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Cutler Extends Lifeline to Displaced Realtors
Real estate is a competitive industry, but it is also known for its strong sense of camaraderie. At the end of the day, everyone has the same goal: Superior results for clients. When changing market conditions led to the closure of Corcoran Global Living in Columbus, colleagues at Cutler Real Estate took action.
The changes at Corcoran were sudden and unexpected, affecting more than 100 Realtors as the brand withdrew its franchising agreements in the Buckeye State. The December timing meant affected staff were facing the holidays without their client relationships or a clear path to their career future.
What's more, many former Corcoran Global Living Realtors were in limbo over recent commission pay.
Inside Cutler Real Estate, the mood was unanimous. Something had to be done—fast.
Cutler's Safe Harbor Guarantee Extends Lifeline
Under Cutler Realty's 45-day Safe Harbor Guarantee program, 114 Realtors impacted by the closures can close outstanding deals honoring the compensation agreements they held under Corcoran Global Living. All new business written will also follow their established compensation plan for the full 45 days.
At any time within the 45-day period, enrolled Realtors will have the opportunity to pursue a permanent position with Cutler Real Estate. Should they choose to strike out on their own instead, they'll have the chance for a fresh start—with a full, penalty-free release of all their listings and pending transactions.
Corcoran Global Living began its Columbus-area franchise in 2021. Operating as an independent affiliate of The Corcoran Group, it had a workforce totaling more than $250 million in sales volume at the time of the December 2022 announcements. All affected personnel are urged to contact Cutler Real Estate.
"Unprecedented" Program Is Part of Cutler Real Estate's Business Vision
With more than 75 years of experience in and around Columbus, Cutler Real Estate prides itself on showing people the simple way home. No doubt the Realtors drawn into this situation could have landed on their feet, but there was simply no way the Cutler team would turn its back on them in the holiday season.
Cutler Real Estate President Andy Camp said supporting these colleagues in their time of need is a "no-brainer." Moreover, "We're offering them 45 days safe harbor at a historically stable company." Taking the role of a temporary pass-through broker, Cutler Real Estate will not levy any processing fees on transactions from former Corcoran employees.
"My hope is that it will give these agents peace of mind amid the chaos," said Camp.
Real estate is a fast-moving industry with a lot of innovation, but there's no evidence any brokerage or agency has ever offered something quite like the Safe Harbor Guarantee. At Cutler Real Estate, it's not just about growing the business but doing right by others—including those in the industry.
With a fresh infusion of experienced, motivated talent, things are looking up for Cutler Real Estate in the new year. Knowing what the future holds has helped the local real estate community ring in 2023 with a greater sense of hope and optimism, too.
Want to know more? Columbus Business First reported the details of the program.
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