Climb Real Estate Acquired by NRT
SAN FRANCISCO and MADISON, New Jersey, August 31, 2016
Innovative boutique brokerage to retain branding and expand reach as part of nation’s largest residential real estate company
NRT LLC, the nation’s largest residential real estate brokerage company and a subsidiary of global real estate leader Realogy Holdings Corp. (NYSE: RLGY), today announced it has acquired Climb Real Estate in San Francisco. Climb Real Estate is known for its distinctively innovative brand and business model that reinvents the traditional home buying and selling experiences. The company ranks among San Francisco’s top 10 residential real estate brokerages based on transaction sides and sales volume in 2015, according to the San Francisco Association of Realtors MLS. Climb will retain its unique branding in the marketplace and continue to operate under the current leadership of Chris Lim, president.
Climb Real Estate presentation:
– Over $3 billion in sales volume since its inception in 2010
– 100 affiliated agents in a uniquely collaborative, open work environment
– 5 offices in Potrero Hill, Noe Valley, Mission Bay, Mid-Market and Oakland’s Jack London Square
– 1 Climb Airstream mobile real estate office that brings agents into Bay Area communities
– 12 languages spoken by agents, reflecting the diversity of the Bay Area markets they serve
Climb Real Estate has reinvented the full-service residential real estate brokerage model through a complete digital experience for consumers, including an extensive mobile-friendly website, the power of social media, and an innovative mobile connection with agents that streamlines the buying and selling processes. Agents also connect face-to-face with clients in their neighborhoods via the Climb Airstream, a one-of-a-kind mobile real estate office that takes Climb agents into their communities in a sleek, stainless steel storefront trailer. The Climb Airstream is often seen at open houses, new development openings, community events and street fairs.
“The most strategic way to accelerate the expansion of our company is to be aligned with the nation’s leading residential real estate brokerage. Its strong market presence inspired us to become part of the NRT family. Most importantly, NRT is willing to allow Climb to continue operating and growing in our own special way that works for affiliated agents, buyers, and sellers in urban markets on the West Coast.” – Chris Lim, president, Climb Real Estate
“Innovation is at the core of Climb’s approach to business, whether it is their open office concept, collaborative culture, mobile office, or their leveraging of the latest technology, and we are very drawn to their culture of innovation and eager to gain new insights from their approach to business. For NRT, this adds a unique boutique agency serving diverse consumer segments in the heart of the innovation mecca of San Francisco. We are excited by the broader application of this forward-thinking business model.” – Bruce Zipf, president and chief executive officer, NRT LLC
About NRT LLC
NRT LLC is the nation’s largest residential real estate brokerage firm. NRT owns and operates companies in approximately 50 of the 100 largest metropolitan areas in the United States, with approximately 780 offices and approximately 46,800 independent sales associates. NRT is the subsidiary of Realogy (NYSE: RLGY) that operates all company-owned real estate brokerage offices under the brand names of Coldwell Banker®, Coldwell Banker Commercial®, Sotheby’s International Realty®, and ZipRealty®, as well as powerful regional and local brands, The Corcoran Group®, Citi Habitats and Climb Real Estate.