NEW YORK, Feb. 5, 2020 /PRNewswire/ — The Corcoran Group, a Realogy (NYSE: RLGY) brand and leading real estate brokerage operating in the highly competitive markets of New York City, Miami, the Hamptons, New York, and Palm Beach, Florida, today announced its first-ever franchise affiliate, Corcoran Global Living. Bringing Corcoran's "Live Who You Are" philosophy to the West Coast for the first time, the new company combines two prestigious independent brokerages, Zephyr Real Estate, the number one independent real estate firm in San Francisco, and the exceptional Oliver Luxury Real Estate, serving the Lake Tahoe market as well as Reno, Nevada. Corcoran Global Living includes a total of 450 expert real estate agents across 13 offices with annual combined sales of more than $2.6 billion.
"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," said Pamela Liebman, Corcoran's President and CEO. "The launch of Corcoran Global Living is a huge first step in our franchise ambitions, combining two leading firms to form one powerhouse company. Leveraging the extensive local expertise of Corcoran Global Living's 450 agents across these iconic urban and resort markets, along with the strong recognition of the Corcoran brand and the unmatched resources of Realogy, 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."
The first Corcoran franchise affiliate is being led by the Global Living firm founder and CEO Michael Mahon, an international real estate strategist and broker known throughout the industry for award winning results in cultural development and production growth.
"We're building something unique with Corcoran Global Living," said Mahon, who formerly held top executive positions as President of the independent brokerages of HER Realtors of the Midwest, and First Team Real Estate of Southern California. "Today's announcement of the inception of Corcoran Global Living sets forth our foundation of uniting independent brokerages and top performing sales associates across many of the most desired communities throughout the Western United States. With access to private equity funding in excess of nine digits, Corcoran Global Living is committed to investing in like-minded professionals uniting as one in brand, action, and support in the development of opportunities throughout the communities we call home", states Mahon. "Our culture is infectious, as our people make the difference, and we feel there is no more important investment in our growth with the goal of creating the #1 independent brokerage of choice across the Western United States, than our continued investment in our people."
"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, President and CEO of Realogy Franchise Group. "The Corcoran brand has found a great franchise launch partner in Michael and his vision for Corcoran Global Living, and I am excited for the further success this alignment will bring to the brand, the brokerage and ultimately, its affiliated agents."
The Corcoran Group
The Corcoran Group, a leading residential real estate brokerage, operates 50 offices and franchisees with 3,250 sales associates serving Manhattan, Brooklyn, and Queens; the Hamptons, the North Fork of Long Island, and Shelter Island, NY; Bal Harbour/Surfside, Delray Beach, Miami Beach, Palm Beach, and West Palm Beach, FL, San Francisco, CA, and Lake Tahoe and Reno, NV. The Corcoran Group is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY) a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. For more information about The Corcoran Group, please visit www.corcoran.com.
SOURCE The Corcoran Group