Coldwell Banker Willis-Smith of New Bern is merging with the Coldwell Banker Advantage network, which includes Wilmington-based Coldwell Banker Sea Coast Advantage, according to an announcement Tuesday.
"The strategic move was designed to enhance the client experience and expand the geographic presence of the Coldwell Banker Advantage family of companies," a news release stated.
Coldwell Banker Sea Coast Advantage serves Wilmington and the surrounding areas, while the another Advantage network company -- Coldwell Banker Advantage -- serves Raleigh, Fayetteville and Southern Pines. Meanwhile, Coldwell Banker Chicora Advantage serves greater Myrtle Beach, South Carolina, the release stated.
“Coldwell Banker Willis-Smith is a hugely successful company with a great reputation and exceptional management. We look forward to building on this success,” said Tim Milam, president of Coldwell Banker Sea Coast Advantage, in the release.
The financial terms of the merger were not disclosed.
Stewart Smith, president of Coldwell Banker Willis-Smith, stated in the release, “This will build on our history of growth, creating substantial benefits for both our agents and our family of clients.”
Added Drake Bratton, vice president of Coldwell Banker Willis-Smith: “Our brokerages have a long, successful history of working together for the benefit of our mutual clients.”
Smith and Bratton will retain an ownership interest in Coldwell Banker Willis-Smith and continue in their current roles, the release stated. With the merger, new business partners will include Milam, Gary Rabon, president of Coldwell Banker Advantage in Raleigh, and Ralph Huff, president of Coldwell Banker Advantage in Fayetteville.
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