Century 21 Commonwealth, an independently owned and operated brokerage with 500 agents across 22 offices in the greater Boston market has shed its ties to Century 21 to join Berkshire Hathaway HomeServices, it was announced Friday.
Under the Century 21 banner, Commonwealth developed a team of 500 agents while also netting recognition among the top 10 Century 21 brokerages globally. The franchisee hopes to double its sales volume to nearly $3 billion and expand across the city, according to a report in The Boston Business Journal on Friday.
The full-service brokerage will remain independently owned and operated.
Despite his brokerage’s success with Century 21, Commonwealth founding partner George Patsio said more growth was attainable with Berkshire Hathaway HomeServices through the company’s Global Network Platform, which offers lead generation tools along with marketing, social media, video production and distribution support.
“We considered different real estate networks as part of our research and decided Berkshire Hathaway HomeServices offered what we need to help our brokerage expand and reach new levels of production and service,” said Patsio in a statement. “After meeting the entire support team at Berkshire Hathaway HomeServices, we are even more confident in our decision and excited to get started.”
BHHS president and CEO Gino Blefari said the brokerages’ leadership teams have connected well, and that Commonwealth will officially join the network on Nov. 1.
“Commonwealth is a well-respected company with outstanding leadership,” said Belfari in a prepared statement. “We found instant chemistry with its leadership team and have already formed a strong bond with its members. We’re pleased Commonwealth will be a part of our real estate brokerage network and we’re ready to help the company grow.”
Beyond expanding its footprint in the U.S., Berkshire Hathaway HomeServices has made inroads in Western Europe, where, on Monday, the company announced that London-based Kay & Co. would become the brokerage’s second global franchisee. The deal will includes offices serving the city’s Mayfair, Hyde Park, Marylebone, Regent’s Park, King’s Cross, Bayswater, Paddington and West End neighborhoods.
In March, the brokerage spearheaded a deal with Berlin-based Rubina Real Estate to become its first global franchisee.
“We believe there will be a surge of homebuyer interest in areas across central London, driven by the arrival of Apple in Battersea Power Station, Twitter in Soho, Instagram and Snap in Fitzrovia and Google and Facebook in King’s Cross,” Kay & Co.,” Kay & Co. Managing Director Martin Bikhit told the Times of London.
Bikhit said the Berkshire Hathaway HomeServices name will appeal to English and American homebuyers alike — something they hope will bolster their presence in London. The brokerage plans to add 10 new offices over the next decade through a series of acquisitions and joint ventures, the report said.