After 50 years of operating in the U.S., American real estate firm Corcoran Group is opening up its first-ever Canadian franchise.
Founded by famed entrepreneur Barbara Corcoran, Corcoran Group will see its first Canadian location set up shop across two offices — one in Kitchener and one in Cambridge — and serve clients in the Greater Toronto Area. The franchise will be owned and led by Cliff Rego, whose firm Rego Realty will become Corcoran Horizon Realty.
“Toronto is a dynamic city and a world leader in business, finance, and culture – I can’t think of a better market for Corcoran’s entry into Canada,” said Corcoran Group President and CEO Pamela Liebman. “Cliff and his incredible organization are ideal partners as we continue our global expansion and I’m eager to unveil all that Corcoran has to offer consumers and real estate professionals across Ontario.”
Corcoran Horizon Realty is now home to more than 55 agents and support staff, who will continue operating out of the former Rego Realty offices.
"Since our founding, we’ve aimed to enhance the real estate experience for our valued clients, our talented agents, and our dedicated industry peers,” Rego said. “Having partnered with Corcoran, all of our efforts toward these goals will be amplified, benefiting from a world-class brand and robust international network, ensuring the best possible opportunities for our company’s continued success.”
Corcoran Group launched its affiliate network in February 2020 and since then has seen franchises open up everywhere from New Jersey to Tennessee to the Cayman Islands and Turks and Caicos. The brand now has over 120 offices — part of its concerted effort to expand globally, which includes its foray into Canada.
In a release, Corcoran Group said Ontario was "an attractive locale for both domestic and international consumers."
"Toronto, the provincial capital and Canada's largest city, stands as a global economic and cultural hub in the south, while Ottawa, the nation's capital city and political center, lies at the northeast of the province," the release reads. "Additionally, the Waterloo region just outside of Toronto has emerged as a global technology hub, renowned for innovative production in the visual display, software, satellite, and eLearning industries, building upon the area’s in-demand real estate market."