Century 21 is set to open its first franchise office in Manhattan in a bid to strengthen its international network and tap foreign buyers.
In joining the Century 21 network, Manhattan-based Metropolitan Residential Partners will rebrand as Century 21 Metropolitan next month. At a holiday party where the news was announced to Metropolitan agents, Century 21 CEO Rick Davidson told Inman News that the brand selected Metropolitan after spending a “tremendous amount looking to the marketplace for the right partner.”
Ultimately, Century 21 settled on Metropolitan due to its “experience and expertise,” particularly with foreign buyers, he said.
Douglas Magid, co-owner of Metropolitan, said that half of his brokerage’s agents speak two to three languages fluently and that the company has focused on “building a boutique real estate practice.”
Century 21 has about 7,100 independently owned and operated franchised broker offices in 75 countries and territories worldwide with more than 102,000 agents, according to the franchisor’s website. The franchisor has offices in New York City’s four other boroughs, but had not expanded into Manhattan until now.
The expansion is part of a broader effort by Century 21 to both grow and leverage its international presence, according to Davidson. In October, Century 21 launched a multilingual, global listing site that lets consumers view listings around the world in 16 languages and 37 currencies, according to Davidson.
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