One of the world’s largest real estate marketers expanded its Vancouver presence last week and intends to more than double in size within the next two years.
The 85-broker Legend Real Estate Group rebranded as Coldwell Banker Legend Real Estate Group (CBLREG) and agreed to pay an undisclosed one-time fee and ongoing royalty fee.
“I already have the China market,” said CBLREG owner Gina Lin. “I want to expand locally in Vancouver. It’s a new [Coldwell Banker] management team in Canada. They want to expand in Greater Vancouver as well. We share the same goal.”
Lin bought what was a 57-broker agency in 2009 and has steadily grown both her staff and her company’s sales volume. She told Business in Vancouver that she intends to have 200 brokers within the next two years.
Lin also operates eight real estate consulting offices in China, staffed by a total of 16 consultants.
Coldwell Banker Canada president John Geha said accepting a new partner is a long process that is not merely done for the sake of growth.
“We look at the strength of the company with their management team and the growth potential of the company,” he told BIV.
“We could easily grow as fast as we wanted and as big as we want, but, as much as we want to grow, we’re focused on quality.”
Coldwell Banker expanded in B.C. earlier this year when it added Vancouver Island’s Slegg family to its team. The Sleggs operate Slegg Lumber, a chain of home improvement stores, Geha said. Those stores will start to include Coldwell Banker kiosks.
Glen Korstrom
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