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Tag: century 21

  • Century 21 Department Store to Reopen in Manhattan in May | Entrepreneur

    Century 21 Department Store to Reopen in Manhattan in May | Entrepreneur

    TikTok loves a good thrift haul, but New Yorkers have long known the euphoric feeling of snagging a designer deal off-the-rack.

    Century 21 Department Store, once downtown Manhattan’s designer discount Mecca, is reopening its flagship at 22 Cortland Ave. across from the World Trade Center on May 16. The news was first reported by Crains New York.

    After being in business for 60 years, Century 21 filed for bankruptcy in 2020, even though the company made $747 million in 2019, per Gothamist. Court filings indicate that pandemic-related diminished foot traffic in lower Manhattan and the e-commerce business, in general, hurt the company. Century 21 closed all 13 stores in Florida, New Jersey, and Pennsylvania during the restructuring.

    “Since 1961, when Al and Sonny Gindi opened what was then a small store in Downtown Manhattan, we have been proud to provide shoppers with unmatched access to designer brands at amazing prices,” Century 21 co-CEO IG Gindi said at the time of the closing. “While we wish that Century 21 could continue to be a must-see shopping destination for so many, we are proud of the pioneering role it has played in off-price retail and the iconic brand it has become.”

    Reports say the store will be half the size of the original.

    Entrepreneur Staff

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  • M&A – IT’S ALL ABOUT THE AGENTS | Century 21®

    M&A – IT’S ALL ABOUT THE AGENTS | Century 21®

    Andrew Hauck learned everything he knows about real estate from his mom. As the broker/co-owner of CENTURY 21 Signature Realty in Saginaw, Michigan, Andrew started selling real estate with her when he was just 21 years old and still in college.

    Today, his brokerage boasts 10 offices serving Saginaw, Midland, Bay and Genesee Counties in Central Michigan near Lake Huron’s Saginaw Bay and based on transaction volume, CENTURY 21® franchise affiliate in Michigan in 2021.

    Destined to Close Deals

    The son of CENTURY 21 affiliated agent Jan Hauck, Andrew grew up watching his mom show houses, take calls and negotiate deals. You couldn’t miss what his mom did for a living – bulky MLS books stacked in the closets, For Sale signs leaned against the wall, and everyone knew there was no talking or horsing around when she was on the phone. Yet despite the 70 hours she dedicated to her business each week, she was always at his games and school events and was there to pick him up from school every day

    Fast forward to college, Andrew studied business with plans of going into management consulting. About half-way through, he realized that a real estate business could be more lucrative and rewarding, so he decided to follow in his mom’s footsteps. Between finance and macroeconomics classes, Andrew earned his real estate license and started gaining real-world experience, learning the importance of providing exceptional experiences to his clients. By the time he graduated with a bachelor’s degree in economics, he’d already helped clients purchase and sell several properties.

    After a few years, Andrew went back and earned an MBA to shore up his credentials. “There weren’t many 25-year-old agents who already owned their own house and had five years of experience, so that helped with my credibility. It was even more valuable when I became a broker-owner.”

    The CENTURY 21 Brand Can Open Doors

    He’s been a loyal CENTURY 21 affiliated agent from the start. His mother started the brokerage as an affiliate of Century 21 Real Estate LLC in 2005 with two partners, Ken Kujawa and Dr. Sam Shaheen. In early 2019, Andrew purchased his mother’s stake in the brokerage and took over operations while she returned to sales. 

    As a new broker/owner, his mom cautioned him to never underestimate the importance of empathy, camaraderie and a building agents can call home. He knew that to be successful in real estate, you had to play an active role in the community. So, at a time when many brokerages were cutting costs and closing offices, Andrew made his offices a cultural cornerstone.  

    “We operate in smaller markets, where it’s so important to be visible and active in the community. For us, it’s just part of our culture. Our offices are involved in local events, from pet adoptions and fundraisers to parades. We look for opportunities where we can really get involved, not just slap our logo on a program.”

