Plaza Becomes Coldwell Banker Franchisee

Bizjournals.com:

Longtime independent real estate firm Plaza Real Estate Inc. will take up the Coldwell Banker flag starting Wednesday.

Plaza will take over the brand in the Wichita market from Stucky & Associates Realtors, which is giving it up in part because of the cost of the annual franchise fees during the down economy.

Stucky CEO Frank Stucky, however, says another announcement about the future of his Newton-based company is coming in the next several days. He wouldn’t discuss details.

“The real story will be coming up yet, when we make an announcement about our future,” he says.

Plaza Real Estate, Wichita’s third largest for market share, had looked at franchising for several years, says its owner and CEO, John McKenzie.

“Trying to find the right fit with the right programs, products and electronic services was a daunting task. Since the Coldwell Banker franchise was already taken, the opportunity was not there,” McKenzie said in an e-mail message to the WBJ.

He says the Coldwell Banker brand “ensures our company’s position for the future as a leader in innovative technologies and marketing tools that as an independent was terribly difficult to reproduce. Independents struggle with this every day.”

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