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Coldwell Banker Residential Brokerage Acquires Jim Burton Realty in Popular Summer Destination of Overgaard, Ariz.
PHOENIX, Ariz. – April 4, 2006
Coldwell Banker Residential Brokerage in Arizona today announced that it has acquired the assets of Jim Burton Realty, Inc., in Overgaard, Ariz. The company’s single office will now operate under the banner of Coldwell Banker Residential Brokerage.
James Burton, owner of his namesake company, will continue in his role as branch office manager in the newly combined organization. Sonna Slack, also an owner of Jim Burton Realty, will continue with the company in her sales role.
“The team at Jim Burton Realty is stellar, and I am honored to be associated with them,” said Bill Jilbert, president and COO of Coldwell Banker Residential Brokerage in Arizona. “From a strategic perspective, Overgaard is a popular summer destination for Phoenix area residents, and extending our real estate services into this area complements our existing operations in Show Low and Pinetop.”
With this announcement, Coldwell Banker Residential Brokerage now operates 41 offices in Arizona with more than 2,150 sales associates that accounted for $6.9 billion in closed sales volume in 2005. Jim Burton Realty’s 16 sales associates accounted for $63 million in closed sales volume during the past 12 months.
“Our sales associates will have tremendous resources available to them as a result of this union, and Sonna and I strongly believe that this will provide greater opportunities to them as well as our clients,” said Burton. “We’ve gotten to know the leadership team at Coldwell Banker Residential Brokerage, and we can see that we share a similar culture — one that is dedicated to excellence in customer service.”
Coldwell Banker Residential Brokerage is part of the NRT family of companies. NRT Incorporated, a subsidiary of Cendant Corporation (NYSE: CD), is the nation's largest residential real estate brokerage company. NRT (www.nrtinc.com) has more than 1,000 offices and 64,000 sales associates operating in over 35 metropolitan areas. In 2005, NRT posted a real estate industry record of $230 billion in closed sales volume.
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