DALLAS, May 18 /PRNewswire/ -- The real estate industry's top analyst said today the newest residential real estate firm in the Dallas/Fort Worth Metroplex also is the biggest in its market area as well as the biggest in Texas. "This is a Texas-size operation in every sense of the word," said Steve Murray, publisher of "REALTrends", an industry trade publication and publisher of the annual Big Brokers Report. "The new alliance places Coldwell Banker Residential Brokerage ahead of former leader Ebby Halliday, Realtors, by about 650 closed transactions. "Coldwell Banker Paula Stringer, Realtors' merger last week with Wm. Rigg, Realtors, was closely followed by the joint entity's acquisition by NRT Incorporated, and places the company in the lead for both the Dallas/Fort Worth area and the state." "REALTrends" is a publication that measures and analyzes market position for brokers across the country. Murray frequently is quoted as a prophet for changing trends in real estate. Coldwell Banker Paula Stringer and Rigg closed transactions in 1998 totaling 16,836, Mr. Murray said, placing the merged company ahead of the Ebby Halliday firm, Dallas' largest independent broker, which logged 16,186. Combined closed sales volume for the newly merged companies in 1998 was $2.6 billion, a figure disclosed last week at the announcement events held for the media and the two firms' 1,100 professional associates. The combined gross production was generated by sale of 18,041 units and 11,236 listings. Those closed transaction totals, which most industry experts use as a measuring tool for comparing sizes of brokerages, were not available until this week. "This is the first of many exciting announcements signaling our new company's achievements and leading-edge status," says Susan Dunn Arnold, president of the Dallas division of Coldwell Banker Residential Brokerage. "Our sales associates are very pleased to have the expanded coverage of the Metroplex as well as the alliance with the former Wm. Rigg associates, many of whom they have known and worked with for many years. Ms. Arnold and Charles Rogers, president of the Fort Worth division, continue as leaders of the newly merged company. Mr. Rogers said his company's leap from an independently owned Fort Worth- based brokerage to top position in the Metroplex and the state was cause for celebration among the former Rigg associates. "We are delighted to offer our buyers and sellers the advantages of a world-class operation like Coldwell Banker," he said. "High technology, international networking and the best training and educational programs in the industry are superb reasons for the move we've just made." Last week's merger/acquisition was described by area industry gurus as perhaps the most significant growth move in Texas real estate history, combining resources of more than 1,100 professional associates and 35 locations and instantly moving the company into a leadership position in the market place. NRT, the nation's leading residential real estate brokerage company, was founded 18 months ago and has added 19 major market brokers to its operations in high-profile cities throughout the nation. Buyers and sellers may contact any Coldwell Banker Paula Stringer or Wm. Rigg office, all of which have been newly bannered with Coldwell Banker Residential Brokerage.
SOURCE Coldwell Banker Residential Brokerage