NRT LLC is the nation's largest residential real estate brokerage company. It is a subsidiary of Realogy Corporation. NRT's commercial operations rank as the twelfth largest corporate-owned commercial real estate brokerage in the country. Its headquarters are located in Parsippany, New Jersey.
In 1996, Cendant, which was known as HFS Incorporated at the time, formed a National Realty Trust when the company purchased Coldwell Banker Corporation in order to purely remain a franchisor. The initial purpose of the National Realty Trust was to own the nearly 400 brokerage offices that had been acquired in the Coldwell Banker purchase. It was also responsible for continuing to acquire offices and renaming the new companies with one of Cendant's brand names (Coldwell Banker, ERA and Century 21).
It was in August 1997 that Cendant and Apollo Management formed the company that stands today; NRT LLC. The joint venture operation was established because they desired more acquisition growth than a trust could handle. Subsequently, major acquisitions were made in 1997 in both Northern and Southern California as well as expansion in Cincinnati.