What is included in the Franchise Group segment for Corcoran?
Corcoran Franchise · 2025 FDDAnswer from 2025 FDD Document
The Company reports its operations in the following three business segments (the number of offices and agents are unaudited):
- Anywhere Brands ("Franchise Group")—franchises a portfolio of well-known, industry-leading franchise brokerage brands, including Better Homes and Gardens® Real Estate, Century 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA® and Sotheby's International Realty®. As of December 31, 2024, the Company's real estate franchise systems and proprietary brands had approximately 311,900 independent sales agents worldwide, including approximately 179,200 independent sales agents operating in the U.S. (which included approximately 52,900 company owned brokerage independent sales agents). As of December 31, 2024, the Company's real estate franchise systems and proprietary brands had approximately 17,800 offices worldwide in 119 countries and territories, including approximately 5,300 brokerage offices in the U.S. (which included approximately 580 company owned brokerage offices). This segment also includes the Company's global relocation services operation through Cartus® Relocation Services ("Cartus") and lead generation activities through Anywhere Leads Inc. ("Leads Group").
Source: Item 23 — RECEIPTS (FDD pages 75–276)
What This Means (2025 FDD)
According to Corcoran's 2025 Franchise Disclosure Document, the Franchise Group segment, also referred to as Anywhere Brands, encompasses several key components. It primarily focuses on franchising a diverse portfolio of well-known real estate brokerage brands. These brands include Better Homes and Gardens® Real Estate, Century 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby's International Realty®.
As of December 31, 2024, Corcoran's real estate franchise systems and proprietary brands boasted approximately 311,900 independent sales agents worldwide. Within the U.S., approximately 179,200 independent sales agents operated, including roughly 52,900 agents from company-owned brokerages. The franchise systems also included approximately 17,800 offices worldwide across 119 countries and territories, with about 5,300 brokerage offices in the U.S., including approximately 580 company-owned brokerage offices.
In addition to franchising, the Franchise Group segment includes Corcoran's global relocation services operation, conducted through Cartus® Relocation Services ("Cartus"), and lead generation activities managed by Anywhere Leads Inc. ("Leads Group"). This indicates that the Franchise Group is not only involved in traditional real estate franchising but also extends its services to relocation and lead generation, providing a comprehensive suite of services within the real estate sector.