REALOGY UNVEILS NEW NAME, ENTERS NEXT PHASE OF
TRANSFORMATION FOCUSED ON THE CONSUMER
Unique Industry Advantages and Powerful
Financial Position Enable Company to Build a
Better Consumer Future that Empowers Everyone's Next
Move
MADISON,
N.J., May 12, 2022 /PRNewswire/
-- Realogy Holdings Corp. (NYSE: RLGY), a global leader
in residential real estate services, today announced the company
will rebrand as Anywhere Real Estate Inc. (referred to as
"Anywhere"), signaling a deep commitment to reimagine the consumer
experience at any point in the real estate transaction journey.
Home to renowned real estate brands, Better Homes and
Gardens® Real Estate, CENTURY 21®,
Coldwell Banker®,
Corcoran®, ERA®, and Sotheby's International
Realty® as well as national title, settlement, and
relocation companies and scaled mortgage origination and
underwriting joint ventures, the company expects to implement the
rebrand by end of second quarter 2022.
During an investor event today, Realogy also laid out the next
phase of its strategy, which will leverage its advantaged market
position and ability to invest to improve and simplify the home
buying and selling experience for consumers who are demanding a
more seamless, integrated transaction.
"With very positive momentum, we will harness the power of our
extensive agent network, leading brands, scaled core services, deep
technology and data, and strong financial flexibility to create a
better transaction experience for any consumer, anywhere," said
Ryan Schneider, Realogy
president and chief executive officer. "We are so excited about the
opportunity ahead of us that we chose to rename and rebrand the
company to reinforce our commitment to delivering this future."
"While buying or selling a home can be an exciting next chapter
for any individual or family, the process around that experience
hasn't kept pace with the digital transformation in other
industries," said Melissa
McSherry, Realogy chief operating officer. "Our goal is
to leverage our differentiated market position, including with
technology, to streamline the buying and selling journey and allow
consumers to focus on what matters most – the joy of home
ownership. This focus will guide how we evolve our product
strategy for both consumers and agents as the trusted advisors of
the transaction."
Since 2018, the company has been executing a largescale
transformation that has led to increased profitable growth, a
fortified balance sheet, innovative technology and marketing
products, and an invigorated culture with a track record of
attracting great talent and driving success.
"I am incredibly proud of our industry-leading talent, franchise
owners, and affiliated agents who have contributed to Realogy's
significant transformation progress," continued Schneider.
"We are stronger, we are operating with greater speed and agility,
and we are consistently delivering impressive results as we move
real estate to what's next."
During the investor presentation, leaders also laid out bold
2026 financial targets, including the goal of surpassing 20% market
share through its accelerated expansion. An updated capital
allocation strategy, leveraging the company's free cash flow, aims
to balance investments in powerful growth initiatives with the
flexibility of returning capital to investors.
"We have demonstrated unmatched operational execution to drive
above market growth, increased top and bottom-line performance, and
a significantly stronger balance sheet," said Charlotte Simonelli, Realogy chief financial
officer. "Our consistency of delivery, financial flexibility, and
differentiated track record of free cash flow generation enable us
to further reinvest in our business and return additional value to
shareholders. I am proud of the success our team has driven to pave
the way to a new era of growth for our company, serving an
ever-expanding market."
A New Name, a New Day for Real Estate
Taking inspiration from the company's strategy, the Anywhere
brand represents the desire to meet consumers anywhere on
the transaction journey across the entirety of the market. The "re"
at the end of the Anywhere name nods to the brand's prominence
within the Real Estate industry. The Anywhere mark is an
eight-stroke asterisk, symbolic of depth, connectivity, and
amplification, with the bottom vertical stroke falling away to lie
horizontally as the foundation of a home. While the two lower
strokes of the asterisk come together to form a pitched roof, the
linear middle strokes form the horizon line and the upper three
strokes form the arc of a sun rising above the home, conveying the
potential that comes with a new day. The Anywhere logo colors are
deep midnight blue, expressing vast opportunity, and
vibrant orange, evoking hope, joy, and illumination, all
benefits the Anywhere brand will bring to the consumer experience.
"We are home to a dynamic portfolio of real estate brands that
each have their own unique story and power in the market," said
Schneider. "As we set forth our bold consumer-first,
agent-led strategy, it was clear there was one brand that did not
carry that same emotional connection – the Realogy brand. The
Anywhere name and identity serve as both our aspiration and
commitment to changing the transaction experience for consumers.
It's truly a new day for real estate."
As part of the rebrand, the company will also align to a new
enterprise positioning to further move its culture and talent
strategy into the future. The purpose, "Empower everyone's next
move," speaks to many of the company's stakeholders, including
employees, entrepreneurs, and consumers, by pledging to provide the
products, tools, and resources to foster a culture where anyone can
win.
