Corcoran, John Taylor team up to target international buyers
Monaco firm has $12B in listings worldwide
The Corcoran Group and John Taylor Group are teaming up to capitalize on international buyers’ appetite for high-end real estate worldwide, the companies said Thursday.
For Corcoran, the alliance with Monaco-based John Taylor, which has $12 billion in worldwide listings, reflects a strategy for expanding internationally.
The alliance will give Corcoran a foothold in “targeted global markets,” Pamela Liebman, Corcoran’s president and CEO, said in a statement. She added: “With a large percentage of Corcoran condominium sales coming from international buyers today, our affiliation with John Taylor enhances the level of client services and property selections both firms can offer on a global basis.”
The alliance is the latest effort by a brokerage to tap into the international luxury market. In September, Douglas Elliman and international brokerage Knight Frank Residential announced a partnership aimed at selling luxury real estate. Douglas Elliman Knight Frank Residential is targeting the top 10 percent of the market.
John Taylor, which caters to high net-worth clients, has 19 offices worldwide, including locations in Paris, London, Madrid, Monaco and Moscow. The brokerage currently has 2,400 listings. Last year, the firm’s average sale was $5.5 million.
A subsidiary of real estate conglomerate Realogy Holdings Corp., Corcoran has 40 offices and 2,220 agents in New York and Florida. In New York City, the brokerage has 1,249 agents and more than $4.1 billion in listings as of November 24, according to data from On-Line Residential obtained by The Real Deal.
“New York City, the Hamptons and South Florida are the three top destinations attracting our international clients in search of exclusive luxury real estate properties in North America,” Delphine Pastor, John Taylor’s president, said in a statement.