The global franchisor has opened its account in South America with a master franchise agreement in Paraguay.
“As a global leader in real estate with over 36,000 affiliated agents worldwide, we are thrilled to have found great partners to launch the ERA brand in Paraguay as our first master franchise in South America,” said Sherry Chris, president and CEO of ERA Real Estate.
“Francisco and Ernesto have a tremendous understanding of the Asunción market and where growth opportunities exist in the region and nationwide. Their partnership with Fortaleza allows them to represent properties that meet the needs of potential buyers.
“Francisco and Ernesto recognized that to expand in the Paraguayan market, franchising with ERA provided unique advantages to help build a successful company. We are excited to welcome ERA Paraguay to our Team ERA global network of real estate professionals.”
Rutland S.A. is led by CEO Francisco Manuel Gomez Mansilla and Ernesto Orosman Gomez. It will serve as the brokerage operations of Fortaleza, a nearly 30-year old development firm. Fortaleza has built properties such as Boggiani, Molas Lopez and Carmelitas, creating more than 750 housing units. It has a current pipeline of more than 8,500 apartments in the coming years.
“The real estate industry is considered dynamic. In order to succeed, you must be at the forefront. Paraguay has enormous potential and with the support from the ERA brand, we can quickly capitalize on the momentum that we are seeing in the region today,” said Francisco Manuel Gomez Mansilla, CEO of Rutland, S.A.
“Likewise, we were immediately drawn in by the innovative technology and supportive tools that ERA Real Estate had to offer. We knew it was exactly what our company needed. We understand where the industry is headed and we’re excited to go there with ERA Real Estate.”
The Paraguayan real estate market is enjoying a boom with both sale prices and the number of multi-family housing projects on the rise, and especially in the capital city of Asunción. There are 86,400 homeowners in the area and double the number of renters.
ERA Paraguay will build its flagship office in Asunción.