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 |
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SOURCE Realogy Holdings Corp.
