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
    The seven-bedroom mansion sits on land once owned by George Washington. (TTR Sotheby's International Realty)
    Washington Commanders owner unmasked as buyer of DC-area’s most expensive mansion
    Washington Commanders owner unmasked as buyer of DC-area’s most expensive mansion
    (Georgia MLS via Zillow)
    Pole Vault: Stately Georgia home has strip-club-esque basement
    Pole Vault: Stately Georgia home has strip-club-esque basement
    The cryptonaires will see you now
    The cryptonaires will see you now
    The cryptonaires will see you now
    Real estate’s richest get richer on Forbes’ billionaire list
    Real estate’s richest get richer on Forbes’ billionaire list
    Real estate’s richest get richer on Forbes’ billionaire list
    Opendoor amasses $9B in borrowing capacity
    Opendoor amasses $9B in borrowing capacity
    Opendoor amasses $9B in borrowing capacity
    iBuyer bonds attracting Wall Street capital
    iBuyer bonds attracting Wall Street capital
    iBuyer bonds attracting Wall Street capital
    Compass shares plummet, then recover in volatile morning after lockup ends
    Compass shares plummet, then recover in volatile morning after lockup ends
    Compass shares plummet, then recover in volatile morning after lockup ends
    Berkshire Hathaway HomeServices CEO Christy Budnick (Berkshire)
    Berkshire Hathaway HomeServices names new CEO
    Berkshire Hathaway HomeServices names new CEO
    arrow_forward_ios

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

    Loading...