Realogy rebranding as Anywhere Real Estate

Brand refresh to complete by end of quarter

National /
May.May 12, 2022 02:45 PM
Realogy CEO Ryan Schneider (Realogy)

Realogy CEO Ryan Schneider (Realogy)

Realogy will soon be nowhere to be found. Well, actually, it’ll be Anywhere.

The entity that owns major brokerages including Corcoran, Coldwell Banker, Century 21 and Sotheby’s announced at an Investors Day event it is changing its name from Realogy Holdings Corp. to Anywhere Real Estate Inc.

The rebrand will be complete by the end of the quarter, according to the company. On a website for the rebrand, the company said the name change won’t directly affect its structure or daily operations on the company’s brokerage brands.

The company said the rebrand is part of a larger strategy that will see it invest in advances for “consumers who are demanding a more seamless, integrated transaction.” Realogy’s chief people officer Tanya Reu-Narvaez said in a statement the move “is not only a business and strategic transformation, but also a culture change.”

Realogy rode the hot housing market to a strong 2021 before marking last quarter as one of the best first quarters in company history. The peak came despite a 30 percent year-over-year decline in profits, which Realogy President and CEO Ryan Schneider blamed on an “unseasonably high 2021.”

The company also reduced its debt while expanding its iBuying arm — a joint venture with Blackstone’s Home Partners of America called RealSure — into new markets. Executives said Thursday they hope to surpass 20 percent market share by 2026.

Prior to the pandemic, Realogy was hit with a securities fraud suit amid falling stocks and shrinking market cap. The company announced in 2019 a partnership with Amazon called “TurnKey,” which was at the time panned by analysts. But Schneider embarked on a cost-cutting strategy that helped stocks rebound before last year’s hot real estate market buoyed the company’s bottom line.

Realogy, which employs nearly 200,000 independent agents in the United States and more than 130,000 abroad, reported being involved in roughly 1.5 million transactions last year. In addition to its stakes in major brokerages, the company also owns national title, settlement and relocation companies.





    Related Articles

    arrow_forward_ios
    A photo illustration of 6 South Oxford Street in Fort Greene (Compass)
    Townhouse set to smash Fort Greene price record
    Townhouse set to smash Fort Greene price record
    Mayor Eric Adams and Extell's Gary Barnett (Photos by Paul Dilakian)
    Real estate’s titans talk building, selling, and reinventing the city
    Real estate’s titans talk building, selling, and reinventing the city
    Ryan Serhant and Bess Freedman (iStock, Illustration by Kevin Cifuentes for The Real Deal)
    Ryan Serhant fires back at Bess Freedman, calls legacy brokerages “scared”
    Ryan Serhant fires back at Bess Freedman, calls legacy brokerages “scared”
    25 North Moore Street (Compass, iStock, Illustration by Kevin Cifuentes for The Real Deal)
    Manhattan luxury market slumps back toward normal
    Manhattan luxury market slumps back toward normal
    281 President Street and 1 John Street, Brooklyn (Streeteasy, Compass, iStock, Illustration by Kevin Cifuentes for The Real Deal)
    Jumbo Dumbo condo claims top Brooklyn contract
    Jumbo Dumbo condo claims top Brooklyn contract
    Johnson & Johnson's James Burke with 35 Potato Road/543 Daniel’s Lane (Johnson & Johnson, Realtor)
    Sagaponack waterfront estate sells for almost $48M
    Sagaponack waterfront estate sells for almost $48M
    Nest Seekers’ Bianca D’Alessio and Mia Calabrese (Nest Seekers, StreetEasy)
    Brooklyn Heights penthouse breaks rental record
    Brooklyn Heights penthouse breaks rental record
    Competition for Rentals Heats Up in Manhattan, Brooklyn, Queens
    Is Airbnb playing a role in NYC’s skyrocketing rents?
    Is Airbnb playing a role in NYC’s skyrocketing rents?
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...