Prudential Sees Benefit in Coldwell Sale
The Prudential Real Estate Affiliates Inc. in Costa Mesa sees an upside to HFS Inc.’s proposed acquisition of Coldwell Banker Corp. in Mission Viejo. Prudential expects to attract real estate brokers who do not want to be part of the New Jersey-based HFS family of hotel and real estate companies, which include ERA and Century 21.
“We view HFS’ takeover of Coldwell Banker as a positive development for PREA,” explained Stephen Bauer, Prudential Real Estate’s president. Bauer said HFS’s multibrand relationship is not in the best interest of brokers or home buyers.
“What happens when a home seller is being represented by a Century 21 agent and a home buyer is being represented by Coldwell Banker? And how will consumers differentiate one brand from another, given that there will likely be some sharing of ideas and information through the parent company?” he said.
HFS says consumers will be attracted to its one-stop real estate brokerage services throughout the country.
The Prudential Real Estate Affiliates network posted 1995 sales of $52.4 billion.
Debora Vrana covers real estate for The Times. She can be reached at (714) 966-5979 and at debora.vrana@latimes.com.
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