Rapid rise for organisation

Press, 30 August 1989, Page 57

Rapid rise for organisation

Century 21 was founded by two real estate visionaries, Art Bartlett and Marsh Fischer, in July, 1971, in Orange County, California. Company publicity attributes the explosive global growth since then as the result of “outstanding commitment to franchise support and recognition by professional estate agency practitioners of the value of being part of an aggressive, marketing-oriented organisation.” This format has thus far produced awesome results for Century 21. Within five years of establishment it had become the industry leader in the United States with 3217 offices affiliated with the Century 21 system and sales

totalling $3 billion (United States) annually. This prolific growth curve did not pass unnoticed in corporate America and within a short time a number of arden suitors were after control of the group. Since then it has passed through only two changes of ownership, currently being under the mantle of the insurance and finance conglomerate Metropolitan Life Insurance Co. who paid (United States) $251 million for the group in October, 1985. By the end of the 19705, the company had begun its globaal growth initially opening offices in Canada where there are now more than 400 independentlyowned and operated Century 21 offices.

The next offshore target was Japan and in 1983 a master franchise agreement was negotiated with the giant C. Itoh and Co., Ltd. Within a few years more than 230 offices had opened.

The next area for expansion was Europe and at the end of last year 160 offices had been established in the United Kingdom and France.

The Pacific linchpin of the expansion into the area is the Sydney-based A. H. Taylor Family Group that had been operating for more than 60 years.

The brief and commitment for Century 21 South Pacific is simple and direct — to build the strongest estate agency network in the Asia Pacific region.