Franchising the two, Realogy said, will help expand its portfolio of brand offerings to its clients. Both Corcoran and Climb plan to begin selling franchise agreements in 2019.
Corcoran, based in New York City, plans to target franchise opportunities in global megacities and leisure markets in the U.S. and globally. Climb, based in San Francisco, plans to bring to the market a mobile-first model.
“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,” Ryan Schneider, Realogy CEO and president, said. “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.”
Corcoran and Climb will join Realogy’s franchise brand portfolio, which includes Better Homes and Gardens Real Estate, CENTURY 21, Coldwell Banker and Coldwell Banker Commercial, ERA, and Sotheby’s International Realty.
“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,” John Peyton, CEO and president, Realogy Franchise Group, said. “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.”