Coldwell Banker to expand relocation company

March 12, 1992|By Ellen James Martin | Ellen James Martin,Staff Writer

In a move that will intensify its competition with PHH Corp. of Hunt Valley, Coldwell Banker is restructuring its corporate-relocation company and renaming it "Relocation 1."

Coldwell Banker, which is seeking to dethrone PHH as the market leader in corporate relocation, is restructuring the operation to provide a broader range of services to people transferred by their companies, said Richard Purvis, president of the Coldwell Banker Baltimore/Washington region.

In the past, Coldwell Banker emphasized assistance to corporate employees by helping them sell their homes.

After the restructuring, employees also will receive a broad range of services in the city to which they are headed. Those would include anything from finding the right home to finding day care, Mr. Purvis said.

Coldwell Banker, part of the Sears Roebuck financial-services network, operates one of the nation's largest retail realty chains. Mr. Purvis said Relocation 1 will use that network of agents to provide assistance to transferred employees.

Relocation 1, formerly known as Coldwell Banker Relocation Management, is gaining ground on PHH and that it acquired two major corporate clients, International Business Machines Corp. and General Electric Co., last year.

Officials of PHH, whose corporate-relocation company is known as Home Equity, could not be reached for comment yesterday.

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