Coldwell Banker has announced 10 brokerages have joined the brand as part of its Inclusive Ownership Program.
Two of the brokerages are in Florida, including Coldwell Banker Hometown Real Estate in Lake Worth, owned by Nancy Uhlman and Coldwell Banker Picket Fences Realty in Land O’Lakes, owned by Booker Pickett.
This industry-first franchise approach, first announced in February, was created as a way to increase representation of minority, women, LGBTQ and veteran entrepreneurs in the real estate industry.
As part of the program, each new brokerage that affiliates with the Coldwell Banker brand will not pay an initial franchise fee and will receive financial incentives to support diverse business owners in the critical first two years of business. Benefits include up to $100,000 of funding, royalty fee rebates, education, and mentorship. Owners will also receive membership and conference registration for an industry partner group of choice, such as the National Association of Real Estate Brokers, the National Association of Hispanic Real Estate Professionals, the Asian Real Estate Association of America, and the LGBTQ+ Real Estate Alliance.
“I am extremely proud to welcome these 10 new brokerages to the Coldwell Banker brand,” said Coldwell Banker CEO M. Ryan Gorman in a press release. “I am confident Coldwell Banker will be the place where these businesses find long-term growth and success. I also believe adding this group and future Inclusive Ownership firms will enhance Coldwell Banker’s long-term performance, as we benefit from diverse perspectives. Personally, I have found our newly established mentorship program to be mutually beneficial as we learn just as much from our newest affiliated leaders as they do from our executive leadership team. It is our goal as a brand to serve communities and professionals who have been traditionally underrepresented as property and business owners to build a culture of inclusion and equity, and ultimately build wealth for diverse communities and promote home ownership for all.”
Many of the newly affiliated owners come to the Coldwell Banker brand with decades of real estate experience and expertise in their markets. Some served their communities as independent brokerages and are now joining the Coldwell Banker brand while others made the leap to broker-ownership for the first time. These owners represent a diverse group of women, Asian-American, African American, Hispanic, and veteran entrepreneurs. They serve a wide array of communities, from cities to small towns and represent almost every geographic region of the continental United States.
“When I found out I was the first Black owner to be part of the Inclusive Ownership program, my first thought was, ‘let’s change that,’” said Pickett in the press rlease. “I’m excited and willing to do whatever it takes to bring more Black broker-owners to the brand, because the real estate industry is long overdue for a change. Initiatives like Coldwell Banker’s Inclusive Ownership program are one important step in getting more Black real estate professionals into ownership. I’m proud to be part of a company that prioritizes home ownership and wealth generation for all people, especially those who have historically been left out of those opportunities.”