Realty ONE Group, a real estate franchise that has entered 18 states since launching in 2005, is eyeing the Manhattan market.
The company announced their plans to expand the network into the New York metropolitan area, including Manhattan, last week.
“New York City is a gateway to America and a hub for foreign investment,” said Kuba Jewgieniew, founder and CEO. “Realty ONE Group’s presence in the Big Apple is a major factor in our expansion into Europe and other international markets.”
Jewgieniew said the aggressive, national expansions represent a potentially huge increase in territory for Realty ONE Group.
The 12-year-old, debt-free company is also looking to expand to Miami, another gateway city, and other large markets throughout the United States this year.
Realty ONE Group says it offers “a unique franchise model, combining a dynamic brand with technology that maximizes productivity and relevant marketing. Unlike traditional brokerages, the company offers an attractive commission structure with 24/7 support for their real estate professionals.ˮ
The privately owned company has grown to more than 8,800 professionals, in 80 offices across 18 states. It has been ranked in the top one percent in the nation by REAL Trends, and landed a spot on the Inc. 500 Fastest-Growing Companies list for seven consecutive years.
Jewgieniew said New York is the next natural progression for the company. “The city is brimming with international opportunities and brilliant industry professionals,ˮ he said. “I look forward to expanding our presence so we can expand into international territories within the next year.ˮ
Realty ONE is the latest in a line of franchises to attempt to crack the Manhattan market, which is dominated by independent national giants such as Douglas Elliman and Corcoran.
Keller Williams New York has been the sole franchise to succeed in building a strong base in the city in recent years using what what it has called called an “unconventionalˮ business model.
Keller Williams NYC is the New York City master franchise of the Texas-based brokerage giant that ws launched by Ilan Bracha in 2011.
It now has two Manhattan offices with 800 agents that work on a profit-sharing basis.
Last year, suburban giant RE/MAX announced a major expansion in the state of New York and tapped a recruitment team to find the right talent for the job.
“The sales people that work in major metro markets — New York City, Chicago, Atlanta, Philadelphia — are very different than salespeople in the suburbs and rural areas,” said RE/MAX founder Dave Liniger.
“It’s just about getting the right management team, selling franchises to the right people with the right drive and ambition and leadership style.”