IRVING, Texas, March 13 /PRNewswire/ -- Coldwell Banker Residential
Brokerage, Dallas/Fort Worth, the market leader in the D/FW Metroplex, today
announced the acquisition of the Metroplex' third largest* residential real
estate company, Henry S. Miller, Realtors, to strengthen its No. 1 position in
Texas residential real estate.*
"We're honored to welcome the Henry S. Miller team of professionals to the
Coldwell Banker family," said Linda Berg, president/chief operating officer of
Coldwell Banker Residential Brokerage, D/FW. "We believe this union provides
an ideal situation for both firms' teams because of our increased market share
and dominant presence in the North Texas market. This combination enables
Coldwell Banker Residential Brokerage to achieve unparalleled depth,
resources, knowledge and experience. The D/FW Metroplex, one of the fastest-
growing markets in the nation and the number-one job market in the country, is
positioned to take advantage of its status as one of the most dynamic real
estate areas in the country."
Founded in 1914 by Henry S. Miller, the company that bears his name has
grown into one of Texas' most successful independent real estate brokerages.
With 30 offices and more than 1,000 sales professionals, Henry S. Miller,
Realtors, achieved $2.7 billion in closed sales volume in Texas for 2000. In
the Dallas/Fort Worth Metroplex, Henry S. Miller, Realtors achieved
$1.75 billion in closed sales volume in 2000 with its 19 offices and more than
750 sales professionals.
The Henry S. Miller Companies will retain ownership and control of its
commercial and real estate development operations, with Vance C. Miller
remaining as chairman and chief executive officer. Heidi Holman, former
president of Henry S. Miller, Realtors, will serve as president of the new
Henry S. Miller division of Coldwell Banker Residential Brokerage - D/FW.
Coldwell Banker Residential Brokerage of Dallas/Fort Worth, a member of
the NRT family of residential real estate companies, ranked first in 2000
closed sales volume and transaction sides in the D/FW Metroplex. The
brokerage completed $2.9 billion in closed sales volume last year.
Now with more than 45 locations and 2,000 sales professionals, Coldwell
Banker Residential Brokerage greatly extends its lead in the D/FW Metroplex
and in all of Texas, based on combined closed sales volume in excess of $4.6
billion in 2000.
"This union gives our sales professionals access to industry and
technological developments far in advance of their competition," said Ms.
Holman. "I'm excited to be a part of the senior leadership team with Coldwell
Banker Residential Brokerage of Dallas/Fort Worth. As members of a family of
companies under the NRT umbrella, our teams will benefit from a strong,
financially stable company with unmatched resources. Coldwell Banker will
play a major role in creating the future of real estate in Texas."
This merger includes the residential real estate and mortgage operations
of Henry S. Miller, Realtors, in the Dallas/Fort Worth area. Henry S.
Miller's company in Colorado, Perry & Butler Realty, with 11 office locations,
today also merged with another member of the NRT family, Coldwell Banker
Residential Brokerage of Colorado.
In addition, Henry S. Miller's eight residential real estate offices in
Houston will join Coldwell Banker United, Realtors, and its four residential
offices in Austin will become part of Coldwell Banker Richard Smith, Realtors.
Both of these companies are owned and operated by Richard Smith.
"This event is an unparalleled opportunity for our sales agents," said Mr.
Miller, who followed in his grandfather's and father's footsteps to oversee
the family-owned business. "Our talented sales force will have the best
technology and resources available within a progressive climate that supports
their needs and their dedication to our loyal customers."
Coldwell Banker Residential Brokerage is the No. 1 residential real estate
operation in Texas. The company is independently owned and operated by NRT,
the nation's largest real estate brokerage as well as the largest affiliate of
Coldwell Banker Real Estate Corporation, a subsidiary of Cendant (NYSE: CD).
Coldwell Banker franchises more than 3,100 real estate offices with nearly
72,000 sales professionals throughout North America.
NRT is the nation's largest residential real estate brokerage company with
more than 650 offices, 32,000 sales associates and closed sales volume of
$105 billion in the year 2000. NRT independently owns and operates companies
in 22 of the nation's largest metropolitan areas. The NRT family of companies
do business under the COLDWELL BANKER(R), ERA(R) and CENTURY 21(R) brand
names. NRT is a joint venture between Cendant and Apollo Management L.P.
* Figures based on 2000 closed sales volume and transaction sides
according to NTREIS (North Texas Real Estate Information System)
SOURCE Coldwell Banker Residential Brokerage