No more Coldwell HomeSale
Local realestate leader now a Prudential franchise.
  • Launching Prudential Homesale Services Group today are (from left) Mark Korman, Earl Lee, Doug Rebert, Laurie Keenan, Pete Slaugh, John Van Der Wall and Ron Landis.

  • Signs of the times

By TIM MEKEEL
Lancaster
Updated Oct 03, 2008 11:06

The most common "For Sale" signs in front yards here will have a different name on them, starting today.

Coldwell Banker HomeSale Services Group, the county's biggest real estate firm, has become Prudential Homesale Services Group.

As a Prudential franchise, the Lancaster-based firm believes it can offer more leads to home sellers, more choices for home buyers and more training to staff, among other advantages.

"We're going to deliver more opportunities to both buyers and sellers...," said Pete Slaugh, a managing director. "Our communication with them will be industrial strength."

Doug Rebert, also a managing director, said the local firm's owners feel Prudential offers superior technology and marketing, which will benefit customers and agents alike.

"The tools they provide are a cut above those of other real estate franchises," said Rebert.

For instance, home buyers can get detailed information about homes listed for sale with a Prudential franchise in a single step — by entering a number on the Yahoo! Web site.

Prudential technology also allows home sellers to get the names and responses of people who attend showings of their houses via an automated e-mail message system.

"The technology will bring our customers more data in real time...," said Slaugh.

Today's announcement marks the end of the local firm's 25-year affiliation with Coldwell Banker, a time that's seen the firm grow significantly both internally and by acquisition.

Waves of expansions over the years have given the newly christened Prudential Homesale Services Group 23 offices in nine counties, including seven offices here.

From its 215 S. Centerville Road headquarters, the locally based firm oversees 1,000 real estate agents and 350 office personnel, including 500 employees here.

The firm represented buyers or sellers of $2.09 billion of real estate in 2007, the most in southcentral Pennsylvania and 29th most in the nation.

When the revenue from its mortgage and title businesses is included, it's the 16th largest real estate firm in the nation.

As a Coldwell Banker franchise, it was the largest in the state and third largest in the world. As a Prudential franchise, it's among the top 10 worldwide.

That top 10 ranking will be solidified by another announcement today — that Prudential Homesale Services Group has made two more acquisitions.

Joining the local firm are Prudential Commonwealth Real Estate, a one-office firm with 49 agents based in Wyomissing, Berks County, and Prudential Pinebrook-Higgins Realty, a two-office firm with 39 agents based in Orwigsburg, Schuylkill County.

The unveiling of Prudential Homesale Services Group today was the result of a process that began last spring, when the local firm's leadership team began studying whether to stay with Coldwell Banker.

Prompting the process was the fact that its franchise agreement with Coldwell Banker was due to expire Dec. 31. Later it was extended through Monday.

Deciding to switch to Prudential was easy, given the higher level of services and support offered by the national organization, according to Slaugh.

"If you liked us yesterday, you'll love us today," he said.

The challenge, though, was making the transition "as seamless as possible" for buyers, sellers and agents, as Rebert put it.

That proved to be an enormous task, involving the production of eight tractor-trailer loads of new materials carrying the Prudential logo, he said.

Everything from business cards to Web site pages to name badges had to be replaced or updated, a job that took weeks, he said.

As part of that transition, crews today started another huge undertaking — pulling the old Coldwell Banker "For Sale" signs and displaying the new Prudential signs at some 3,000 homes listed for sale by the firm.

Also beginning today, the firm's new affiliation will be trumpeted in newspaper ads, on billboards and in radio and television commercials, according to Rebert.

In total, Prudential Homesale Services Group is spending at least $1.3 million to make the conversion and announce it across the firm's 12-county market, he said.

Although switching franchises has been a complex and expensive task, Rebert said becoming an independent real estate firm was not a viable option.

"If you make a commitment to sellers to give them every possible resource," he explained, "you need to be a part of a national franchise for its broker-to-broker referrals, its relocation network, its tools and its brand-name recognition."

CONTACT US: tmekeel@LNPnews.com or 481-6030

Talkback on LancasterOnline

Welcome to the new TalkBack on LancasterOnline. Please use the comment box below to share your opinion on this article. If you would prefer to use the previous TalkBack forums instead, please use this link.

blog comments powered by Disqus
Switch to Full Site
Download our Apps
Tablet Zoom Control: Zoom | Normal