Century 21 Real Estate CEO Rick Davidson to Return to His Entrepreneurial Roots and Become a C21 Franchisee

Madison, N.J. 03-27-2017 — Century 21 Real Estate LLC, franchisor of the iconic CENTURY 21® brand, announced today that Rick Davidson will be transitioning from his role as President and CEO on April 21 to return to his entrepreneurial roots in real estate brokerage. Davidson will pursue his passion within the CENTURY 21 System as a principal and president of the Everest Group, operator of CENTURY 21 Everest-Troop Real Estate, a Salt Lake City-based firm with 17 offices in Utah and California. CENTURY 21 Everest-Troop ranks among the top five C21® franchise affiliates worldwide.

"We thank Rick Davidson for his 11 years of outstanding leadership and service at Realogy, the last seven of which have enabled CENTURY 21 to become a far stronger and healthier franchise network today than ever before," said John Peyton, president and chief operating officer of the Realogy Franchise Group, the parent company of the CENTURY 21 System. "We are delighted that he will remain affiliated with the franchise system as he moves forward with this next stage of his career. There is no better validation for the C21® System than to have a leader of Rick's caliber choose to affiliate with the franchise."

Peyton continued, "In the interim, CENTURY 21 remains in extremely good hands with its existing senior leadership team, and the day-to-day operations of the brand will continue to be managed by Chief Operating Officer Greg Sexton. We are moving expediently, yet deliberately, to conduct a thorough search and evaluate candidates for the CEO position."

During the past seven years, Davidson and his leadership team are credited with reinvigorating the CENTURY 21 System, putting in place a comprehensive plan to create excitement about the brand throughout the industry, drive brand pride, foster loyalty within the system and drive growth. The momentum behind CENTURY 21 today is powerful, as evidenced by the brand's unprecedented sweep of the annual J.D. Power Home Buyer/Seller Satisfaction StudySM, in which it earned "Highest Overall Satisfaction for First-Time Home Sellers, First-Time Home Buyers, Repeat Home Sellers, and Repeat Home Buyers (Tied in 2016) among National Full Service Real Estate Firms in each of the past three years.

The satisfaction level of CENTURY 21 affiliates has increased in every category since 2010. Last year was the best year for franchise sales that C21 has experienced in the past decade. In addition, the brand's marketing campaign continues to evolve while promoting the expertise of its System members and reinforcing the brand's positive momentum.

"I am deeply proud of the growth and market positioning we have been able to accomplish together as a team at CENTURY 21," said Davidson. "I cherish the relationships I have built through the years, and I am excited to become a principal of a leading franchise affiliate brokerage firm within the C21 System. This is the start of an exciting new chapter for my career, and my decision to remain affiliated with the CENTURY 21 brand should speak volumes about where my heart is. In my return to real estate brokerage, I wanted CENTURY 21 and the Realogy Franchise Group to remain my home."

About Century 21 Real Estate LLC
Century 21 Real Estate LLC is comprised of approximately 7,330 independently owned and operated franchised broker offices in 77 countries and territories worldwide with more than 110,000 independent sales professionals. Century 21 Real Estate has numerous websites to help answer specific consumer needs. Century 21 Real Estate LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.