1973
151
$50,000
$35,000
$520,500
No
Corcoran® is a distinguished name in luxury residential real estate, renowned for its white-glove service and innovative approach. Established in 1973 by Barbara Corcoran, the brand has evolved from a boutique New York City firm into a national powerhouse. Now, under the umbrella of Anywhere Real Estate Inc., Corcoran® is expanding its reach through a selective franchise model, offering entrepreneurs the chance to leverage a legacy of excellence in the real estate industry.
Proven Brand Legacy: With over five decades in the industry, Corcoran® has built a reputation for integrity, market expertise, and neighborhood fluency.
Comprehensive Support: Franchisees receive extensive training, marketing resources, and operational support to ensure success.
Scalable Business Model: The franchise offers flexibility, allowing for both single-unit and multi-unit ownership, catering to various investment capacities.
Strategic Growth Opportunities: As part of Anywhere Real Estate Inc., Corcoran® benefits from a vast network and industry-leading technology platforms.
Established Year:
Corcoran® was founded in 1973 by Barbara Corcoran, who started the company with a vision to redefine the residential real estate market in New York City. Beginning as a small boutique firm, the company quickly gained a reputation for personalized service and market expertise.
Founders and Brand Journey:
Barbara Corcoran is a well-known entrepreneur and investor. She built Corcoran® from a single office with a handful of agents into a major real estate powerhouse. Over the decades, Corcoran® expanded its portfolio to cover luxury, residential, and commercial properties, focusing on high-touch client experiences and market knowledge.
Franchise Units:
Corcoran® launched its franchise program in 2019, enabling entrepreneurs across the USA to operate under the Corcoran® brand. As of now, the brand has approximately 151 franchise units across key U.S. markets, including New York City, South Florida, and the Hamptons.
Ownership:
Today, Corcoran® operates under Anywhere Real Estate Inc., a leading parent company in the real estate brokerage industry. This association provides franchisees access to advanced technology, industry networks, and national marketing resources.
Market Presence:
Corcoran® is widely recognized in the luxury residential real estate market in the U.S. Its footprint includes high-value urban markets and resort areas, providing franchisees a brand with prestige and strong consumer recognition.
Industry Category:
The brand operates in the Real Estate Brokerage and Services sector, specializing in residential, luxury, and investment properties. It combines technology, marketing, and a client-focused approach to maintain a competitive edge in the market.
Key Highlights:
Over 50 years of market reputation
Known for luxury residential properties and personalized service
Strong presence in high-demand U.S. markets
Access to proprietary tools, listings, and networks for franchisees
Corcoran® ensures that every franchisee is fully equipped to succeed by offering a comprehensive, multi-level support system covering all stages of business operations.
Before opening a franchise, Corcoran® provides in-depth guidance to ensure a strong foundation:
Market Analysis & Site Selection: Assistance in selecting a location with the best potential for growth and profitability.
Business Setup Guidance: Help with legal paperwork, office setup, permits, and licensing required for real estate operations.
Initial Training Programs: In-person and virtual sessions to familiarize franchisees and their teams with Corcoran®’s systems, standards, and best practices.
Corcoran® delivers ongoing operational guidance to optimize daily activities:
Process & Workflow Training: Instruction on client management, transaction handling, and real estate compliance standards.
Staff Recruitment & Training: Assistance in hiring, onboarding, and training real estate agents and support staff.
Performance Monitoring: Tools and guidance to track key performance indicators (KPIs) and improve efficiency.
Franchisees benefit from the brand’s marketing expertise:
Marketing Materials: Access to professionally designed brochures, digital templates, and signage.
Digital Marketing Assistance: Guidance on social media campaigns, website management, email marketing, and SEO optimization.
Public Relations & Branding: National and local campaigns, press releases, and promotional strategies to enhance visibility.
Advertising Support: Recommendations for advertising budgets, local campaigns, and lead generation strategies.
