Realogy

Realogy Holdings Corporation
Public
Traded as NYSE: RLGY
Industry Real estate
Founded 2006
Headquarters Madison, New Jersey, USA
Area served
 United States, Global
Key people
 Richard A. Smith (Chairman, CEO)
Anthony E. Hull, MBA (CFO, Treasurer)
Products Real estate services
Revenue Increase US$ 5.81 billion (2016)[1]
Increase US$ 349 million (2016)[1]
Increase US$ 213 million (2016)[1]
Total assets Decrease US$ 7.421 billion (2016)[1]
Total equity Increase US$ 2.469 billion (2016)[1]
Number of employees
 11,800 (2016)[1]
Subsidiaries Better Homes and Gardens Real Estate
Century 21 Real Estate
Coldwell Banker
ERA Real Estate
ZipRealty
Sotheby's International Realty
NRT
Website www.realogy.com

Realogy Holdings Corporation (pronounced "rēl′ ə jē", as in "real" estate) 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

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, ZipRealty, NRT LLC, Cartus, Title Resource Group and ZapLabs, its innovation and technology development subsidiary. Collectively, Realogy's franchise system members operate approximately 14,100 offices with 272,300 sales associates doing business in 112 countries and territories around the world. In 2016, Realogy earned $5.81 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 2016, he was named the Most Powerful Person in Residential Real Estate Brokerage for the third consecutive year, according to the 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]

On July 15, 2014, Realogy acquired California based ZipRealty (as of June 2016, rebranded as ZapLabs [10]) for approximately $166 million, in order to improve the technology related aspects of real estate. [11]

In March 2016, Realogy was recognized as a 2016 World’s Most Ethical Company by the Ethisphere Institute, an independent center of research promoting best practices in corporate ethics and governance, the fifth consecutive year in which it has received this honor.[12]


References

  1. 1 2 3 4 5 6 "2016 Form 10-K, Realogy Holdings Corp.". Realogy Holdings Corp. (via the U.S. Securities and Exchange Commission).
  2. 1 2 "Cendant". Cendant. Archived from the original on 2007-03-11. Retrieved 2007-06-04.
  3. ↑ "Apollo Management, L.P. Completes Acquisition Of Realogy Corporation". Realogy. Retrieved 2007-06-05.
  4. ↑ "Realogy Raises $1.08 Billion, Pricing IPO at Top End of Range". Bloomberg. Retrieved 27 May 2013.
  5. ↑ "Realogy Reports Financial Results For Full Year 2016". Realogy. Retrieved 2016-02-24.
  6. ↑ "Realogy CEO Richard A. Smith Appointed to Bipartisan Policy Center's Newly Formed Housing Commission". Realogy. 2011-12-13. Retrieved 2011-12-13.
  7. ↑ "Power 30: The World's Most Influential Players". Smart Money. Retrieved 2011-10-12.
  8. ↑ "Realogy Tops Charts with 33 Leaders Named Among the 200 Most Powerful People in Residential Real Estate for 2015-16; Chairman at No. 1 for Third Consecutive Year". Yahoo Finance. Retrieved 2016-01-14.
  9. ↑ "Timeline Photos". Facebook. Retrieved 27 May 2013.
  10. ↑ "Realogy : News Release".
  11. ↑ "Realogy : News Release".
  12. ↑ "Realogy Named As A 2016 World's Most Ethical Company By Ethisphere Institute For Fifth Year In A Row". Press Release. Retrieved 2016-03-07.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.