Last week, agents for Coldwell Banker’s the Condo Store received an email from their founder and president, David Tufts, telling them that the Company, which has grown rapidly in Florida since 2005, would be downsizing in 2007, and a reduction in force could follow.

This morning, they received an email from Jim Schmidt, a Senior Vice President for NRT telling them that the person who sent that email would also be leaving the company, along with the Executive Vice President Betty Harbourt. The Company email stated:

“David Tufts and Betty Harbourt have resigned from Coldwell Banker The Condo Store to pursue other opportunities. While changes in top leadership are always noteworthy, this is common in today’s marketplace and we are excited about the opportunity to continue the strong sales momentum of the last two record-breaking years and our national expansion. The Condo Store wishes David and Betty well in their new endeavors.

Brad Horner will be the new President and Leslie Williamson the new Executive Vice President continuing the leadership of Coldwell Banker The Condo Store. The company will continue to be run by the team who has been responsible for day-to-day operations for several years. Over the next 48 hours, senior management will be contacting each of our developer clients to assure them that The Condo Store will continue to provide superior sales and marketing support to their projects.

Each and every one of our 380 agents and 200 employees contributes to the outstanding success of The Condo Store every day. We are confident that the professionalism of our sales agents, marketing specialists and employees will continue to shine. We recognize that you are our most important business asset.  Rest assured that you will continue to be supported by the leadership of Coldwell Banker The Condo Store.

Coldwell Banker The Condo Store is currently marketing more than 90 properties representing over 22,000 units throughout the U.S. Our unwavering commitment to developers will continue to go above and beyond to offer ongoing sales and marketing support that is vital to the success of these properties. With your help, 2007 is on target to be our most successful year in the company’s history!

If you have any questions or concerns about these recent changes within the organization, please do not hesitate to contact your manager or director.  We thank you all for your dedication and continued support.”