    He says the national name recognition of the CENTURY 21 brand has given the brokerage a huge advantage, especially in Michigan where the brand has had a presence since its founding in the ‘70s. “The CENTURY 21 brand is the most recognized and respected name in real estate*, so we never have to explain who we are. We can focus on our value proposition, which makes everything so much easier.”

    Not a ‘status quo’ kind of guy, Andrew is relentless in looking for what’s next, what else the brokerage can do to differentiate itself and take it to the next level. That’s another reason why he appreciates the CENTURY 21 brand. “They’ve always been very proactive in helping brokers achieve their business goals and willing to evolve. As a broker, that’s how I approach my own business, so that’s always been a great value to me.”

    Mom’s Greatest Lesson

    While Andrew is the first to say he learned everything he knows about real estate from his mom, he says the most important thing he learned from her was professionalism. “From the minute she became an agent, she was nothing but professional. I’ve seen too many treat it like a hobby or just a side gig, but to her, it’s always been a serious commitment to deliver extraordinary experiences.”

    This professionalism is one of the biggest challenges Andrew sees brokers facing today. “When you only focus on money – how many deals you’re making and for how much – you lose sight of what’s most important, and that’s helping people. Real estate is about improving the lives of agents and helping communities. Professionalism means providing mentoring, oversight and accountability. If you don’t, things can get sloppy, mistakes are made and deals fall through.”

    Andrew says that’s why his brokerage is selective in the agents they choose to affiliate, seeking professionals who want to learn and serve their community.

    Focusing on Agents, First

    Despite serving relatively small communities across Central Michigan, CENTURY 21 Signature Realty has earned a spot on the Real Trends 500 list every year since 2018, which ranks the top brokerages nationwide. It’s also the only Real Trends 500 company in the Great Lakes Bay region, a fact Andrew attributes in part to his mergers and acquisitions strategy – the brokerage has completed three in as many years with another in the works.

    “The CENTURY 21 brand is an enormous help during the search and discovery phase by assisting with local market conditions, verifying brokerage and agent data, and even setting up meetings with potential M&A targets. It also provides resources, assistance and personnel to ensure the acquisition is a success.”

    When considering other brokerages for mergers and acquisitions, Andrew says it’s very important to only consider companies that share your values and culture. CENTURY 21 Signature Realty has an “agents first” approach.

    “We’re here to work for the agents, not the other way around. We offer constant support, celebrate their successes, and hold high standards and morals.  It’s about sharing and caring. It’s about trusting each other and working as a team. If a potential M&A doesn’t share these values, I’ll walk away. It’s not worth diluting our culture.”

    Andrew says most brokers struggle with something – it might be mentoring agents, marketing, name recognition or a lack of tools. When speaking with a potential acquisition, Andrew’s team digs to identify what’s missing and how CENTURY 21 Signature Realty could make a difference on day one.

    “A lot of broker-owners are wearing too many hats. They cut the checks, input data, deal with difficult closings, handle marketing. But you can’t do it all well. That’s why we’ve built a strong support team, so our leaders can focus on providing agent learning and coaching opportunities.”

    Just as important as sealing the deal on an acquisition is on-boarding the agents, teaching them about all the new tools and programs they can access through the CENTURY 21 brand, and bringing them into the culture. That’s an area where Andrew says he and his partners really excel. New agents start out with a 30-day mentoring program to learn the ropes, and both new and experienced agents are enrolled in CENTURY 21 University® courses to expand their skills and learn about all the available resources.

    So, four years after he took the helm, what does mom think about his real estate business?

    “I think she’s very proud. She sees how hard I work and how much goes into it. But I also think she misses her real estate partner, since she’s still out there listing and selling but I’m more focused on the operations side of things now. We were a great team!”

