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MarketScreener Homepage  >  Equities  >  Nyse  >  Realogy Holdings Corp.    RLGY

REALOGY HOLDINGS CORP.

(RLGY)
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Realogy : LEADING VENTURA INDEPENDENT BROKERAGE IS LATEST CALIFORNIA FIRM TO AFFILIATE WITH BETTER HOMES AND GARDENS REAL ESTATE

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08/19/2020 | 10:22am EDT

Donna Wood and Krista Cherry purchased the company in 2016 and each has 20 years of experience in real estate. The company finished 2019 with $56 million in sales volume and 105 transaction sides as the second largest independent brokerage in the region according to Ventura County Coastal Association of REALTORS©.

The region has always been a tourist destination, but the arrival into Ventura County of such prominent companies as Patagonia, Amgen and The Trade Desk has fueled greater interest and jobs. Santa Barbara has maintained its affluent standards with home prices about 30% higher than the rest of the region with very low inventory throughout.

Details:

  • Better Homes and Gardens Real Estate Property Shoppe is the seventh California firm to affiliate with the BHGRE network in the past 18 months. They become the 17th BHGRE franchisee in California.
  • Krista Cherry and Donna Wood will maintain their 'boutique feel and treatment' that brings a high number of referrals. They plan to grow the company to as many as 50 agents.
  • Krista Cherry, who has her Bachelor's and Master's degrees from Cal State Northridge began her career in translation and software localization prior to becoming an agent. Donna Wood was initially in the banking industry. The two met seven years ago and partnered in real estate prior to purchasing Ventura County Property Shoppe.
  • The median sales price in Ventura is currently $705,000 according to the California Association of REALTORS®. It has not moved much with the impact of Covid-19. Santa Paula and Fillmore are more affordable with a median list price as of March 2020 of $544,995 and $575,000, respectively, according to the California Association of REALTORS. County inventory levels locally are at a 3.9-month supply, one of the lowest on record which continues to drive higher prices.

Quotes:

'We are thrilled to welcome Donna and Krista to the growing list of affiliated BHGRE brokerages. They have built a strong company based almost exclusively on the power of outstanding service leading to referrals. Our strong brand presence and name recognition, along with our award-winning training provided by Be Better University®, will help the entire team at Better Homes and Gardens Real Estate Property Shoppe grow their business and presence even further.'

Sherry Chris, President & CEO, Better Homes and Gardens® Real Estate

'Better Homes and Gardens Real Estate is a great fit for us, and we are excited that our agents and clients will benefit from the brand's powerful resources.We have had the pleasure of creating a well-known and respected company within our community through our referral philosophy and local knowledge.We felt it was time to take the next step and partner with a company that shared our values and would help our agents thrive and provide lifestyle services, content and value to our clients.Ventura County continues to grow and attracts residents from surrounding counties like Santa Barbara where the cost of living is higher than Ventura County. With the influx of top tech firms, manufacturing, and tourism, our first-time and move-up buyers have been able to take advantage of historically low mortgage rates and the affordability and desirability of our region. While we have big-city amenities, we have maintained our friendly, small-town feel that is so valued. Better Homes and Gardens Real Estate will certainly afford us greater opportunities to showcase the incredible lifestyle we enjoy as we grow our market share.'
Krista Cherry, Broker/Owner, Better Homes and Gardens Property Shoppe

'We have done really well as an independent company, but Krista and I were exploring how we could better help our agents even further with more training and support. When we were approached by Better Homes and Gardens Real Estate and heard what they had to offer, we immediately realized that the BHGRE brand just felt like home. Their lifestyle focus is a good fit for our community and us. We will continue to strive to make our clients outrageously happy and welcome agents who put client relationships and needs first. Many in our industry value their paycheck first. We believe if you do an outstanding job for your clients and exceed their expectations, the rewards follow.'
Donna Wood, Broker/Owner, Better Homes and Gardens Property Shoppe

About Better Homes and Gardens Real Estate LLC

Better Homes and Gardens Real Estate LLC is a dynamic real estate brand that offers a full range of services to brokers, sales associates and home buyers and sellers. Using innovative technology, sophisticated business systems and the broad appeal of a lifestyle brand, Better Homes and Gardens Real Estate LLC embodies the future of the real estate industry while remaining grounded in the tradition of home. Better Homes and Gardens Real Estate LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.

The growing Better Homes and Gardens® Real Estate network includes nearly 13,000 independent sales associates and more than 370 offices serving home buyers and sellers across the United States, Canada, Jamaica, The Bahamas, Australia and New Zealand.

Better Homes & Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC and used with permission. An Equal Opportunity Company. Equal Housing Opportunity. Each Better Homes and Gardens® Real Estate Franchise is independently owned and operated.

Media Contact:

Marie VanAssendelft
201-724-6372
Marie.vanassendelft@bhgre.com

Disclaimer

Realogy Holdings Corp. published this content on 19 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 August 2020 13:21:13 UTC


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Financials (USD)
Sales 2020 5 382 M - -
Net income 2020 -353 M - -
Net Debt 2020 3 028 M - -
P/E ratio 2020 -3,20x
Yield 2020 -
Capitalization 1 143 M 1 143 M -
EV / Sales 2020 0,78x
EV / Sales 2021 0,66x
Nbr of Employees 10 150
Free-Float 99,0%
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 12,17 $
Last Close Price 9,90 $
Spread / Highest target 102%
Spread / Average Target 22,9%
Spread / Lowest Target -4,04%
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Managers
NameTitle
Ryan M. Schneider President, Chief Executive Officer & Director
Michael J. Williams Independent Chairman
Charlotte C. Simonelli Chief Financial Officer, Treasurer & Executive VP
Dave Gordon Chief Technology Officer & Executive VP
V. Ann Hailey Independent Director
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