Coldwell Banker Real Estate Announces Master Franchise Agreement for Great Britain
MADISON, N.J. - Sept. 8, 2015 // PRNewswire // Coldwell Banker Real Estate LLC announced the signing of a master franchise agreement with GBRE Limited with immediate plans to affiliate and service Coldwell Banker® residential real estate franchises in Great Britain. The Coldwell Banker brand will now have a presence in 44 countries/territories around the world.
GBRE Limited will operate Coldwell Banker Great Britain, which will be led by Managing Director Vic Pegna. Pegna is a seasoned industry professional with over 20 years experience in senior management positions within estate agency and financial service businesses. He has held senior positions with both of the U.K.'s largest corporate agency groups and has extensive experience with the estate agency marketplace and its changing practices since 1994.
Coldwell Banker Great Britain will initially focus on growing the Coldwell Banker brand in London with plans to expand into the rest of England, Wales and Scotland.
"There is no doubt that expansion into Great Britain was paramount to our continued international growth," said Budge Huskey, president and chief executive officer of Coldwell Banker Real Estate LLC. "The region reflects similarly to the U.S. housing market with approximately 65% home ownership rate and an improving economy. London itself ranks as one of the world's top financial centers and therefore is critically important for us. Vic and his management team, with almost 100 years of combined experience with operating real estate firms in Great Britain, are equipped to navigate the competitive landscape with a focus on growth."
"We are incredibly excited to bring the Coldwell Banker system into Great Britain and recognize that the brand's rich history and industry leadership will play strongly here," Pegna said. "London has become one of the most prestigious markets in the world with an influx of foreign buyers and investors. We are looking forward to working closely with Coldwell Banker companies in the United States, Europe, the Middle East and Asia to take advantage of this shift. We believe there is a real opportunity in the prestigious property market for a credible international brand. Market conditions are good and we are confident that our ability and experience will allow us to effectively service our local communities as we introduce them to the Coldwell Banker brand."
For more information of franchising opportunities with Coldwell Banker Real Estate visit www.coldwellbanker.com/franchising.
About Coldwell Banker Real Estate LLC
Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate brokerage services. Coldwell Banker Real Estate is the oldest national real estate brand and franchisor in the United States, and today has a global network of approximately 3,000 independently owned and operated franchised broker offices in 44 countries and territories with more than 88,000 affiliated sales professionals. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand with an iPad app, the first to augment its website www.coldwellbanker.com for smart phones, the first to create a iPhone application with international listings and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker System is a leader in niche markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program delivering exceptional experiences for all consumers served.
SOURCE Coldwell Banker Real Estate LLC
Coldwell Banker Real Estate LLC