Century 21 Real Estate’s top franchise office recently announced that it will enter the Southern California market.
Based in Madison, Wisconsin, franchise Century 21 Affiliated announced July 26 that it would merge with Southern California-based Century 21 Award. Headquartered in San Diego, Award runs 15 offices with locations in Orange, Riverside and San Diego counties, as well as Taos, New Mexico.
According to the parent corporation, this is the first time in Century 21’s 50-year history that two of its top franchisees have merged. Century 21 Affiliated ranked No. 1 for adjusted gross commissions in 2021. The San Diego-based Award franchise ranked No. 4 by the same metric, according to a parent company statement.
Financial terms of the merger were not disclosed. However, it was confirmed that David Romero, president and CEO of Century 21 Award, will continue to helm the franchise’s 15 offices.
Dan Kruse, Century 21 Affiliated’s CEO, said the merger would create “a larger referral network and shared leadership” to support growth. “There is great opportunity for future growth, both in and around California and the other markets we serve,” he added.
One advantage of the merger is Century 21 Award making use of Century 21 Affiliated’s centralized service department, which offers support in back-office operations such as contracts, invoices and training. On the other side, Century 21 Affiliated’s agents can use Century 21 Award’s video production department, which employs 10 full-time people.
In 2021, Century 21 Affiliated generated $2.81 billion in sales volume. Century 21 Award generated $2.74 billion, according to a statement from the parent franchiser..
Century 21 Award works with 734 agents in Southern California. Century 21 Affiliated works with 995 agents in more than 60 offices across Northern Illinois, Michigan, Minnesota and Wisconsin.
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