Coldwell Banker United, Realtors® Acquires Coldwell Banker Coastal PropertiesJanuary 21, 2008
COLUMBIA, SC – January 21, 2008 – Coldwell Banker United, Realtors, the #1 Coldwell Banker affiliate in closed transactions within Coldwell Banker Real Estate LLC, announced today, the acquisition of Coldwell Banker Coastal Properties.
Coldwell Banker United, Realtors currently offers real estate services in South Carolina, Florida, North Carolina, Alabama, Mississippi and Texas. Coastal has offices in Charleston, Mount Pleasant and Summerville, SC.
Edmund H. Monteith, Jr., senior vice president for Coldwell Banker United, Realtors in South Carolina, said this is a great fit for the company. “In recent years, we have expanded in South Carolina and have offices in Upstate, the Midlands and now the Lowcountry, South Carolina. We are very excited to have Coastal Properties as a part of the United family. This partnership will allow the sales associates of Charleston, Summerville and Mt. Pleasant to continue in their day-to-day relationships with their communities and their customers that have made them so successful. We’ll provide what we believe to be the best tools and support in the real estate industry to help them increase their business.”
President and COO Jeffrey B. Wheeler agrees this is a natural fit for the company. “Charleston is and has been one of the best housing markets in the Southeast,” he said. “The community is diverse in its history, culture, and industry, including service, hospitality and the military. When the owners of Coastal Properties approached us and invited us to be a part of the market, we quickly said yes. Our goals are one and the same – to grow and expand the Charleston operation.”
Coldwell Banker Coastal Properties has four owners — Bobby Bryant, Charles Bell, Andrea Bell and Steve Young. According to the owners, the timing was right to join forces with a broker that could take Coastal Properties and its 100 sales associates to the next level and beyond.
Owner Bobby Bryant said, “We came together in July 2003, formed our partnership, and opened Mt. Pleasant’s first Coldwell Banker franchise. We’ve worked very hard to create a family-style work atmosphere and to attract other top-producers in the area. Our growth has been rapid and we knew it was time to find a partner that could help us continue that growth in the best way possible.”
According to Jim Gillespie, president and CEO of Coldwell Banker Real Estate, this merger will benefit consumers in the Charleston area. “Coldwell Banker has had a presence in the Charleston real estate market for many years. Coldwell Banker United, Realtors, brings a tremendous platform of technology and customer service, and has the reputation for innovation and integrity that customers expect in today’s real estate market.”
Monteith said the owners of the company will continue with the company in their personal sales roles.
About Coldwell Banker United, REALTORS
Coldwell Banker United, Realtors® was founded in Bryan/College Station, Texas, by Richard A. Smith in 1970 and has grown to 75 residential and three commercial offices in six states with over 2,400 sales associates. In 2006, the company was the number one affiliate in transaction sides among 1,278 independently owned and operated Coldwell Banker companies worldwide. According to REALTOR Magazine, REAL Trends and RISMedia, three industry trade publications, the company in 2006, was ranked #8 among all U.S. real estate companies in transaction sides. For more information, log on to www.cbunited.com.
REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.