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Corcoran Group Real Estate is a full service real estate firm. In 1995, they launched their website, Corcoran.com. Later the company merged Corcoran Group Marketing with The Sunshine Group, creating Corcoran Sunshine Marketing Group. Under CEO Pamela Leibman, they created the slogan "Live Who You Are", aiming to promote buying or renting as a more holistic experience. To date, their sales have reached more than $18 billion annually. Corcoran and their associates exist under an umbrella group, Reology, which also owns various popular real estate brands.

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The Good

  • Agents
  • Offices
  • Real estate options
  • Filtering options
  • License
  • Commission/selling cost
  • Specialties
  • Experience
Agents

Corcoran is affiliated with over 1,900 independent agents. This is definitely on the lower end for most real estate companies, but plenty for the demographic area they serve. The Corcoran Group is a member of the Cartus Broker Network in all the markets they serve. The network has over 1,000 member firms and 54,000 agents.

Offices

The agency currently has 25 offices. The majority of their offices are in the New York City metro area. Their executive office is on Madison Avenue in Manhattan.

Real Estate Options

Corcoran offers services to help you rent, buy, sell, and lease properties. Although the company is not an international brand, their site lets you search homes for sale internationally.

Their agents handle all aspects of your property sale, from pricing, marketing and showings to the intricate steps involved in closing the deal. They discuss your unique needs and goals then to present a customized marketing plan outlining how best to market your property. Your agent will also guide the entire process; seek pre-qualified buyer prospects and provide personal representation at every showing. Once offers come in, your agent will negotiate on your behalf with full knowledge of all activity associated with your property to secure the best price and the quickest closing and will work to bring the sale to a successful conclusion, helping you navigate building rules and all the details of transfer of ownership (especially for commercial clients). Concoran also has a thorough detailed seller's checklist on their website that when reviewed, was found to be extremely helpful to those overwhelmed with the process.

One unique service they offer is relocation services. This is done by their "A-Team"-a designated group of Corcoran agents trained in relocation services. If you're moving to one of the areas they serve, they can help by recommending neighborhoods to consider based on your lifestyle. If you fill out the form on their website, they will contact you with a customized plan to help make your move as smooth as possible. Corcoran's digital map will show you what impact different areas could have on your budget. Selecting a neighborhood will display the average prices of Corcoran's currently available apartments to buy, sell, or lease in Manhattan and Brooklyn.

Other corporate services they offer include: International "Settling-In" Services- a fee-based all inclusive service catering specifically to expats. Corcoran offers what they call the "Corcoran reports" the company's industry-wide, industry-wide, quarterly in-depth Market Data reports.

Filtering Options

Corcoran has 9 filtering options, including location, price, beds, baths, regions, neighborhoods, type (residential or commercial) and features (central air, dishwasher, doorman, etc.) They allow for an advanced search called Views-very pertinent to luxury clients, such as park views, river views or skyline views.

License

Corcoran requires all of their agents to have a license. Most agents are real estate agents, meaning they passed a test. Unlike many of their industry competitors who have real estate affiliates in their databases that vary between agents, realtors or brokers, Corcoran services limited areas (2 States to be exact) so they have no database with these choices. However, with their affiliations and mergings with other companies under their parent company, Reology, Realtors and brokers are also available.

Commission/Selling Cost

Commission terms vary by agreement, but generally is 6% and includes things like duties of the realtor, length of the exclusive, asking price and other selling terms. 6% Commission is standard in real estate.

Specialties

Under their specialty division Corcoran Group Marketing, Corcoran develops and markets new construction properties. This includes commercial properties. They also provide luxury residential properties with planning, design and marketing services. Another specialty is healthcare properties, serviced through Corcoran's other division, Wexler.

Experience

Corcoran was started in 1973. They've been in business for over forty years. They opened their first office on Manhattan's upper east side and expanded to downtown Manhattan and then the upper west side of Manhattan before expanding to Long Island and Florida.

The Bad

  • International
  • States
International

The agency is not available internationally. They are only available in the United States. Note: Corcoran's latest division, Corcoran Sunshine, is a brand under the Reology company, which operates in 104 countries.

States

In 2003, the company expanded into the Hamptons (Long Island) and South Florida (South Beach and Delray Beach), making Corcoran present in only 2/51 states. Most real estate companies are in over 40 states. If you are not in New York City or South Florida, and are looking for luxury homes, they cannot help you.

The Bottom Line

Corcoran Group Real Estate is a great option for residential clients looking to buy or sell homes, rent apartments or for commercial clients trying to buy, sell, rent, or lease commercial properties-especially healthcare properties. Their real estate agents are only located in Manhattan, Brooklyn, Long Island and South Florida (i.e. Delray Beach) so you're limited to buying, selling, renting or leasing in those few places. They are a luxury brand dealing in million dollar properties, so lower income customers need not apply.

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