The Corcoran Group, the real estate brokerage started by “Shark Tank” star Barbara Corcoran in the 1970s with $1,000 she borrowed from her boyfriend, is now a franchise.
Corcoran, a Realogy brand with offices in New York, the Hamptons, Miami and Palm Beach, said it’s now doing business on the West Coast after it opened its first-ever franchise affiliate, Corcoran Global Living.
The new franchise combines Zephyr Real Estate, an independent brokerage in San Francisco, and Oliver Luxury Real Estate, which has offices in Reno, Nevada, and Tahoe City, California.
More offices are planned, said Corcoran CEO Pam Liebman.
“With our deep experience in high-end, competitive East Coast markets, it is a natural move for Corcoran to head west with our first franchise affiliate,” Liebman said. “The launch of Corcoran Global Living is a huge first step in our franchise ambitions, combining two leading firms to form one powerhouse company.”
The new franchise provides agents with all the Realogy-backed high-tech tools, like the company’s new “productivity hub” that includes customer relationship management tools such as an app that helps agents communicate with customers.
“This new partnership will enable agents to dramatically boost their visibility from coast-to-coast and tap into Corcoran’s high-impact tools, training and marketing to help their clients find the home and community where they can truly live who they are,” Liebman said.
Realogy, the largest owner of real estate brokerages through its affiliate, NRT, is the parent company of Corcoran as well as Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA, Sotheby’s International Realty, and more.
“As the industry continues to transform, the power of a well-established brand, such as Corcoran, with its significant scale, agent resources, consumer awareness and technology offerings, will be critical to the future potential of agents and brokers in any given market,” said John Peyton, CEO of Realogy Franchise Group.