International

Re/Max expands into Japan with signing of master franchise agreement

International real estate brand now in 97 countries

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 July, 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 lau...