Corcoran, the New York City-founded real estate brokerage and franchisor, is making its way up the Hudson River and expanding its brand presence on the West Coast.
The company announced Thursday the launch of a new affiliate, Corcoran Country Living, in New York’s Hudson Valley, and earlier in the week, the company’s first franchise Corcoran Global Living, announced it acquired Impact Real Estate in Temecula, California.
Corcoran County Living is the sixth Corcoran affiliate to launch in the U.S. since the beginning of 2020 and the second to be launched virtually due to the COVID-19 pandemic.
“We are truly ecstatic to be adding to the Corcoran family here in our home state of New York,” Corcoran President and CEO Pamela Liebman, said in a statement. “The Hudson Valley is a region we’ve had our eye on for quite some time now, so to have some terrific agents joining us who are already very well-versed in the area, and to have the opportunity for our New York City and East End agents to expand their referral business is a win-win.”
The new franchise, which is being launched with more than 20 agents, was created when two longtime Corcoran agents, Jason Karadus and Marie-Claire Gladstone, acquired an indie brokerage formerly known as Paula Redmond Real Estate. Paula Redmond, the former owner of the 17-year-old eponymous brokerage, will remain with the brokerage as an associate broker.
Corcoran Country Living will focus on Dutchess, Columbia and Ulster counties, which are traditionally popular second home markets for Corcoran’s existing New York City client base.
There’s also many in the real estate industry who think that smaller towns outside of cities will flourish in an era of increased remote work.
“As New York City’s preeminent real estate firm and an extremely well-respected and recognizable brand, Corcoran’s arrival to the Hudson Valley will reach an unprecedented number of city-based buyers and sellers through its network – particularly since in our experience, the vast majority of all sales transactions over $750,000 in the Hudson Valley region involve a New York City-based buyer, seller, or both,” Karadus said in a statement.
Earlier in the week, Corcoran Global Living, the brand’s first franchise, announced it was acquiring Impact Real Estate in Temecula, California.
The brokerage is now a combination of three former large indies: Zephyr Real Estate in San Francisco, Oliver Luxury Real Estate in Lake Tahoe and Reno, and now Impact Real Estate, which serves the greater Temecula and Southern California area. It now boasts more than 500 agents across 15 offices, with annual combined sales of more than $3.2 billion.
“This is still the beginning of all we have on the horizon for Corcoran Global Living,” Michael Mahon, Corcoran Global Living founder and CEO, said in a statement. “Today’s announcement of Impact Real Estate joining Corcoran Global Living continues our commitment to rapid growth, and bringing together top-performing sales associates and independent brokerages across several of the fastest-growing, most desirable areas in the Western U.S.”
Mahon added, “As I’ve said previously, our culture is paramount to who we are, and the choice to engage in such growth with a strong, like-minded firm as Impact proves that our people, and their success and happiness, is always top of mind.”