Corcoran® equips franchisees with state-of-the-art tools to stay competitive:
CRM & Client Management Tools: Advanced platforms to track leads, manage client relationships, and streamline transactions.
Property Listing Services: Integration with national MLS (Multiple Listing Service) systems and proprietary property databases.
Analytics & Reporting Tools: Dashboards for financial tracking, sales performance, and market analytics.
Corcoran® emphasizes continuous learning and growth:
Workshops & Webinars: Regular sessions on market trends, sales techniques, and operational excellence.
Conferences & Networking: Opportunities to connect with other franchisees and industry leaders.
Mentorship & Advisory: Access to experienced mentors for strategic guidance and problem-solving.
Legal & Compliance Assistance: Guidance on local real estate regulations and risk management.
Franchise Advisory Support: Dedicated representatives to answer operational questions and provide business coaching.
Expansion Planning: Advice for multi-unit expansion, partnerships, and long-term growth strategies.
Corcoran® seeks franchisees who are driven, experienced, and passionate about real estate, with the ability to uphold the brand’s reputation for excellence. The ideal franchisee possesses a blend of business acumen, leadership skills, and community engagement.
Proactive & Ambitious: Franchisees should be self-starters who are motivated to grow their business and seize opportunities in the competitive real estate market.
Problem Solvers: Able to adapt to market fluctuations, handle client challenges, and innovate in business operations.
Investment Capability: Must have the financial resources to meet the total investment requirements, including franchise fees, office setup, and working capital.
Business Management Skills: Knowledge of budgeting, financial reporting, and profit optimization to ensure a sustainable and profitable operation.
Understanding of Real Estate Operations: Experience in property sales, leasing, or real estate brokerage is highly beneficial.
People Skills: Ability to recruit, train, and motivate a team of real estate agents and support staff.
Operational Oversight: Competence in managing day-to-day operations, ensuring smooth transactions and client satisfaction.
Mentorship Ability: Encourages a positive company culture, fosters professional development, and guides agents to success.
Client-Focused: Strong commitment to delivering exceptional customer service and maintaining high client satisfaction.
Community Engagement: Active participation in the local community to build trust, networks, and brand loyalty.
Strategic Mindset: Ability to identify high-potential markets and adapt strategies to local trends.
Geographic Focus: Ideally located in high-demand urban, suburban, or resort markets where luxury and residential real estate demand is strong.
Integrity & Professionalism: Upholds ethical standards consistent with Corcoran®’s reputation.
Resilience & Patience: Prepared for long-term growth and able to navigate market challenges.
Passion for Real Estate: Genuine interest in property markets, design, and client advisory services.
Summary:
The ideal Corcoran® franchisee is an entrepreneurial leader with financial capability, real estate experience or strong business acumen, excellent people skills, and a passion for providing outstanding client service. They are ready to leverage the Corcoran® brand’s prestige to grow a successful, sustainable real estate business in their local market.
| Financial Component | Details / Range (USD) |
|---|---|
| Initial Franchise Fee | $35,000 |
| Total Investment Required | $134,350 – $520,500 (depending on location, office size, and market) |
| Minimum Cash Required | $50,000 – $100,000 |
| Royalty Fee | 6% of gross revenue |
| Brand Fund Contribution | 0.5% – 1% of gross revenue |
| Marketing Budget | Recommended 2% – 5% of annual revenue for local marketing campaigns |
| Infrastructure / Office Setup | $50,000 – $200,000 (includes furniture, technology, signage, and office renovation) |
| Working Capital Requirement | $20,000 – $50,000 for operating expenses and initial payroll |
| Expected ROI | 15% – 25% annually (varies by market conditions, size, and operational efficiency) |
| Break-even Time | Typically 2 – 3 years |
| Revenue Streams | - Commission from property sales - Rental and leasing income - Property management services - Ancillary real estate services (consulting, staging, etc.) |
