Blog Real Estate | NEWS | United States
The Corcoran Group - Luxury International Real Estate Brand is Using Franchising To Expand Globally
- 28th Apr 2021
In some very important news from the American luxury real estate market, Corcoran luxury real estate is trying to expand its footprint in a big way through franchising. This could indeed be very exciting times for luxury real estate in United States and globally too.
Origins of Corcoran real estate
Barbara Corcoran founded Corcoran real estate almost 5 decades ago way back in the year 1973. Initially the real estate brokerage firm was active in New York City, the Hamptons, and South Florida. With its meticulous and professional real estate service, Corcoran luxury real estate created a very strong goodwill for itself across all locations in United States that it offered its services. As of this date, Corcoran real estate is a part of the Realogy group of real estate companies. Realogy Holdings Corp. (NYSE: RLGY) happens to be the foremost integrated provider of American residential real estate services, that includes almost all stake holders from the real estate ecosystem including franchise, brokerage, and title and settlement businesses as well as a mortgage joint venture. Find more about Realogy Holdings Corp.
Corcoran & Franchising
Barbara Corcoran passed on the responsibility of Corcoran real estate to Pamela Liebman almost 19 years ago in the year 2002 making Pamela the President & CEO. As of today in 2021, Pamela Leibman remains at the top of Corcoran real estate and leading from the front for one of the most exciting luxury real estate companies in the world.
Corcoran is franchising its luxury real estate brand across the world in the form of affiliations. Each Corcoran franchise is an affiliate and up to the year 2020 the Corcoran luxury real estate brand has expanded into 21 new real estate markets creating eleven affiliates from Hawaii to New York’s Hudson Valley and Westchester to California, Arizona, Nevada, Colorado, and Corcoran BVI (British Virgin Islands), Florida and New Jersey. This is indeed a very healthy growth for the premium luxury property service provider from United States.
As per Stephanie Anton who is the senior vice president of Corcoran Franchise there is a lot of value that the Corcoran real estate way of working brings to the table for the extremely competitive luxury real estate market. The broad luxury property price range that Corcoran operates in from even a USD 400,000 property to a USD 5 million home is surely a big difference. This particular level of flexibility is something that most of the other luxury real estate service providers do not offer currently.
Many of the affiliates of Corcoran are definitely happy to be part of the 5 decades old luxury real estate brand.
Hilary Farnum-Fasth, Broker Owner, Corcoran Reverie having almost 100 real estate agents in Northwest Florida is one such example. Hilary is absolutely thrilled and empowered by the complete package that Corcoran luxury real estate offers including that fact they can retain their local flavor identity while offering global service. Hilary also expressed that Corcoran's quality of client service is amazing and factors like its robust relations with local communities, strong dedication to their agents and staff, and the range of real estate business tools that they offer is great.
Another affiliate who happens to be Anton Steenman president & CEO, Corcoran Pacific Properties of Hawaii with a team of around 200 agents also confirms to the exemplary level of service and planning that Corcoran luxury real estate brings to the table.
Similarly Michael Mahon, president & CEO, Corcoran Global Living with offices in California and Nevada and more than 1700 associates, who is also an affiliate reaffirms the salient features of Corcoran luxury real estate especially its strong global vision.
New age luxury real estate education
The fact that Corcoran real estate focusses on imparting real estate education to its affiliates using its Virtual Learning program vide its Agent Studio has been a major factor in attracting the right affiliates. Apparently this program had more than One Thousand training sessions with over 30,000 actual and affiliate agents attending virtually in the past year.
Corcoran's strong vision and new age initiatives for the luxury rea estate market globally will surely help it cover more ground in the coming years.