Realogy

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Realogy Holdings Corp.
Type Public
Traded as NYSERLGY
Industry Real estate
Founded 2006
Headquarters 175 Park Avenue
Madison, New Jersey, USA
Area served United States
Key people Richard A. Smith (Chairman, CEO)
Anthony E. Hull, MBA (CFO, Treasurer)
Products Real estate services
Revenue Increase US$ 5.289 billion (2013)[1]
Operating income Increase US$ 175 million (2013)[1]
Net income Increase US$ 438 million (2013)[1]
Total assets Increase US$ 7.326 billion (2013)[1]
Total equity Increase US$ 2.031 billion (2013)[1]
Employees 10,800 (2012)[1]
Website www.realogy.com

Realogy (pronounced "rēl′ ə jē", as in "real" estate) (NYSERLGY) is an American publicly owned company that provides real estate and relocation services. It owns and franchises several real estate brands and brokerages. It also provides relocation, title and settlement services.

History[edit]

Realogy was created as a result of an October 24, 2005 announcement by Cendant that it had decided to split into four separate companies, citing a necessity to diversify in appealing to stockholders and in an attempt to increase the value of the post-split up company. These four categories include "Real Estate, Travel Distribution, Hospitality and Vehicle Rental Companies."[2]

On July 31, 2006, the separation was completed, and Realogy became a self-operating company.[2] Subsequently, the Cendant name has been completely retired.

On December 18, 2006, Realogy announced it had accepted a $8.5 billion buyout offer from private equity group Apollo Management. The transaction closed on April 10, 2007.[3]

On October 10, 2012, Realogy became a publicly owned company. In its initial public offering (IPO), the company sold 40 million shares at $27 each, raising $1.08 billion (US).[4]

Realogy's business units include Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Coldwell Banker Commercial, The Corcoran Group, ERA, Sotheby's International Realty, NRT LLC, Cartus and Title Resource Group. Collectively, Realogy's franchise system members operate approximately 13,600 offices with 247,000 sales associates doing business in 104 countries and territories around the world. In 2013, Realogy earned $5.3 billion in revenue.[5]

Realogy is led by Chairman, CEO & President Richard A. Smith. Smith was appointed to the Bipartisan Policy Center's newly formed Housing Commission in December 2011.[6] Smith also was named among SmartMoney magazine's "Power 30: The World’s Most Influential Players," in October 2011.[7] In January 2014, he was named the Most Powerful Person in Residential Real Estate Brokerage according to the inaugural Swanepoel Power 200 rankings.[8]

Realogy's former headquarters was located in Parsippany, New Jersey, before April 2013, when the company moved its corporate headquarters to a new facility at 175 Park Avenue in Madison, New Jersey.[9]

In March 2014, Realogy was recognized as a 2014 World’s Most Ethical Company by the Ethisphere Institute, an independent center of research promoting best practices in corporate ethics and governance, the third consecutive year in which it has received this honor.[10]

On July 15, 2014, Realogy acquired California based ZipRealty for approximately $166 million, in order to improve the technology related aspects of real estate. [11]

Realogy Business Units[edit]

See also[edit]

References[edit]

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