Coldwell Banker India is looking for expanding its base in Southern states like Andhra Pradesh, Tamil Nadu and states like Goa. The company aims to target the market share by 5% by the next two years and 10% in three years.
“India is one of the largest geographies for Coldwell Banker and we have very high hopes of making it the best in Asia Pacific. Faster than expected, India is the second fastest growing geography for Coldwell Banker worldwide and the fastest in Asia Pacific,” feels Michael Fischer, Chief Operating Officer, Coldwell Banker Real Estate LLC.
For the company, the India journey started with identifying that the real estate brokerage sector is highly fragmented. To follow the best practices in the real estate franchising model and understanding the market opportunity, the India operations began in April 2014. With a year and a half what started out as five franchisees in Mumbai in April 2014, the company now has 28 franchisees in six cities in India.
Coldwell Banker, one of the oldest national real estate brands in the United States, is a part of the $5 billion Realogy Holding Corporation and today has a growing network of more than 84,000 sales agents working in approximately 3,100 offices in 49 countries and territories. The company recently launched operations in the UK, India, Kenya and Thailand in 2015.