Realogy reports $50M in losses

Brokerage
giant Realogy Corporation reported a net loss of $50 million
in the
third quarter. Realogy includes the company-owned and franchise brands of
Coldwell
Banker, the Corcoran Group, Century 21 and Sotheby’s International
Realty. Revenues fell to $1.34 billion in the third quarter from $1.62
billion during
the same period last year. “The current economic conditions of this
country are weighing heavily on consumer confidence and thus on the
housing
industry,” said Richard Smith, Realogy president and CEO, in a
statement.