According to Wednesday’s announcement, Corcoran Icon Properties (the Corcoran Group franchise) has hired The Real Estate People in Northern California as its first major addition since December.
Coldwell Banker was the previous affiliation of the team.
Corcoran Icon Properties will add The Real Estate People’s 40 agent team to its office roster. Corcoran Icon Properties also plans to add the Berryessa office to its office list. Corcoran Icon Properties has offices in San Jose’s Willow Glen and Almaden neighborhoods.
Susan LaRagione (partner and Corcoran Icon Properties’ sales manager) said that she was very excited to welcome The Real Estate People. “I have had the pleasure to work with many of the team members in the past and they are an excellent example for our vision to recruit the brightest and most talented. They are a great asset to us in Santa Clara County as well as throughout Northern California.
According to the release, The Real Estate People was founded in 1990 and closed $47 million in 2022 sales volume.
Corcoran Icon Properties was established in December 2022, after Corcoran Group had terminated all Corcoran Global Living franchise arrangements. This resulted in affiliated agents and teams being sent adrift throughout California, Nevada, and Ohio.
The franchise is managed by Randall Kostck, CEO, and Steve Balluomini, president.
Belluomini stated in a statement that “As a great beginning to 2023, it is a delight to bring this team to the Corcoran Icon Properties Family.” “This group’s reputation has been sold and is a true representation of what we want in our continued growth.”
Three separate lawsuits were filed in November by former Corcoran Global Living agents. They alleged fraudulent behavior and breaching contract by CEO Michael Mahon. Inman News was informed by several agents that they did not receive commission checks for closed transactions.
Before the franchise agreements were terminated, Corcoran Global Living was Corcoran’s largest franchise.