Realogy announced today it will be expanding its portfolio of brand offerings, franchising Corcoran® and Climb Real Estate® for the first time and selling agreements as early as 2019. The Realogy portfolio currently includes Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker® and Coldwell Banker Commercial®, ERA®, and Sotheby’s International Realty®.
“Realogy serves more aspects of the real estate transaction than any other entity with an incredible legacy of shepherding and growing some of the most well-known and respected brands in the industry,” said Ryan Schneider, Realogy CEO and president. “The decision to add two new franchise options to our portfolio is critical to Realogy’s long-term organic growth strategy, and we believe demand for Corcoran and Climb will help us unlock additional franchisee opportunities, drive productive agent recruitment and, ultimately, capture more share of the market.”
“We believe in the power of our brands, and from extraordinary estates to starter homes, each brand offers a distinct personality, history and expertise, all fueled by Realogy’s leading technology, data and partnerships,” said John Peyton, president and CEO of Realogy Franchise Group. “With the addition of Corcoran and Climb, we have identified two areas within our existing franchise portfolio where we can address unmet demand from brokers, agents and consumers in two very different and compelling ways.”
The Corcoran Group® was launched in New York City in 1973 with 30 agents. Since then, over 2,300 have joined the brokerage’s 33 offices, which serve both domestic and international clientele. Corcoran plans to open franchise opportunities on a global scale in the sought-after leisure markets.
“At Corcoran, clients have the advantage of being at the center of every transaction. We work closely with clients to find them the home and community where they can truly live who they are,” said Pamela Liebman, president and CEO of the Corcoran Group. “Corcoran’s personal approach, unmatched experience, and success in marketing and selling every type of residential property and new development project has created demand for us to move into new markets, near and far. With the power of the Corcoran brand, combined with the resources and support of Realogy, the time to expand Corcoran’s presence on a global level is now.”
Climb Real Estate®, a San Francisco-based company founded in 2010, was acquired by Realogy in 2016, growing to 200+ agents with offices across San Francisco, San Jose and Oakland, Calif. Climb is targeting urban markets, opening up franchise opportunities that prioritize a mobile-first model, ideal for industry professionals and consumers who prefer a more flexible real estate experience—a new type of offering for Realogy.
“As a consumer, I saw an opportunity to improve the client experience, so I became an agent, and, as an agent, I felt there was room for a new kind of model that would bring mobility and flexibility to the transaction, so I founded Climb,” said Chris Lim, founder of Climb Real Estate. “Both Realogy and I share a vision to bring Climb’s freedom to choose to new U.S. markets where the Connected Generation is demanding a different approach as they enter their prime real estate years.”
For more information, visit www.realogy.com.