Industry NewsInternational

Re/Max sells Chinese franchise rights

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Real estate franchisor Re/Max has sold franchise rights for China, including the mainland, Hong Kong and Macau, to an unnamed ownership group based in Hong Kong.Re/Max says the new Chinese franchise owners recently visited the company's headquarters in Denver, and were recognized during a formal flag-raising ceremony."They expressed a desire to expose Chinese consumers to Re/Max because of the value of the brand and the professionalism it represents," Re/Max said in announcing the deal.For competitive reasons, the ownership group has elected to remain anonymous until it returns to the U.S. in October for further franchisee training, Re/Max spokesman Shaun White said. Re/Max plans to release more details on the Chinese ownership group and its specific plans at that time, he said.Founded in 1973, Re/Max has franchisees in more than 85 countries, with a global footprint that includes Europe, South America, Africa and Australia.Last October, Re/Max launched an international listi...