In its first major addition since launching in December, Corcoran Icon Properties, the Corcoran Group franchise, has brought on The Real Estate People team in Northern California, according to an announcement on Wednesday.
The team was previously affiliated with Coldwell Banker.
In addition to The Real Estate People’s 40-agent team, Corcoran Icon Properties will also add the team’s office in the Berryessa area of San Jose to its office roster. Corcoran Icon Properties currently has offices in the Almaden and Willow Glen neighborhoods of San Jose.
“I’m very excited to welcome The Real Estate People,” Susan LaRagione, partner and sales manager for Corcoran Icon Properties, said in a statement. “I’ve had the pleasure of working with many of the team’s members in the past, and they are an excellent example of our vision to recruit and empower the brightest and best. They bring a wealth of commitment, expertise and knowledge, making them a true asset to us not only in Santa Clara County, but also throughout Northern California.”
Founded in 1990, The Real Estate People closed $47 million in sales volume in 2022, according to the release.
Corcoran Icon Properties was launched in December 2022 after Corcoran Group terminated all Corcoran Global Living franchise agreements, sending affiliated agents and teams throughout California, Nevada and Ohio adrift.
The franchise is led by CEO Randall Kostck and president Steve Balluomini.
“As a great start to 2023, we are delighted to bring this team of professionals into the Corcoran Icon Properties family,” Belluomini said in a statement. “This group’s reputation is sold and truly representative of what we look for in our continued growth.”
In November, three separate lawsuits filed by former Corcoran Global Living agents alleged fraudulent behavior and breach of contract by CEO Michael Mahon. Several agents told Inman News in November that they didn’t receive commission checks for closed deals.
Corcoran Global Living was Corcoran’s largest franchise before the franchise agreements were terminated.