Coldwell Banker acquires Lambert & Lambert

CUMBERLAND – Coldwell Banker Residential Brokerage announced last week that it acquired Lambert & Lambert Associates Inc.
Coldwell Banker said it would move staff from its office at 1764 Mendon Road into the Lambert & Lambert office at 1985 Mendon Road. Ernest Lambert, president and owner of Lambert & Lambert, will join Coldwell Banker in a sales role. The terms were not disclosed.
Lambert, 70, said he decided to sell to Coldwell Banker to lessen the day-to-day administrative tasks associated with owning a real estate firm.
“This was one way to take that burden off,” he told Providence Business News. “It’s just timing. I’m not going to retire because I don’t have a new hobby.”
Founded in 1977, the company employs 18 people, virtually all of which Lambert expects to join Coldwell Banker.
“We are pleased to welcome this respected group of real estate professionals to the Coldwell Banker Residential Brokerage team,” said Rick Loughlin, president of Coldwell Banker in New England. “Their reputation for providing exceptional customer service is highly regarded in the marketplace, and we look forward to a bright future together.”
Lambert said the firm’s name would at first be Lambert & Lambert Coldwell Banker. Over time, the company will drop the Lambert & Lambert from its name.