What was the total goodwill acquired by Corcoran in 2023?
Corcoran Franchise · 2025 FDDAnswer from 2025 FDD Document
(a) Goodwill acquired during the year ended December 31, 2023 relates to the acquisition of one real estate brokerage operation.
| Franchise | Brokerage Title | Total | ||
|---|---|---|---|---|
| Group | Group Group | Company | ||
| Goodwill (gross) at December 31, 2022. . . . . . . . . . . . . . . . . . . . . . . . . | $ 3,953 $ | 1,088 $ | 455 $ 5,496 | |
| Goodwill acquired (a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | — | 1 | — 1 | |
| Goodwill reduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | — | — | — — | |
| Goodwill (gross) at December 31, 2023. . . . . . . . . . . . . . . . . . . . . . . . . | 3,953 | 1,089 | 455 5,497 |
Source: Item 23 — RECEIPTS (FDD pages 75–276)
What This Means (2025 FDD)
According to Corcoran's 2025 Franchise Disclosure Document, the total goodwill acquired during the year ended December 31, 2023, related to the acquisition of one real estate brokerage operation. The table provided in Item 23 shows the breakdown of goodwill across different segments. However, the specific amount of goodwill acquired is not explicitly stated as a dollar figure. Instead, the table indicates an increase of '1' in the 'Brokerage Title Group' column under 'Goodwill acquired (a)'.
This suggests that while Corcoran did acquire goodwill in 2023, the FDD only provides a numerical indicator rather than a monetary value. The goodwill increase appears to be solely within the Brokerage Title Group. The table shows the goodwill (gross) at December 31, 2022, and December 31, 2023. For the Brokerage Title Group, goodwill increased from $1,088 to $1,089.
Therefore, based on the information provided, the goodwill acquired by Corcoran in 2023 for the Brokerage Title Group was $1. It is important to note that this figure represents the increase in goodwill and not necessarily the total value of the acquired brokerage operation. A prospective franchisee should seek clarification from Corcoran regarding the valuation methods used and the specific financial details of the acquired goodwill to fully understand its implications.