Century 21
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History
Century 21 Real Estate Corporation began in 1971 in Orange County, California, created by real estate brokers Art Bartlett and Marsh Fisher. Growth was rapid for the CENTURY 21 System. Within four years, combined sales of all CENTURY 21 companies topped $1 billion. In 1977, the company went public and began reacquiring the independently owned regions, originally sold as “master franchises.”
Three years later, an approved merger between the company and TransWorld Corporation occurred, and in 1985, Metropolitan Life Insurance Company purchased the company. During the 1980s and early 1990s, Century 21 Real Estate Corporation became the first franchised real estate organization to create a quality service program, and the company continues to systematically survey buyers and sellers who use a CENTURY 21 broker or sales associate.
In 1995, Hospitality Franchise Systems, Inc. (HFS) acquired the corporation, and two years later HFS merged with CUC International to form Cendant Corporation (NYSE: CD). Century 21 Real Estate Corporation remains an indirect subsidiary of Cendant Corporation.
During its 33-year history Century 21 Real Estate Corporation has developed a significant international presence, beginning in April 1975 when Canada became the first international region. Global expansion in the succeeding years brought the company into 34 more countries and territories, including the United Kingdom, Ireland, Mexico, Hong Kong, the Philippines, and Spain. More than 50 percent of CENTURY 21® franchises are now located outside of the United States.
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