(NEW YORK, NY) — “As the world has gotten smaller, we want to get bigger,” said Corcoran CEO Pam Liebman.
Realogy, the largest real estate holding company in the country, has announced plans to franchise its Corcoran and Climb brokerages next year.
The brokerages will join the long list of Realogy’s franchises which include Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, ERA Real Estate, and Sotheby’s International Realty.
The Corcoran Group began in Manhattan in 1973 with just 30 agents. Today, the company has expanded to 33 offices with 2,300 agents and is one of New York City’s top residential brokerages with $21 billion in annual sales.
Around 80 percent of the U.S. market still remains untouched, according to Realogy CEO, Ryan Schneider. The plan is to expand Corcoran to “global megacities” and leisure markets, both in the U.S. and internationally.
According to Liebman, the company has their eyes set on some West Coast markets as well as cities in Asia, Europe, and South America. The company is wasting no time with expansion plans and is already searching for office space in Miami.
More Brands, More Choice: Realogy to franchise @corcorangroup and @ClimbRealEstate in 2019, expanding and diversifying brand offerings for brokers, agents, and consumers https://t.co/lzfdN4idEC #franchise #realestate pic.twitter.com/cAY2Oe8zy2
— Realogy (@Realogy) October 24, 2018
As for Climb, the San Fransisco based brokerage, expansion plans will focus on a mobile-first approach, appealing to brokers, agents, and consumers looking for a more flexible real estate experience.
The plan to add on two new franchises is part of Realogy’s organic growth strategy.
“There’s so much opportunity out there to grow our business,” Said Schneider. “We’re excited to drive growth in these brands on the franchise side.”