"This is not only a business and strategic transformation but
also a culture change," said Tanya
Reu-Narvaez, Realogy chief people officer. "Our talent
strategy, led by our new purpose and positioning, enables us to
engage employees anywhere in their career journey.
Additionally, with our remote-first, hybrid company approach, many
of our people can literally work from any place, offering employees
the benefits of productivity gains, flexibility, and choice."
The Anywhere naming and brand development was led by
multidisciplinary San
Francisco-based design studio, Hybrid Design. For more
information on the launch of the Anywhere brand, please visit
anywhere.re.
About Realogy Holdings Corp.
Realogy (NYSE: RLGY) is
moving the real estate industry to what's next. As the leading and
most integrated provider of U.S. residential real estate services
encompassing franchise, brokerage, relocation, and title and
settlement businesses as well as a mortgage joint venture, Realogy
supported approximately 1.5 million home transactions in 2021.
The company's diverse brand portfolio includes some of the most
recognized names in real estate: Better Homes and Gardens® Real
Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker
Commercial®, Corcoran®, ERA®, and Sotheby's International
Realty®. Using innovative technology, data and marketing products,
high-quality lead generation programs, and best-in-class learning
and support services, Realogy fuels the productivity of its
approximately 196,200 independent sales agents in the U.S. and
approximately 136,400 independent sales agents in 118 other
countries and territories, helping them build stronger businesses
and best serve today's consumers. Recognized for eleven consecutive
years as one of the World's Most Ethical Companies, Realogy has
also been designated a Great Place to Work four years in a row,
named one of LinkedIn's 2022 Top Companies in the U.S., and honored
on the Forbes list of World's Best Employers 2021.
Forward-Looking Statements.
Certain statements in this press release constitute
"forward-looking statements," including with respect to 2026
financial targets. Such targets incorporate projections,
assumptions and estimates of future performance that are inherently
subject to a high degree of uncertainty and risk. Targets and other
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Realogy Holdings Corp. to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Statements preceded by, followed by or that otherwise
include the words "target", "guidance", "believes", "expects",
"anticipates", "intends", "projects", "estimates", "potential" and
"plans" and similar expressions or future or conditional verbs such
as "will", "should", "would", "may" and "could" are generally
forward-looking in nature and not historical facts. Any statements
that refer to expectations or other characterizations of future
events, circumstances or results are forward-looking
statements.
The following include some, but not all, of the factors that
could affect our future results (including our ability to achieve
financial targets) and cause actual results to differ materially
from those expressed in the forward-looking statements: adverse
developments or the absence of sustained improvement in the U.S.
residential real estate markets, either regionally or nationally;
adverse developments or the absence of sustained improvement in
macroeconomic conditions; our ability to execute our business
strategy and achieve growth; our ability to realize the expected
benefits from our existing or future joint ventures or strategic
partnerships, in particular, our mortgage origination joint
venture; adverse impacts from the COVID-19 crisis; risks related to
our business structure, including our geographic and high-end
market concentration, the operating results of our affiliated
franchisees, and the loss of our largest real estate benefit
program; the impact of evolving competitive and consumer dynamics,
including that the Company's share of the commission income
generated by homesale transactions may continue to shift to benefit
affiliated independent sales agents; disruption in the residential
real estate brokerage industry related to listing aggregator market
power and concentration; risks related to our substantial
indebtedness and our ability to refinance or repay our
indebtedness; adverse developments or outcomes in current or future
litigation, in particular pending antitrust litigation; industry
structure changes that disrupt the functioning of the residential
real estate market; our failure or alleged failure to comply with
laws, regulations and regulatory interpretations and any changes or
stricter interpretations of any of the foregoing; and the accuracy
of market forecasts and estimates, including our internal
estimates.
Consideration should be given to the areas of risk described
above, as well as those risks set forth under the headings
"Forward-Looking Statements" and "Risk Factors" in our filings with
the Securities and Exchange Commission, including our Annual Report
on Form 10-K for the year ended December 31,
2021, our Quarterly Report on Form 10-Q for the three months
ended March 31, 2022 and our other
filings made from time to time, in connection with considering any
forward-looking statements that may be made by us and our
businesses generally.
Except as is required by law, we expressly disclaim any
obligation to publicly release any revisions to forward-looking
statements to reflect events after the date of this release. For
any forward-looking statement contained in this release, we claim
the protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of
1995.
Investor
Contacts:
|
Media Contacts:
|
|
|
Alicia Swift
|
Trey Sarten
|
(973)
407-4669
|
(973)
407-2162
|
alicia.swift@realogy.com
|
trey.sarten@realogy.com
|
|
|
Danielle
Kloeblen
|
Wyatt
Jefferies
|
(973)
407-2148
|
(973)
407-5742
|
danielle.kloeblen@realogy.com
|
wyatt.jeffereies@realogy.com
|
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SOURCE Realogy Holdings Corp.