Coldwell Banker Residential Brokerage Acquires Cashin Company in San Francisco Bay Area
Coldwell Banker Residential Brokerage, the leading real estate services company in the San Francisco Bay Area, is expanding with the acquisition of Cashin Company Realtors, one of the Peninsula's leading local brokerages.
- San Francisco, CA (1888PressRelease) November 12, 2010 - Coldwell Banker Residential Brokerage, the Bay Area's leading real estate services company, announced today that it has acquired the assets of Cashin Company Realtors, one of the Peninsula's largest and most prestigious local brokerage companies.
The move continues Coldwell Banker Residential Brokerage's strong trajectory of growth on the Peninsula and in the Bay Area. Founded in 1995 by Emmet J. "Skip" Cashin III, the Cashin Company Realtor's team of 270 real estate professionals in seven offices throughout San Mateo County accounted for more than $1 billion in annual sales volume in the last 12 months.
The seven-office, 270-agent firm will now operate under the banner of Coldwell Banker Residential Brokerage. With this announcement, Coldwell Banker Residential Brokerage in the San Francisco Bay Area now has more than 60 offices and 3,500 sales associates who accounted for more than $11 billion in sales volume last year.
"Cashin Company has been a highly successful real estate brokerage on the Peninsula for many years," said Rick Turley, president of Coldwell Banker Residential Brokerage in the San Francisco Bay Area. "They are a perfect fit with Coldwell Banker in terms of our respective cultures, our core values and our strength in the local marketplace, especially in the luxury market.
"During this economic climate and challenging real estate market, it's more important than ever to be the clear industry leader," Turley said. "Sellers seek out the very best in times like this, and we believe bringing Cashin and its talented team of agents into our company will only strengthen our leadership position in the marketplace."
Cashin said his firm had many suitors in recent years, but decided that Coldwell Banker Residential Brokerage was the right choice in terms of the scale and scope of the nation's leading brokerage company, agent support, technological tools, networking opportunities, and cultural fit.
"Coldwell Banker shares our culture of service excellence that values customized service for each and every client," he said. "Additionally, they are the premier real estate brand around the world and offer a robust marketing platform and referral network that will help our sales associates achieve even greater results for their clients."
Cashin said he plans to lend his more than 40 years of real estate experience and contacts to the extended family of agents now under the Coldwell Banker banner. Chuck Alloo, who has served as chief operating officer and co-founded the firm with Cashin, will continue in a senior management role.
Turley and Cashin announced the acquisition this morning in an informal meeting with Cashin Company managers and agents. Turley and other Coldwell Banker Residential Brokerage executives will visit all of the former Cashin Company offices in the coming days to meet individually with agents and hear their ideas for ways the company can better support agent goals and help them grow their businesses.
Cashin Company Realtors is the latest in a long line of acquisitions of prestigious Northern California brokerages for Coldwell Banker Residential Brokerage over the past decade. Others include Fox & Carskadon, TRI, Contempo, Del Monte Realty, Cornish & Carey Residential Real Estate, and Pacific Preferred Properties, Inc.
Recent acquisitions have helped build on Coldwell Banker Residential Brokerage's leading position in the Northern California real estate market, particularly in the luxury segment. Year to date, the company accounted for the sale of more than one out of four properties priced above $3 million and one out of every three properties above $5 million in the Bay Area, according to MLS Listings.
About Coldwell Banker Residential Brokerage
Coldwell Banker Residential Brokerage is the largest residential real estate brokerage in Northern California, serving communities from the Monterey Bay to Lake Tahoe and nearly every market in between. The company has approximately 60 offices and more than 3,500 sales associates throughout Northern California. Through its internationally renowned Coldwell Banker Previews® program, the company leads the luxury home market, selling more than one out of four properties priced above $3 million and one out of every three properties above $5 million. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation's largest residential real estate brokerage company. NRT has 760 offices and 46,000 sales associates operating in more than 35 major metropolitan areas. A subsidiary of Realogy Corporation, NRT operates Realogy's company-owned real estate brokerage offices. For more information, please visit www.CaliforniaMoves.com or call 925.275.3085. DRE # 00313415.
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