inclusive Ownership program continues to expand with the addition of these inspiring new leaders! Representation at the owner level increases the knowledge, respect and understanding of needs in our business and client base. We look forward to bringing in more affiliates through this program and are hopeful that the strides we make to further Coldwell Banker's commitment to diversity, equity and inclusion will reflect in the real estate industry in its entirety."
- Liz Gehringer, COO of Coldwell Banker Real Estate"When I heard about the opportunity to join Coldwell Banker through the Inclusive Ownership program, I knew I had to go for it. I have been an independent broker since 2009 and as a busines owner, it would take a lot of time and money to build the tools that Coldwell Banker offers. I am especially drawn to the ethics and integrity of this brand, as well as the resources and mentorship it provides. There is a huge gap between African American and white homeownership. Education and representation at the broker level are important so more African Americans - and people from other diverse groups - can see themselves as homeowners, but also as real estate professionals."
- Kathy Mann, broker owner, Coldwell Banker CK Mann Realty
SOURCE Coldwell Banker Real Estate LLC
Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate.