Coldwell Banker Creates New Firm in Expansion

Coldwell Banker Residential Real Estate said Thursday that it has created a new operating company in the Los Angeles area to oversee 29 of its company-owned real estate offices and to launch a regional expansion drive.

The new company, which will oversee more than 1,200 sales agents, will serve Los Angeles, Ventura and Santa Barbara counties. David C. Holloman, previously a vice president and director of administration for Coldwell Banker Residential Real Estate, has been selected as president of the new regional operation.

Previously, the Los Angeles-area offices were managed by the Coldwell Banker Southern California division, which included Orange and San Diego counties.

Operations in Orange and San Diego counties will continue to be managed as a single unit in a division headed by Tom Williams, formerly head of the now-defunct Southern California division.

Splitting the Southern California operation into two separate companies marks the start of a drive to expand the number of company-owned offices in the Los Angeles metropolitan area, according to Chandler B. Barton, chairman, president and chief executive officer of Coldwell Banker Residential Group.

The new regional office, headquartered in West Los Angeles, plans to hire a number of people, including an administrative and financial officer, and marketing, personnel and support staff.

Coldwell Banker has more than 1,900 franchise and company-owned residential brokerages and over 40,000 agents in North America. In Southern California, the company has 133 franchise and company-owned offices and more than 3,800 agents.

Coldwell Banker Residential has 20 company-owned offices with about 700 agents in Orange County and 22 company-owned offices with about 800 agents in San Diego County.