    *2021 Ad Tracking Study. The survey results are based on 1,200 online interviews with a national random sample of adults (ages 18+) who are equal decision makers in real estate transactions and active in the real estate market (bought or sold a home within the past two years or, plan to purchase or sell a home within the next two years). Brand awareness question based on a sample of 1,200 respondents. Results are significant at a 90% confidence level, with a margin of error of +/-2.4%. Recognition question based on consumers aware of brand in question. Results are significant at a 90% confidence level, with a margin of error of +/- 2.4%. The study was conducted by Kantar Group Limited (formerly Millward Brown), a leading global market research organization, from November 9-27, 2021.

    ©2022 Century 21 Real Estate LLC. All rights reserved. CENTURY 21®, the CENTURY 21 Logo and C21® are trademarks of Century 21 Real Estate LLC. The CENTURY 21® System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated. This is not intended, and shall not be deemed to constitute, an offer to sell a franchise. Franchise offerings made only by a Franchise Disclosure Document. THESE FRANCHISES HAVE BEEN REGISTERED UNDER THE FRANCHISE INVESTMENT LAW OF THE STATE OF CALIFORNIA. SUCH REGISTRATION DOES NOT CONSTITUTE APPROVAL, RECOMMENDATION OR ENDORSEMENT BY THE COMMISSIONER OF CORPORATIONS NOR A FINDING BY THE COMMISSIONER THAT THE INFORMATION PROVIDED HEREIN IS TRUE, COMPLETE AND NOT MISLEADING. This advertisement is not an offering. An offering can only be made by a prospectus filed first with the Department of Law of the State of New York. Such filing does not constitute approval by the Department of Law. The Minnesota registration number for this franchise system is #F186. Century 21 Real Estate LLC, 175 Park Avenue, Madison, NJ 07940.

    C21 Communications

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  • Defying Mediocrity is Game Changing | Century 21®

    Defying Mediocrity is Game Changing | Century 21®

    21 Years with the CENTURY 21® brand

    When Jamie Skeen boldly purchased his town’s largest brokerage after fewer than two years as an agent and just two years out of college, some thought he was crazy. But this game-changing move kicked off an illustrious professional path as the broker/owner of CENTURY 21 Legacy in Northeast Tennessee.

    In his (quite fittingly) 21st year with the CENTURY 21® brand, it’s no surprise that Jamie has been named to the 2022 RealTrends Game Changers list. Honoring those who have dramatically grown their brokerage in the past five years – a time when the real estate industry was shuttered by a global pandemic and the virtual halting of the economy – Jamie significantly grew his brokerage.

    CENTURY 21 Legacy is nestled in the Appalachian Mountains of Northeast Tennessee, boasting 10 offices that stretch from Athens, just north of Chattanooga through Maryville to Knoxville, the tourist meccas of Gatlinburg, Pigeon Forge and Townsend, and up to Greeneville, Johnson City and Kingsport, just south of the Virginia border. A Greeneville native, Jamie is passionate about the local communities and the picturesque mountains, which he explores on his two American Quarter horses.

    Starting with just 24 agents in 2003, CENTURY 21 Legacy has skyrocketed to 330 agents. Last year, CENTURY 21 Legacy was the #1 CENTURY 21 company in Tennessee in units, and the #8 CENTURY 21 company in units in the US.

    Best Thing That’s Ever Happened to My Business

    After acquiring the former CENTURY 21 Billy Williams & Associates, Jamie continued to sell real estate personally while managing his growing brokerage. Just five years into business, the subprime mortgage crisis hit, forcing him to quickly change his priorities. He found the most crucial need was coaching nervous agents on how to handle the challenging market and recession. But in crisis, he found a new purpose. He quit personal production and began devoting all his time to running the brokerage and providing the services, coaching, tools and training agents needed to handle the challenging market and recession. Ensuring agents had the ability to be relentless and succeed became his top priority.

