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Luxury brokerage The Agency is debuting its second European market with a new franchise office located in Lisbon, Portugal, the brokerage revealed to Inman.
In 2022, the brokerage launched its first-ever franchise office in Europe in The Netherlands last May. The Portugal office marks the company’s 74th franchise, to be led by Managing Partner Ayres Neto.
“We’re thrilled to expand our presence in Europe with the launch of our new franchise in Portugal,” The Agency CEO and founder Mauricio Umansky said in a statement. “Ayres Neto is one of the most celebrated real estate authorities in the country of Portugal, and we are confident that he will serve as an incredible steward of our brand and culture as we enter this dynamic and sought-after market.”
“We are delighted to partner with Ayres Neto as we bring The Agency to the beautiful country of Portugal,” Jim Ramsay, executive vice president of franchise sales at The Agency, added. “Our continued growth in Europe is a true testament to the increased demand and need for a luxury boutique brokerage with global reach like The Agency.”
Neto was born and raised in Brazil and is a trilingual speaker of Portuguese, Spanish and English. Neto also spent about 20 years combined living in Argentina and the U.S. before moving to Lisbon in 2017.
Since relocating, Neto has held affiliations with Century 21 and Coldwell Banker, and has achieved numerous sales awards over the years, including gaining membership into Coldwell Banker’s President’s Circle, which recognizes the brokerage’s top 7 percent of sales associates across the globe.
Neto’s team of agents at The Agency Portugal will represent more than a dozen countries who speak a total of 13 languages. When not working on his real estate business, Neto enjoys spending time with family, horseback riding on his farm, traveling and supporting the Jimmy Fund Foundation, a nonprofit that supports cancer research and patient care at Boston’s Dana-Farber Cancer Institute.
“I am honored to lead The Agency Portugal as we bring the power of The Agency brand to our country,” Neto said in a statement. “Given its unparalleled natural beauty, affordability and the tax benefits that come with relocating here, Portugal is such an incredible place to live, and it’s my privilege to help bring The Agency’s groundbreaking tools and technology to our market.”
Despite the recent slowdown and normalization of the real estate market at-large, The Agency has continued to expand into new territories in 2023, entering Nashville, Palm Beach and Bend, Oregon. Still, the luxury brokerage has not been immune to layoffs that have swept the industry in recent months. Last week, The Agency laid off approximately 4 percent of its staff, The Real Deal reported.