The Real Deal New York

Century 21 has a plan to double deal volume by 2022

CEO Nick Bailey took the helm of 111,000-agent firm in August
March 06, 2018 11:45AM

Nick Bailey, Century 21’s old logo and their new logo

Century 21 — a largely suburban brokerage with 128 offices in the New York City metro area, the most of any franchise — has unveiled a “big, bold” rebrand to coincide with ambitious plans to double its business within five years.

CEO Nick Bailey, who took the helm in August, is aiming to hit 832,000 transactions by 2022, up from 417,000 in 2017. “To be competitive, we owe it to our agents to be relevant today and tomorrow,” he told Inman.

As part of that push, the company has overhauled its branding, replacing a dated yellow-and-black logo with a sleek metallic look. “We tore the old house down to the studs and rebuilt it,” according to a website announcing the rebranding.

Bailey said he’s focused on the consumer experience — a la Amazon, Netflix and Yelp. But he doesn’t have any illusion about what business he’s in.

“Right now real estate companies are saying, ‘We are in the training business, we are in tech,'” he said. “There is no question, Century 21 is in the real estate business.”

Century 21 is a subsidiary of Realogy, the $6.1 billion parent company of Corcoran Group and Citi Habitats. Among national franchisors, it has the biggest presence in New York, with offices concentrated in Brooklyn and Queens. Nationwide, Century 21 has 2,216 offices. [Inman]E.B. Solomont