    “It was a tough time, but it was probably the best thing that’s ever happened to my business. I realized I couldn’t continue to run a company that size and continue to sell. You get to the point where you ask yourself: am I going to work in my business or on my business? It was a big change in mindset, but I knew I couldn’t do it all and do it well.”

    Jamie’s experience has taught him that each market has its own unique set of circumstances. In 2008, inventory was high and sellers were desperate, but there were few buyers. Today, buyers are plentiful but exhausted by the low inventory, and competition for listings is fierce. Despite the two markets being almost complete opposites, the impact on agents can be quite similar.

    “Regardless of how the market is performing, agents want the same things — support, services, more leads, better training and a beneficial split.”

    That’s when working with the CENTURY 21 brand, the most recognized name in real estate and the most respected brand in the industry* is invaluable. Jamie shows agents how the C21® brand offers quality leads, industry-leading tools that help agents work more efficiently, as well as valuable support and coaching, which agents can use to significantly impact their success. In the end, Jamie knows these resources can position an agent to relentlessly manage any market.

    One Big Family

    After 21 years with the CENTURY 21 brand – considerable longevity for any broker, but especially one who joined so early in his professional – Jamie says it’s had a tremendous impact on his business.

    “It’s like one big family. From the brand team to the brokers, they care and are always willing to help. From day one, I’ve had great learning opportunities and the support to help me succeed as I grew in my profession. I can still call the brand team or other C21 affiliated brokers, and they’re always available to offer advice and answer questions. The C21 brand has given me what I need, and the collaboration has helped me so much.”

    Jamie particularly values the sharing culture, especially among the broker/owners. From the start, he focused on building relationships with larger C21 affiliated brokers to ask questions and hear their perspectives on challenges and opportunities. It’s something he continues today, and he also readily passes on what he’s learned to other brokers who are starting out.

    Creating a Legacy

    Throughout his professional growth, Jamie’s business philosophy has been simple – do the right thing.

    “When you focus on doing the right thing for your agents to succeed, consumers will achieve their homeownership dreams. By running a business based on solid ethics, you usually win in the end.”

    It’s clear that giving back is baked into the brokerage’s DNA. Jamie created a ”Leaving a Legacy” fund, which enables agents to contribute part of their commissions as a charitable donation, and Jamie matches a portion. At the end of the year, part of the fund is donated to Easterseals by the brokerage — the CENTURY 21 brand has supported Easterseals since 1979. Then each office gets to choose a local community charity to donate the rest of the funds raised, so they make a local impact.

    Through this program, CENTURY 21 Legacy is the #1 contributing CENTURY 21 company in Tennessee for Easterseals and has donated more than $200,000 dollars to Easterseals and local charities since 2017.

    With CENTURY 21 Legacy’s focus on giving back, you might assume the name CENTURY 21 Legacy was chosen because Jamie wanted to create a legacy of charitable giving. But it was actually inspired by the previous owner.

    “Billy Williams was someone I really looked up to. He was one of the first brokers in Tennessee to start a franchise, the president of the Tennessee Association of REALTORS® and was always just the most professional, progressive guy. I saw he was leaving a legacy in our community, the real estate industry and within the CENTURY 21 network, and I wanted to continue that legacy.”

    It must be working, because Billy’s son, Mark Williams, remains affiliated with CENTURY 21 Legacy and is a top-producing and CENTURY 21 Hall of Fame agent. “He’s just as solid as his dad, too.”

    Jamie has a message to any brokers considering becoming a CENTURY 21 franchisee: “This is probably the number one move you can make for your business. The level of support is incredible, and the tools and systems will make a significant difference.” 

    Would he ever consider leaving the C21 family? Jamie admits that during one renewal, he did shop around with other brands, and he’s glad that he did.

    “It was an important business decision, so I wanted to make sure that I was making the right choice. And what I found just reinforced that I was in the right place. There was no comparison, so I ran back and renewed. I didn’t really realize how far ahead the C21 brand was, until I looked!”

    C21 Communications

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