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Since then, Joyce Cornell, who already owned the residential real estate franchise for Coldwell Banker, has become the Coldwell Banker Commercial franchisee. Arora feels slighted, and is girding for a battle against Coldwell Banker Commercial for what she sees as breaking of their agreement.
Arora, the broker/owner of ERA One Source Realty, said she wanted to further develop her commercial real estate business by buying into a well-known brand such as Coldwell Banker. She talked to officials from the company and later reached a deal, she said.
Proving $500,000 of gross commission income from commercial sales, paying a $20,000 fee, and purchasing a building in Scranton to house it, she said, earned her the franchise. Two of Arora’s commercial agents attended a conference in Las Vegas where the expanding Coldwell Banker franchise used them as poster boys.
Arora acquired the former Vince’s Dress Shop on Mulberry Street in Scranton. She hit delays, however, because of costs and the scope of the project. That delay, she said, became Coldwell Banker’s basis to yank the franchise.
Cornell was ready to take it.
“Joyce wasn’t happy and she made noises and filed a complaint,” Arora said. “We are finding out what happened and I don’t know yet who sold me out or who goofed up, but Coldwell Banker will correct this because what happened to me is not the norm.”
When asked about Arora’s specific allegations, Cornell declined comment.
“I don’t think she would be privy to my conversations just as I am not privy to hers,” Cornell said.
As Coldwell Banker Town & Country, Cornell’s office has always listed commercial properties. She said opening the commercial division was a natural progression.
She purchased the franchise in October. While Cornell said she was aware that Arora was pursuing a Coldwell Banker Commercial franchise, she said the franchise was never held by anyone. Coldwell Banker Commercial, she said, contacted her to tell her the franchise was available.
Coldwell Banker Commercial spokesman Tom Nolan declined comment on the spat between the two brokers, noting that the company does not comment on the activities of its franchisees. However, he said the company prefers firms that are exclusively commercial, rather than those that are residential and commercial.
Arora, meanwhile, is reviewing her options.
“I still have a contract with them, and as to my last understanding I have the ability to enforce it,” she said.
dfalchek@timesshamrock.com
