Independence, collaboration, and global growth drive organization to success
CORFAC was formed in 1989 as a grassroots networking organization focused on the industrial and office sectors. It was an alternative to the trend of local and regional brokerage firms being acquired by publicly traded global providers and losing their local identity. Today CORFAC is the world’s largest network of independent commercial real estate brokers serving the office, industrial and retail markets, all rooted in their local communities.
Despite numerous market shifts and disruptions over the past three-plus decades, the common thread throughout CORFAC’s history has been a focus on intra-network collaboration while maintaining independence. Their clients enjoy their boots-on-the-ground perspective that is backed by a global network.
“The last five years have been some of the most economically and societally tumultuous in CORFAC’s history, yet our members have stood strong together,” said 2024 president David Boyd, CCIM, SIOR, principal of Boyd Commercial/CORFAC International in Houston. “Our global network combined with local expertise and deep relationships brings value to CORFAC members and clients alike.”
CORFAC has shown continued growth in membership and referral activity. At its launch, CORFAC was established in about a dozen cities in the U.S. and Canada. In 2024, the network has 75 member offices in North and South America, Europe, the Middle East, and Asia – including a steady presence in the mid-Atlantic U.S. In addition, the average tenure of a CORFAC firm exceeds 15 years.
The leaders of five non-competing brokerage firms first discussed an independent network during an SIOR conference. The idea was to create a network of people who knew each other and could share information. To keep the focus on serving their clients, members were not obligated or incentivized to refer business to one another. Over the years, the regular connections between CORFAC members have led to many cross-market referrals and intra-network deals.
“We aimed for the expertise and experience of a larger global professional network, but remained nimble enough that we could easily share information and collaborate on deals,” said CORFAC founding member Charles B. King Jr., SIOR, president of King Industrial Realty, Inc./CORFAC International, Atlanta, GA. “Our biannual conferences and regular committee meetings allow us to build trusted relationships for cross-market referrals.”
Today, CORFAC offices collectively close an average of 10,000 lease and sales transactions valued at more than $10 billion annually, totaling 750 million s/f closed and managed worldwide.
Yet, what most members will highlight about being part of CORFAC is the camaraderie and collaboration between members and the opportunities to excel together, including two conferences each year that rotate between member cities and numerous opportunities for formal and informal information-sharing throughout the year.
“Being a CORFAC member really helped our firm in terms of developing young people,” said Dan Dokovic, SIOR, principal of Intelica / CORFAC International in Missouri. “There’s just a lot of good talent here and talent sharing. We’re in the people business. If people are working with people they love, it really creates magical moments.”
Establishing a network of people who are acquainted and able to exchange information is the goal. To emphasize on customer service, members are not compelled or encouraged to refer businesses to each other. happy wheels