Realogy Renames Operating Segments
Amidst On-going Corporate Simplification Efforts, New Naming Highlights Core Businesses and Amplifies Parent Brand
MADISON, N.J., Feb. 25, 2020 // PRNewswire // - Realogy Holdings Corp. (NYSE: RLGY), the leading and most integrated provider of residential real estate services in the U.S., today announced a new naming convention for some of its operating segments. NRT, the country's largest brokerage by transaction volume, operating the company-owned offices of Coldwell Banker®, Corcoran® and Sotheby's International Realty®, will now be known as Realogy Brokerage Group. There will be no change to the name of Realogy Franchise Group, the world's largest franchisor of residential real estate brands, while Title Resource Group (or TRG), the company's national title and settlement services business, will go forward as Realogy Title Group.
"As Realogy continues to transform its efforts in supporting our leading residential real estate brands, brokerages and businesses, we have made significant progress in simplifying our organization to focus on our core drivers," said Ryan Schneider, Realogy president and CEO. "Renaming our operating and business segments further streamlines how we communicate our real estate service offerings and amplifies the Realogy name across the work we do."
In November 2019, Realogy entered into an agreement to sell the company's Cartus Relocation business, which is expected to close in the next several months. As part of the transaction, Realogy will retain the Cartus affinity and broker-to-broker business as well as the Realogy Broker Network, which generate high-quality, high-converting leads for Realogy's affiliated agents and franchisees. The business to be retained will be included within the Realogy Franchise Group operating segment, commencing with the first quarter of 2020.
The renaming of Realogy's operating segments does not change the operational or go-to-market approach for the companies or brands that fall within any of the three main units.
About Realogy Holdings Corp.
Realogy Holdings Corp. (NYSE: RLGY) is the leading and most integrated provider of U.S. residential real estate services, encompassing franchise, brokerage, and title and settlement businesses as well as a mortgage joint venture. Realogy's diverse brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby's International Realty®. Using innovative technology, data and marketing products, best-in-class learning and support services, and high-quality lead generation programs, Realogy fuels the productivity of independent sales agents, helping them build stronger businesses and best serve today's consumers. Realogy's affiliated brokerages operate around the world with approximately 190,000 independent sales agents in the United States and more than 112,000 independent sales agents in 113 other countries and territories. Recognized for nine consecutive years as one of the World's Most Ethical Companies, Realogy has also been designated a Great Place to Work and one of Forbes' Best Employers for Diversity. Realogy is headquartered in Madison, New Jersey.
SOURCE Realogy Holdings Corp.
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