From this morning’s office meeting at Coldwell Banker Old Greenwich:
10: Chris Fountain Blog – board and CB legal following up
I readily admit that I don’t have the advantage of having been dropped on my head repeatedly as a baby as certain people at Coldwell Banker were, but it seems to me that if I had a legal obligation to pay a commission to another selling agent, I’d pay him, rather than devote staff time to venting about what a mean person he was. But fine – you bring on your lawyer, I’ll bring on my tripod and donation kettle in front of your soon-to-be-shuttered storefront in OG. Won’t we have fun!
Realogy, corporate owner of Century 21, Sotheby’s and Coldwell Banker, is shutting down its Coldwell Banker Litchfield office and shedding 15 agents. The closing came as a surprise to the agency because they’d been doing well “but not well enough, obviously”, according to its manager. As I warned last year, when Apollo Management, owner of Realogy, saddled its subsidiary with junk debt and onerous interest payments, the strain of making those payments would jeopardize even strong real estate offices. I guess it has.
The firm is moving (has moved?) from its Field Point Road headquarters to what was Preferred Properties glass box on the Post Road. Too bad – those were nice digs.
And without getting into some sort of “who’s better” contest, I notice that they have an ad in today’s real estate section of the Greenwich Time boasting that their 120 agents were involved in 22% of every transaction that went down between August 1st and November 30th of this year. That’s great, and certainly better than I’ve done this fall, but the actual numbers behind those statistics aren’t all that encouraging: We saw 66 contracts in those four months, 17 condos (22% = 4) and 49 single families (22% = 11). Divided among 120 agents, it would seem that many of them had the same disappointing fall that I did. Oh well, onward and upward.