Re/Max Holdings Inc. has expanded into Japan, growing the newly public franchisor’s international presence to 97 countries.
The Denver-based firm, which netted $225 million last week in an initial public offering, has signed a master franchise agreement with Generation Group LLC to grow the franchise in the wealthy island country.
“We’re incredibly pleased to bring the Re/Max level of customer service to the current and future homeowners of Japan,” said Re/Max’s CEO Margaret Kelly in a statement.
Re/Max, which began doing business in South Korea in June, entered China and Hong Kong last year by selling master franchise rights to the region for $1.8 million, according to Re/Max’s S-1 registration statement.
In the latest rankings from Franchise Times, Re/Max retained its crown as the world’s largest real estate franchisor with $7.4 billion in global sales in 2012.
Coldwell Banker Real Estate, which entered India in September, and Century 21 Real Estate, which launched a multilingual, global site in September, ranked No. 2 and No. 3, respectively, with global sales of $4.5 billion and $4 billion.
Keller Williams Realty, the fourth-largest global real estate franchisor as ranked by Franchise Times, launched its first foray overseas when it entered Vietnam in September with its inaugural “master franchise” region.