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RE/MAX expands into ChinaReal estate leaders add 90th country to global footprint
RE/MAX has sold franchise rights for China including the Mainland, Hong Kong and Macau, raising its overall country count to 90 - a larger global footprint than any other franchised real estate company.
The new RE/MAX China ownership group is based in Hong Kong and has extensive experience in real estate, banking, financing and franchising. They are perfectly positioned to aggressively grow the RE/MAX organisation throughout the country of roughly 1.3 billion people.
RE/MAX welcomes China to an expansive global footprint that reaches throughout Europe, South America, Africa, Australia and beyond. Because consumers around the world recognise the RE/MAX name, the company also enjoyed a successful launch of www.global.remax.com last October. The site now features nearly 750 000 property listings in 31 languages and 30 currencies. In 10 months, the site has gained in popularity, attracting more than 1.3 million unique visitors; 25% have been from China.
The group plans to officially open the first RE/MAX offices in China in the first quarter of 2013.
RE/MAX also opened Morocco, Thailand and the Philippines in 2012, a year in which the company has seen 300 worldwide franchise sales during the first six months. South Africa has seen a 75% increase in franchise sales from 2011, Canada a 21% rise and Europe an increase of 13%.
Peter Gilmour, Chairman of RE/MAX of Southern Africa, says that China, along with the other BRICs countries, are considered to be the major developing economies in the world. He says that in March this year it was reported that the BRICS countries were responsible for about 18% of the world's GDP and were home to 40% of the earth's population.
"South Africa's inclusion into the BRICS group firmly puts it on the map as Africa's leading economy and as a future global economic leader. Aside from the anticipated sharp rise in the economies of the countries that are a part of BRICS in the near future, for South Africa, the future holds great potential as one of the top ten advanced emerging markets. PricewaterhouseCoopers also expects South Africa to be the world's seventh-fastest growing economy up to 2050, with growth averaging 5%, as reported in The Economist earlier this year.
While the real estate market has remained fairly flat, RE/MAX of Southern Africa has flouted national sales trends with 21 RE/MAX franchises sold so far this year and more than 250 agents who have joined the brand due to the value proposition it offers. "While challenging conditions have prevailed during the first half of 2012, RE/MAX of Southern Africa has also seen a marked increase in the number of property sales achieved per agent, reporting a 12% increase on registered sales in the first half of 2012 compared to the first half of 2011, which far outstrips the national average of less than 5%," Gilmour concludes.