Coldwell Banker Real Estate Expands its International Network with Master Franchise Agreement for Greece

December 23, 2009 // Franchising.com // PARSIPPANY, N.J., -- Coldwell Banker Real Estate LLC today announced the signing of a master franchise agreement with Senet, S.A., to bring the Coldwell Banker® franchise system to Greece. The Coldwell Banker network now extends to 48 countries and territories worldwide.

Led by Peter Mihalos, Senet S.A. is the newest member of the Southeast Real Estate Group, a 20-year-old firm that specializes in Greek and Southeastern European commercial real estate services, developments and investments.

"Despite the global economic challenges, we remain committed to growing the Coldwell Banker brand internationally through strategic alliances with leading firms such as Senet, S.A.," said Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate LLC. "Peter Mihalos has a strong vision and plan for the growth of the Coldwell Banker brand in Greece. We look forward to working with Peter and his management team to make the Coldwell Banker entrance into Greece a tremendous success."

"The Greek housing market industry has evolved in sophistication," said Mihalos, President of the Southeast Group of Companies. "As such, the service needs of the market have increased, becoming more specialized and more demanding. At the same time, Greece is attracting a diverse international buyer. The Greek housing market has fared better than most other European housing markets. Homeownership in Greece remains one of the highest in Europe and transactions, while down the last couple of years, are expected to pick up.

"In order to capitalize on the growing opportunity, I recognized the global stature of Coldwell Banker can give us the competitive advantage," added Mihalos. "The Coldwell Banker brand is one of the world's most recognized in real estate and will allow us to quickly develop a highly trusted and professional network."

About Coldwell Banker®

Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. The Coldwell Banker system has approximately 3,500 residential real estate offices and approximately 100,000 sales associates in 48 countries and territories. The Coldwell Banker system is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

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