GlobeSt.com EXCLUSIVE: Jerry Anderson Out as Coldwell Banker Commercial President

In an E-mail sent to franchisees over the past weekend and shared with GlobeSt., Anderson cited "fundamental philosophical issues" for his abrupt departure from the Cendant Corp. subsidiary. Expanding on that, "Cendant is a wonderful company that has a lot of great brands, but when you really look at the real estate division, it's a residential group," he tells GlobeSt.com. "The fundamental philosophical issue that kept cropping up was the growth of a commercial brand within that environment."

Cendant's three residential brands, of course, include Coldwell Banker, ERA and Century 21. In his position as president of Coldwell Banker Commercial, Anderson reported to Richard A. Smith, chairman/CEO of Cendant's Coldwell Banker Real Estate Corp., who oversees both the residential and commercial sides. The company has not responded to several requests for comment on the firing.

Anderson joined Coldwell Banker Commercial as SVP in 1998 and was elevated to president the following year. During his five-year effort to rekindle the commercial brand, the company grew into one that did more than $10 billion in transactions by almost 3,200 agents in 325 markets last year. In an exclusive interview with GlobeSt.com last month, Anderson outlined in detail his plans to further grow the brand nationally.

In that earlier interview, Anderson said he thought the synergy between the residential and commercial sides was good. "In the wake of what's happened, I guess that wasn't the case," he admits. "What does Coldwell Banker Commercial represent, as a brand? The stand I took was one of purity, not one of crossing back and forth. And, of course, we were in a residential environment.

"Based on the E-mails I've been getting, the affiliates are very supportive of me," Anderson continues. "I stand on principal on the way things should be done and what this brand should be."

"This thing has caused quite a stir [among franchisees and affiliates]," Nick Nicholson of Jacksonville, FL-based Coldwell Banker Commercial Nicholson Williams Realty tells GlobeSt.com. "The reaction is, he's going to he missed tremendously. I'm not sure you can replace a guy like Jerry Anderson. I have tremendous respect for him, and his absence is going to create a huge void. I consider it a huge loss."

Further muddying the waters is the departure of another top Coldwell Banker Commercial exec. According to a source who did not wish to be identified, vice president Mark Polon resigned late last week for unrelated reasons. Polon is relocating to Florida, according to the source, and his loss is expected to create further turmoil in the company's top ranks.

As to his immediate plans, "I'm going to take a deep breath, get my arms around what just took place and look at other opportunities within the industry," Anderson says. "I have had job offers while I've been here and will probably try to rekindle those relationships."