Wednesday, September 17, 2008

Investing: Coldwell Banker Legacy

Full disclosure to start: I write a newsletter for Coldwell Banker Legacy, metro Albuquerque's (and presumably New Mexico's) leading, by sales, residential real estate firm.
At the company level CBL has a tendency to not toot their own horn, something I've fussed about a bit with them. The tendency makes sense overall. The business is about brokers and sales associates, and buyers and sellers. The corporate part stays in the background, tending the brand and steering the ship.
All that said, here's a kudo for the corporate. On October 1, CBL is unveiling an amazing new Web site, built around Google mapping technology and with information on each of the nearly 15,000 homes listed for sale in the metro.
The kudo is this: Today is a tough time to be in the residential real estate business. Metro sales of existing homes are running something like half of the peak in July 2006. A good many firms will be pulling in their horns. Coldwell is going the other way and making a big investment in the future. Good for them.

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