The Corcoran Group is expanding its footprint in the Caribbean, launching its first affiliate brokerage in the Cayman Islands, the company said on Tuesday.
The new Corcoran Cayman Islands will be owned and led by Paul Young.
“Our presence in the Caribbean is extremely important as we continue to grow our global footprint, and this arrival into the Cayman Islands is no exception,” Pamela Liebman, the president and CEO of the Corcoran Group, said in a statement. “I’m pleased to welcome Corcoran Cayman Islands to our robust network and I’m confident that they will help us attract more U.S.-based buyers to the region.”
The firm, which was formerly known as Prime Locations Cayman, was founded in 2016 by Young.
Originally from Canada, Young began his career in sale-oriented industries in the 1980s. Since then, he has helped with several startups and worked with many local developers in the Cayman Islands. He is also the sole shareholder and a member of the Cayman Islands Real Estate Brokers Association since 2002.
“The Cayman luxury property market, as well as our high quality of life and infrastructure, position us as one of the premier destinations for Caribbean real estate,” Young said in a statement. “We look forward to introducing clients to the many compelling opportunities now available through the wider Corcoran network.”
Located in the western Caribbean Sea, the Cayman Islands is a British territory made up of three islands. It is known for its consistently ideal weather, beach resorts, scuba activities and deep sea fishing excursions. In addition, the Cayman Islands is recognized as the birthplace of recreational diving in the Caribbean and is a popular destination for diving vacations.
Other big-name franchise brokerages in the Cayman Islands include Coldwell Banker, RE/MAX, Sotheby’s International, Century 21 and Engel & Volkers.