Other franchises may have similar growth strategies, but Realogy Corp. is making it official: the company is looking to "help its franchisees grow their businesses and increase their market share through mergers, acquisitions and agent walk-overs from other firms."
So far this year, Realogy Franchise Group has helped its independently owned franchisees complete 75 growth-related transactions across the U.S., the company said, providing both experience and funding for conversion costs and other related expenses.
"Brokers today seem to fall mainly into two camps — those who are looking for assistance in growing their market share and those who are looking for exit strategies," said Alex Perriello, president and CEO of the Realogy Franchise Group, in a statement. "Our experience has shown that the best options for growth usually occur in the local market where synergies already exist between competing firms."
The company was careful to note that Realogy’s brands act solely as franchisors and do not provide any financial advisory, brokerage, legal or accounting services with regard to franchisees’ growth-related transactions.
Parsippany, N.J.-based Realogy’s franchise systems have approximately 14,400 offices and 264,000 sales associates doing business in 99 countries around the world. The company’s brands include Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, The Corcoran Group, ERA, Sotheby’s International Realty, NRT LLC, Cartus and Title Resource Group.