From boss to broker: Ilan Bracha joins Corcoran

Bracha and his team of agents join the firm’s East Side office

New York /
Apr.April 16, 2021 08:30 AM
Ilan Bracha (Getty)

Ilan Bracha (Getty)

Ilan Bracha is headed back to agent life.

The mega broker-turned-businessman and five members of his real estate group, IB Global, are the newest arrivals at the Corcoran Group.

This week, Bracha’s team, which includes himself, three other agents and two management heads, joined Corcoran’s East Side office.

The move comes just over a year after Bracha sold his Manhattan brokerage, Keller Williams NYC, which he co-founded in 2011. That franchise region has since been transferred to Richard Amato, who owns several Keller Williams offices in Nassau County.

Under Bracha and co-founder Haim Binstock, Keller Williams NYC became one of fastest-growing brokerages in the city, earning around $1 million in annual profits and swelling to 900 agents in 2015 before purging underperforming agents from its ranks three years later. Speaking to The Real Deal in 2019, Bracha described pivoting to a “quality over quantity” approach after the firm grew too big, too fast.

“It’s not about being a boss; it’s really about being the best you can be and serving the people in your business better,” Bracha said this week. “That’s the way to grow.”

After letting go of the brokerage, Bracha said he was eager to return to his roots as an agent. In his real estate career, which spans more than 20 years, he’s completed over $2 billion in transactions.

The IB Global team, which Bracha formed last year, closed more than $50 million in sales in the first quarter of 2021, he said.

But Bracha said the brokers needed a new home if they wanted to take their success to the next level, and he didn’t want to open a brokerage again. Instead, he set his sights on Corcoran, saying the company would give his team access to more inventory, new development and higher price ranges.

He added that the move will help him continue investing his earnings into New York City real estate and proptech without needing to build a brokerage from scratch.

“It’s the No. 1 brand,” Bracha said of Corcoran, which clocked in at the top of The Real Deal’s residential brokerage ranking of 2020, closing $5.8 billion worth of sales in Manhattan, Brooklyn and Queens. It ranked third in the city by headcount with 2,264 agents.

As for entering the same market as his former brokerage so soon, Bracha said he is not concerned about a little competition.

“There is room for every person, every broker in town right now to do better from last year,” he said.





    Related Articles

    arrow_forward_ios
    Here are the week’s top luxury sales
    Here are the week’s top luxury sales
    Here are the week’s top luxury sales
    Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)
    For 15 years, David Koch lived at the world’s “richest building”
    For 15 years, David Koch lived at the world’s “richest building”
    Here are the week’s top luxury sales
    Here are the week’s top luxury sales
    Here are the week’s top luxury sales
    Judith Nathan, Rudy Giuliani and 353 Lopers Path in Water Mill (Getty, Google Maps)
    Rudy Giuliani’s ex-wife sells Hampton home for $5M
    Rudy Giuliani’s ex-wife sells Hampton home for $5M
    Of the 110 metro areas with at least half a million people, 29 saw losses in 2020. (iStock)
    More urban areas lost population in 2020
    More urban areas lost population in 2020
    Analyzing Manhattan Housing Market Reports
    Untangling Manhattan’s myriad market reports
    Untangling Manhattan’s myriad market reports
    (Getty, iStock/Illustration by Alexis Manrodt for The Real Deal)
    Renters prepare for eviction crisis as aid is held up
    Renters prepare for eviction crisis as aid is held up
    40 Meadow Lane, Nir Meir and Robert Kraft (Google Maps, HFZ, Getty)
    Patriots owner Robert Kraft buys Nir Meir’s Hamptons home for $43M
    Patriots owner Robert Kraft buys Nir Meir’s Hamptons home for $43M
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...