Coldwell Banker, JGR join real estate forces

Two of the region’s three largest residential brokerages are joining forces.

Manheim Township-based Realty Select Inc., which does business as Coldwell Banker Select Professionals, and Hampden Township-based Jack Gaughen Realtor ERA are combining as Coldwell Banker Residential Brokerage. New Jersey-based NRT LLC, the largest broker in the country and parent company of JGR, acquired Realty Select.

The combined operations of the two firms was more than $1.1 billion in sales volume and more than 6,000 closed transaction sides in 2013. Together, the brokers have more than 650 affiliated independent sales professionals and 22 offices throughout the region.

“This is part of our opportunistic approach to growth, and we are excited to strengthen our position in this important real estate market,” said Bruce Zipf, president and CEO of NRT. “This move is part of our long-term strategy to create near seamless coverage for our Coldwell Banker clients in Pennsylvania from Philadelphia to Pittsburgh, and I am confident that the affiliated sales associates will greatly benefit from this union.”

Quentin Miller, former co-owner of CBSP, will serve as president of Coldwell Banker Residential Brokerage in Central Pennsylvania. The JGR office will serve as the headquarters for the new company.

Barbara Schmidt, who was most recently JGR’s president, will assume the role of senior vice president and general sales manager. Ryan Hess, former co-owner of CBSP, will serve as vice president of strategic initiatives.

“In addition to our continuing affiliation with an internationally recognized and respected brand, we will fully take advantage of the invaluable benefits of NRT’s state-of-the-art brokerage tools, technology and training as well as expanded marketing exposure throughout the NRT family of companies,” Miller said. “This is certain to be a win-win for our affiliated sales professionals and ultimately their homebuyers and sellers.”

In 2013, CBSP closed 3,873 transaction sides worth more than $739 million in total sales volume placing it in the top two companies in Harrisburg/York/Lancaster in the Real Trends 500 annual ranking report. The company has 11 offices and more than 350 affiliated independent sales professionals.

JGR accounted for nearly $400 million in closed sales volume, and closed 2,221 transaction sides in 2013, placing it in the top three companies in Harrisburg/York/Lancaster in the Real Trends 500 annual ranking report. JGR has 11 offices and more than 300 affiliated independent sales associates.

NRT is part of Realogy Holdings Corp.

Realogy also announced that its Title Resource Group affiliate in the Harrisburg area, Secured Land, has signed a definitive asset purchase agreement to acquire the assets of Guardian Transfer Corp., which is Realty Select’s affiliated title and escrow company.

Secured Land plans to use the Guardian Transfer name after the closing of the transaction, which is anticipated to occur by the end of the year.

Jason Scott
Jason Scott covers state government, real estate and construction, media and marketing, and Dauphin and Cumberland counties. Have a tip or question for him? Email him at jscott@cpbj.com.

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