Master franchise agreements, new franchises and mergers and acquisitions all lead to growth
March 26, 2009 // Franchising.com // PARSIPPANY, N.J. -- Century 21 Real Estate LLC, the franchisor of the world's largest residential real estate sales organization, announced today that its international master franchises, which operate in 64 countries and territories worldwide, granted more than 400 new franchise offices outside of the United States in 2008. Domestically, 34 new independently owned and operated brokerage companies joined the franchise network in 2008, and 83 affiliated companies grew their residential operations through mergers and acquisitions or by opening new branch offices. Overall in 2008, the CENTURY 21 System grew to over 8,500 offices worldwide.
"Despite the current economic climate, the CENTURY 21 System continued to experience strong growth in 2008," said Tom Kunz, CENTURY 21 president and CEO. "The national and international expansions to our network this year are positive steps toward achieving our goal for worldwide growth. In 2009 we will continue to meet the diverse needs of our customers by expanding our presence in existing and emerging markets."
In 2008, the CENTURY 21 System expanded its international presence, signing new master franchise agreements in seven countries, including Angola, Albania, Brazil, Czech Republic, India, Serbia and Montenegro. Currently, more than 50 percent of CENTURY 21 offices are outside of the United States.
During the fourth quarter alone, three new independently owned and operated brokerage companies joined the CENTURY 21 franchise network in the United States and 11 affiliated companies grew their residential operations through mergers and acquisitions or by opening new branch offices.
The domestic companies that joined the CENTURY 21 System during the fourth quarter are CENTURY 21 Apprentice of Garden Grove, CA; CENTURY 21 Coast to Coast of Tierra Verde, Palm Harbor and Clearwater, FL; and CENTURY 21 Southern Lifestyle of Bluffton, SC.
The following CENTURY 21® affiliated companies grew their residential operations through mergers and acquisitions or by opening new branch offices during the fourth quarter:
Company Town State
CENTURY 21 All Star Realty, Porterville CA
CENTURY 21 Gold Team Bellflower CA
CENTURY 21 The Firm Santa Monica CA
CENTURY 21 West Coast Brokers Walnut CA
CENTURY 21 Belair & Associates Delta CO
CENTURY 21 RiverStone Sandpoint ID
CENTURY 21 Advantage Wichita KS
CENTURY 21 Citiwide Peabody MA
CENTURY 21 Big Sky Real Estate Polson MT
CENTURY 21 Express Las Vegas NV
CENTURY 21 Chapman Agency Langhorne PA
Century 21 Real Estate LLC is the franchisor of the world's largest residential real estate sales organization, providing comprehensive training, management, administrative and marketing support for the CENTURY 21 System. The System is comprised of more than 8,500 independently owned and operated franchised broker offices in 64 countries and territories worldwide. Century 21 Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services.
© 2009 Century 21 Real Estate LLC, A Realogy Company. CENTURY 21® Is A Registered Trademark Licensed To Century 21 Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each CENTURY 21 Office is Independently Owned and Operated.