US Shark Tank real estate queen expands luxury estate agency chain to Portugal

The US luxury estate agency Corcoran is coming to Portugal in a partnership with Vanguard Signature and ABN Souza Investmentos.

The two companies comprise Everstone and will exclusively represent the US brand created in 1973 by Barbara Corcoran, an investor who gained international fame in the US on the TV show Shark Tank in which fledgling entrepreneurs had to face a grilling from investors like Barbara to get investment for their projects with the famous catchphrase “I’m in” or “I’m out”.

José Cardoso Botelho, CEO of Vanguard Signature said that Corcoran’s expansion to Portugal had to be seen in the light of the growing demand for Portugal by US citizens.

“Portugal is a country that they value for reasons such as security and an American coming here is going to feel more at home with a brand that they are used to seeing”, he said.

Everstone’s strategy through Corcoran is to strengthen its position and investment in the premium and luxury real estate sectors, believing that this is a segment with a high growth potential.

With 2.3 million American tourists, the US is the third largest overseas market for hotel and accommodation guests in Portugal, only behind the United Kingdom and Spain.

The direct flight that United will operate from May, between Faro and New York, will increase the connectivity between the two countries.

“There is a lot of demand for Portugal within the Corcoran network of luxury estate agencies in the US”, said José Cardoso Botelho.

In Portugal, Corcoran will “sell Vanguard assets and those of third parties” and will consist of “flagship real estate developments from both developers and private individuals”.

The luxury real estate agency will open offices in Lisbon and later expand to Comporta, Algarve, Porto and Madeira bringing its famous slogan “Live Who You Are” to Portugal.

The brand’s entry into Portugal “Combines a highly specialised service with the accumulated experience that the brand has in some of the world’s most demanding markets”, says José Cardoso Botelho.

Everstone which will have the rights to market and operate the Corcoran brand in Portugal, is 60% held by Vanguard Signature and 40% by ABNSouza Investmentos.

In the US Corcoran has a market leadership position in New York, Hamptons, and Palm Beach.

Photo: Ricardo Souza of ABNSouza & CEO of Century 21 (L) with José Cardoso Botelho, CEO of Vanguard Signature. (R)