REAL ESTATE : Coldwell Banker Plans to Expand by Recruiting 200 Affiliates in Canada
Coldwell Banker Residential Real Estate--a Sears subsidiary based in Newport Beach--says it will expand into Canada.
The company said it will affiliate with independent real estate brokerages and will not actively pursue buying brokerages.
The third-largest brokerage in the nation, Coldwell Banker has 2,100 offices, about half owned by the company and half affiliates.
Coldwell set up a new Canadian subsidiary in Toronto that will recruit affiliates in that market, where housing prices in some neighborhoods have risen to near-California levels.
Chandler B. Barton, chairman of Coldwell Banker Residential, said in a press release he expects the brokerage to have 200 affiliates in Canada within 4 years and to become “a major force in the Canadian market.”