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Century 21 Real Estate LLC is an American real estate agent franchise company founded in 1971. The system consists of approximately 14,000 independently owned and operated franchised broker offices in 86 countries and territories worldwide with over 147,000 sales professionals. [ 2 ]
US$7.21 billion (2021) Total equity: US$2.19 billion (2021) Number of employees. 7,900 (2024) Subsidiaries: ... Century 21 Coldwell Banker Corcoran Group ERA Real Estate
Silverman hoped that HFS's skills at franchise management would bring success in fields outside of hospitality. [13] In August 1995, it acquired Century 21, a franchised chain of brokerages, from MetLife for $200 million. [14] The company changed its name to HFS Inc. the same month, to reflect its broadened scope.
Art Bartlett, the founder of real estate giant Century 21, died in Coronado, Calif. on Dec. 31. He was 76 years old. Bartlett changed the competitive landscape of the residential real estate business.
Arthur E. "Art" Bartlett (November 26, 1933 – December 31, 2009) was an American entrepreneur and founder of the Century 21 Real Estate franchise. He and a partner founded the company in 1971 with a single office, which had expanded to 7,700 offices worldwide by the time of his death, though he had sold the business to Trans World Corporation in 1979 for $89 million.
His Canadian and Asian Century 21 companies have a combined 939 franchisees, employing 19000 salespeople as of June 2016. [4] In 2002, he founded Centum, a mortgage brokerage franchise brand. His Canadian and Asian Century 21 companies have a combined 939 franchisees, employing 19,000 salespeople, as of June 2016., [2]
A franchise is merely a temporary business investment involving renting or leasing an opportunity, not the purchase of a business for the purpose of ownership. It is classified as a wasting asset due to the finite term of the license. Franchise fees are on average 6.7% with an additional average marketing fee of 2%. [10]
The bodies of a California mother of three and her 19-year-old son were found dead by her daughter days before the family was set to celebrate Christmas.
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