MLS Real Estate & Listings Blog

The National Association of Realtors has plans to call nine witnesses to testify in court if an antitrust lawsuit filed by the U.S. Justice Department proceeds to trial, and may call upon an additional list of 14 witnesses.

A preliminary live trial witness list, produced by the National Association of Realtors in a Feb. 14 court document, includes a list of "will call" witnesses and a separate category of "may call" witnesses.  more…

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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…

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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…

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Despite the tough market, RE/MAX International reported on Tuesday that the company sold 940 franchises in 2007 and boosted its net office count by 4 percent compared to the prior year.

The company had 7,016 offices at the close of 2007. Texas, the Carolinas and Florida had the highest franchise growth in the United States, and Italy, Portugal and the Czech Republic led overseas franchise sales, the company announced.  more…

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