Realogy Corp. officials on Monday detailed continued plans to cut costs through office consolidations and other actions in response to the reeling real estate market.
After consolidating about 67 company-owned brokerage offices in 2007, Realogy has plans to consolidate or reduce in size an additional 70 company-owned office locations during the first two quarters of this year, said Richard A. Smith, company president and CEO, during an earnings conference call Monday. more…
Tags: Industry News · Inman Real Estate · Real estate brokerage · apollo · brokerage · coldwell · consolidation · glenn robers jr. · realogy · reo
Real estate brokerage and franchise company Realogy Corp. reported a $797 million net loss in 2007 for the period since its April 10 acquisition by an affiliate of private equity firm Apollo Management LP.
The company also reported a $44 million net loss for the period from Jan. 1, 2007, through April 9, 2007. That compares with net income of $365 million in 2006 and net income of $627 million in 2005. more…
Tags: Industry News · Inman Real Estate · Real estate brokerage · apollo · brokerage · earnings · franchise · glenn roberts jr. · net loss · realogy