Coldwell Banker to expand business, looking for 5-7% market share in India

The broking firm which has 5,000 offices in US, is looking to have 100 franchisees in India by next year-end

Coldwell Banker, one of the largest US-based real estate broking firms, is looking to expand in the country, with network of its franchisees who will pay it a fee for services such as training, branding and so on.

While US-based CBRE, JLL, Cushman & Wakefield and UK-based Knight Frank are the largest realty brokerage in the country, all of them have their own offices and staff.

Coldwell Banker, which has 3,100 offices across globe, is looking to have 100 franchisees in India by the end of next year, said Ramnik Chopra, managing director, Coldwell Banker India. It has 8,400 agents in 49 countries.

Already, Coldwell has 3 operational franchisees in the country. It plans to expand in Mumbai, Pune, Bangalore and NCR.

"Coldwell Banker India is looking to acquire 5 to 7 % market share in the next 3 to 5 years in India," Chopra said.

Coldwell Banker US enjoys a 30% market share.

Besides, Coldwell Banker is also aiming to combine services of e-commerce firms and its network of its franchisees to generate business.

Here, the e-commerce firms give the company leads about probable transactions which it will pass it on to its franchisees, who will get in touch with buyers.

"There are 10,000 brokers in Mumbai who are unorganized. We want to convert them into professional brokers," Chopra said.

Coldwell Banker also has a concept called 'Preview' to market top end homes to affluent customers.