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Keller Williams is growing its presence in South America with the launch of a new master franchise in Santa Cruz, Bolivia, according to an announcement late Thursday. The Texas franchisor also has 17 offices in Argentina, Brazil, Colombia, Guyana, Paraguay, Peru, Suriname and Uruguay.
“Continuing our robust global growth, we are excited to announce KW Bolivia, our 10th master franchise in South America,”Keller Williams Worldwide President William E. Soteroff said. “Across the world, we are where real estate entrepreneurs thrive.”
“With the addition of Bolivia, we can now claim a strong and growing presence in the top five largest countries in South America,” he added.
The master franchise is slated to open during the third quarter of 2022, with Regional Operating Principal Carlos Andres Cordova spearheading the launch strategy. Cordova is a well-known real estate developer in the country who owns two residential and land development companies, Crystal Lagoons and Todo Lotes.
“The Bolivian market is very competitive,” he said in a prepared statement. “We believe that KW Bolivia’s main advantage will be the model of interdependence with agents, which will keep competition at bay.”
He added, “KW offers a fresh, new way of conducting business through caring for the agent’s success and well-being while making them part of the decision-making process; that is surely a win-win for all involved.”
The launch of KWW Bolivia comes on the heels of a strong second quarter for KW’s international operations, which saw agent count, transactions, sales volume and projected closings grow by the double digits.
Between April 1 and June 30, the agent count outside the U.S. and Canada increased 21.8 percent year over year to 16,304. Although new listings growth slowed to 3.1 percent annually, KWW agents closed 19,900 transactions (+31.6 percent) worth $4 billion in sales volume (+39.3 percent).
Agents currently have 23,100 projected closings (+33.6 percent) worth $3.4 billion (+33.4 percent).
The massive real estate franchisor now has 285 market centers across 50 regions representing more than 14,000 agents.