Realogy roars: Corcoran and Climb to franchise in 2019
In a double-barreled play to leverage brand identity and work culture, the new Corcoran and Climb franchises will target franchise opportunities in global metropolises and leisure destinations, senior executives for both companies told Inman. Realogy, the parent company, plans to begin selling franchise agreements early next year.
Executives declined to disclose franchise fees associated with owning one of the new franchises. Realogy has not filed franchise disclosure documents yet.
A lot of people have questioned the future of the traditional franchise model in real estate. Hell, venture capitalists are throwing over a billion dollars in to fundamentally changing how real estate is practiced.
That’s why this move by Realogy is so interesting to me. It seems to be a poke in the eye to venture capitalists and the companies they funded looking to poach, replace, or even eliminate agents all together. Realogy’s play is nothing fancy, just straight up “brand and culture”.
This move by Ryan Schneider, Realogy’s new CEO, might seem counter intuitive to some, but to me its him taking a stand (for his company and maybe even the industry), seeming to say. “You want these agents? Come and get them.”
