Coldwell Banker Real Estate Announces New Franchise Affiliate in Northern California
Merger of Regional Leaders Kappel & Kappel Realtors and Gateway Realty Forms Powerful Coldwell Banker Presence Along I-80 San Francisco-to-Sacramento Corridor
MADISON, NJ - (Marketwired - Jun 18, 2013) - Coldwell Banker Real Estate LLC today announced the affiliation of the newly created Coldwell Banker Kappel Gateway Realty in Vacaville, Calif., welcoming more than 200 agents in seven offices serving Solano County along the Interstate 80 corridor between Sacramento and San Francisco.
The new entity was created through the merger of Kappel & Kappel Realty, Inc. in Vacaville, owned by Steve and Sue Kappel, and Solano Gateway Realty, Inc. in Fairfield, owned by Steve Spencer and Bev Dorsett. Both firms were founded in 1972 and are the market leaders in Solano County, combining for more than $600 million in sales dollar volume in 2012. The new firm also includes nearly 30 agents from the former Coldwell Banker Residential Brokerage offices in Vacaville and Dixon.
Coldwell Banker Kappel Gateway Realty has branch offices in Vacaville, Fairfield, Dixon and Green Valley.
"The ownership group at Coldwell Banker Kappel Gateway Realty is impressive and we are thrilled to welcome them and their agents to the Coldwell Banker brand," said Budge Huskey, president and chief executive officer of Coldwell Banker Real Estate LLC. "These two firms have been market leaders for years and share so many of our core values. The Coldwell Banker® brand was founded in San Francisco in 1906, so having the ability to grow in the region with such quality people is rewarding. Coldwell Banker Kappel Gateway Realty augments our brand's already strong presence in Northern California. "
Solano County is situated between Sacramento, the Bay Area of San Francisco/Oakland and San Jose. It is one of the most affordable regions in Northern California with average home prices currently around $300,000. The current housing market is being impacted by low inventory and subsequent multiple bids, along with strong interest from the investor community.
"This is an exciting day for local residents and the real estate community as we continue to benefit from a renewed housing market in Solano County," said Sue Kappel. "We are clearly in a growth mode and today's announcement is another positive sign for the viability of our region's economic future. I have long believed in running our company like a family and always doing what's right for our clients and for each other. When we sat down with Steve and Bev, we learned they had the same values. Together we are committed to ensuring that homebuyers and sellers receive the best imaginable service and that our agents are afforded every opportunity to maximize their business potential."
"We have enjoyed a three-decade long friendly competition with Steve and Sue, and we have always admired their company's success," said Spencer. "Together we realized that our operations would be best served by a merger. We are thrilled to retain our local ownership while adding the resources, global network and marketing power that our affiliation with Coldwell Banker will provide for our agents and our customers."
About Coldwell Banker®
Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker® is the oldest national real estate brand in the United States and today has a network of more than 82,000 sales agents working in approximately 3,100 offices in 50 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to create an iPad application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On Location(SM) YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Coldwell Banker is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.
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