From New York City's original market report to being the first Manhattan real estate brokerage to launch a website, Corcoran toasts a half-century of growth and innovation
NEW YORK, April 19, 2023 /PRNewswire/ -- The Corcoran Group, Manhattan's #1 residential real estate brokerage, today announced the firm's 50th anniversary. A woman-led brand since its inception in 1973, this notable milestone comes at an exciting time for Corcoran following its recent expansion into Europe. From a small office with big dreams to a thriving business with over $30 billion in annual sales, the Corcoran name continues to stand for excellence in real estate.
Barbara Corcoran founded her eponymous residential real estate company on the Upper East Side of Manhattan with just seven agents and a $1,000 loan. In the years that followed, the firm expanded quickly – first to downtown Manhattan and then across the bridge to Brooklyn.
But Corcoran's early growth wasn't solely geographic. In 1981, The Corcoran Report – the first real estate market report – began covering New York City real estate trends. Pamela Liebman, a real estate agent at the time, created Corcoran Marketing Group in 1990, a division dedicated to the planning, design, marketing, and sales of residential new development projects. A few years later Barbara launched Corcoran.com, making the firm Manhattan's first real estate brokerage to come online.
"Everyone who works at The Corcoran Group put their heart and soul into the business," said Barbara. "We were able to attract and keep the best people, and it was the herculean efforts of our people that got us through all the tough times and pushed us ahead in good times. We survived the city's bankruptcy, the stock market crash, the AIDS epidemic, and 9/11. The Corcoran Group became a great company because of its phenomenal people."
In 2000, Barbara named Liebman the firm's President and Chief Executive Officer, a title she continues to hold 22 years later. Barbara then sold the firm to NRT in September 2001.
Once at the helm, Liebman started expanding Corcoran into key East Coast markets with the acquisitions of top-tier firms in South Florida and the Hamptons, and with the purchase of Citi Habitats, New York City's largest rental brokerage firm. Liebman also led the acquisition of The Sunshine Group in 2002, creating the Corcoran Sunshine Marketing Group, recognized as the premier industry leader in luxury residential new development.
2004 unveiled Corcoran's acclaimed 'Live Who You Are' marketing campaign, a brand transformation led by Chief Marketing Officer Christina Panos, and what ultimately became the ethos behind the brand's human-first approach to real estate. To bring the campaign to life, Panos engaged renowned photography legends like Tina Barney and Annie Leibovitz and, in doing so, singlehandedly introduced fashion photography to the real estate industry.
Another industry first was the launch of Agent Studio in 2017, a center dedicated solely to the development of Corcoran's agents. In the first-of-its-kind, state-of-the-art space, the team provides agents with the tools they need to grow their businesses. Agent Studio continues to feature classes, expert panels, and an in-house Mindset and Marketing Coach who helps agents bring their businesses to the next level. In March 2020, in response to the COVID-19 pandemic, Agent Studio immediately shifted to a fully virtual platform to ensure agents were equipped with the tools and the knowledge needed to rule the recovery.
"As we celebrate Corcoran's 50th anniversary, it's incredible to look back on the past half-century and see how much both Corcoran and the real estate industry have evolved," said Liebman. "From the rise of technology to the changing needs of our buyers and sellers, we've seen tremendous shifts in the way we do business. What hasn't changed is our commitment to providing exceptional service to our clients. While the world is a much different place than it was 50 years ago, the dream of homeownership remains the same."
2020 saw the launch of the Corcoran Affiliate Network, a strategic vision that swiftly grew to ten markets worldwide within the first year. Recognized as parent company, Anywhere Real Estate's fastest-growing brand, Corcoran marked its one-year anniversary with the launch of its first global franchise in the British Virgin Islands. In just over three years, the brand stretches across more than 170 offices – coast to coast in the United States, across six Caribbean islands, and in Italy as of March 2023, marking the brand's first European affiliate.
Over the past five decades, Corcoran has built a reputation for a human-first approach to the industry, coupling a modern mindset with traditional values of service, integrity, market expertise, and neighborhood fluency. Corcoran's sense of service proudly extends far beyond just providing knowledgeable real estate advice. Corcoran Cares, the firm's philanthropic arm, was developed as a way for agents and employees to be able to positively impact their local communities in the areas that matter most. Since its inception, Corcoran Cares has raised close to $5 million for worthy charities in New York City, on the East End of Long Island, and across South Florida.
Liebman remarks, "They say that time flies when you're having fun, and that's certainly been true for me. To look back on all that we've accomplished over these 50 years – every first that Corcoran has brought to the industry through our tremendous agents and world-class staff – it makes me incredibly proud. I work alongside the best of the best, and I'm reminded of that every day. We're proud of our legacy and excited to continue shaping the future of real estate for another 50 years and beyond."
About The Corcoran Group
The Corcoran Group has been a leading residential real estate brand for 50 years. Through its New York City, Hamptons, and South Florida brokerages, along with its rapidly growing affiliate network, the firm is home to 170+ offices and more than 4,500 independent salespersons in key urban, suburban, and resort markets nationwide. Corcoran affiliated agents earn and keep their clients' trust with an unwavering commitment to white-glove service, expertise, and integrity. In every market served, Corcoran helps you find the home that's just right for you. The Corcoran® brand comprises both offices owned by a subsidiary of Anywhere Advisors LLC (f/k/a Realogy Brokerage Group LLC) and franchised offices, which are independently owned and operated. For more information about The Corcoran Group, please visit www.corcoran.com.
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SOURCE The Corcoran Group
