RE/MAX, the real estate franchise brand, has announced the sale of master franchise rights for Kazakhstan and Uzbekistan. This is the first time the brand has sold any franchise rights in central Asia, and signifies the brand’s attempt to bridge the Asian-European markets.
“RE/MAX is thrilled to enter these two new markets. The more opportunities we have to expand the RE/MAX network into new countries and regions, the more opportunities we have to connect people,” said Shawna Gilbert, RE/MAX vice president, global growth and development.
“This is a business of relationships and we are a proud global community. Business does not stop at borders, and these expansions help affiliates professionalize and revolutionize their local real estate industries, while advancing careers and helping individuals and families find a community of their own. It really comes full circle.”
The brand has sold its Kazakh master franchise rights to NEU Ltd., owned by Batjargal “Batyr” Bazarsuren, a Kazakhstani entrepreneur. The Uzbeki rights have been sold to Safa Karaduman, an Uzbekistani entrepreneur.
“This is an exciting time for us, as we have signed our master franchise agreement with worldwide real estate franchisor RE/MAX, LLC. We’re proud to launch a globally known real estate franchising brand in Kazakhstan and look forward to the many opportunities to come,” said Bazarsuren.
As one of the first international real estate franchise brands in Kazakhstan, RE/MAX will play a central role in raising the country’s portfolio and attracting investors and a global clientele. Bazarsuren seeks to bring new standards to the industry and establish RE/MAX across the country.
Karudman, the owner of the master franchise rights in Uzbekistan says the real estate in his country has opportunities to improve too.
“Uzbekistan is one of the world’s fastest developing countries, and it is transforming into an open economy with a fast-growing working-age population,” said Karaduman.
“Uzbekistan’s economy is reliable, and housing projects are flourishing, but our real estate industry as a business needs a better reputation. I believe the RE/MAX system, backed by global experience and a reliable brand reputation, will help transform our real estate market and help us position ourselves as the archetype of real estate business.”
“It’s an incredible honor for RE/MAX to be the first international real estate franchisor in these countries,” said Gilbert.
“Homebuyers and sellers are served best by agents and networks who can relate and have shared experiences to them. The more places we reach, the more people we will touch.”