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Coldwell Banker Residential Brokerage Acquires Encore Property, Inc. in Menlo Park, Calif.
MENLO PARK, Calif. - October 5, 2006
Coldwell Banker Residential Brokerage, the largest residential real estate brokerage in the San Francisco Bay Area, today announced that it has acquired Encore Property, Inc. in Menlo Park, Calif. The residential real estate firm, which serves Atherton, Menlo Park, Palo Alto, Portola Valley, Woodside and surrounding communities throughout the mid-Peninsula, will now operate under the banner of Coldwell Banker Residential Brokerage.
Tom Hilligoss, former owner and principal, and his team of four sales associates, will remain with Coldwell Banker Residential Brokerage in sales roles and be based out of the company’s Menlo Park Santa Cruz Avenue office, led by real estate veteran David Hobson. Hilligoss opened Encore Property in 2000 and has since grown it to be among the most prestigious boutique brokerages in the Peninsula. During the past 12 months, the company accounted for more than $85 million in sales volume.
"Encore Property is a respected brokerage with a wonderful tradition of serving luxury home owners throughout the Peninsula,” said Avram Goldman, president and chief operating officer of Coldwell Banker Residential Brokerage in the San Francisco Bay Area. “This acquisition further strengthens our leading position in San Mateo County, particularly in the upper end. We look forward to Tom and his team complementing our already outstanding group of real estate professionals."
Adam Nyberg will join Bob Nicholson, branch vice president on the management team, and Christa Nyberg, Clark Nyberg, and Vicki Nyberg will continue in a sales capacity with the company.
With the acquisition of Encore Property, Coldwell Banker Residential Brokerage continues its expansion in key markets throughout Northern California and reinforces its position as the Bay Area’s No. 1 residential real estate brokerage in closed sales volume, according to the San Francisco Business Journal’s 2005 Top Real Estate Firms list.
The company’s formula for growth, which combines acquisitions with recruiting top industry talent, has proven successful for Coldwell Banker Residential Brokerage. With this acquisition, the company operates 33 offices and has more than 2,300 sales associates in the San Francisco Bay area.
Goldman said, "I believe talented agents will continue to be attracted to us from other companies because of our size, our reputation, our commitment to supporting our agents and the community, and our global reach."
"By joining Coldwell Banker Residential Brokerage, a company known for its vast resources and support, my sales team and I will gain the opportunity to expand our professional goals and provide our customers and clients with extensive products and services," said Hilligoss. "We are excited to join the industry leader and are pleased to now be part of the Coldwell Banker Residential Brokerage family."
Hilligoss, a Peninsula resident since 1964, has been a top producing sales associate serving the local real estate market for more than two decades. He has earned prestigious accolades with his previous firms as the No. 3 agent internationally in 1996 and the No. 6 agent internationally in 1997, out of more than 60,000 sales associates worldwide.
About Coldwell Banker Residential Brokerage
Coldwell Banker Residential Brokerage, the largest residential real estate brokerage in Northern California, serves the markets of Sacramento/Tahoe, San Francisco Bay Area and Silicon Valley. The company has 68 office locations and more than 4,800 sales associates throughout Northern California. Through its internationally renowned Coldwell Banker Previews® program, the company is widely recognized for its expertise in the luxury housing market. Coldwell Banker Residential Brokerage is a member of the NRT family of companies. NRT Incorporated, a subsidiary of Realogy Corporation (NYSE: H), operates Realogy’s company-owned real estate brokerage offices. For more information please visit www.CaliforniaMoves.com or call 925.275.3085.
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