RE/MAX Australia and New Zealand is under new ownership, with three of the group's existing senior management staff buying the regional franchise.
The team features existing RE/MAX managing director Michael Davoren, Keith Walker, the current RE/MAX Australia franchise director, and Chris Chapman, the current RE/MAX New Zealand regional director.
The RE/MAX Australia franchise, which has more than 70 offices and finished ninth in this year's Real Estate Business Top 20 Real Estate Groups ranking, incorporates all of the country’s states and territories excluding Western Australia, which is separately owned and operated by Geoff Baldwin.
Mr Davoren has served as president of both the Real Estate Institute of Australia (REIA) and the Real Estate Institute of Queensland (REIQ).
“In our new role as both owners and operators, based on our strong understanding of the national real estate industry, we’ll be able to take a business model that has been successful around the world and tailor it to the specific interests of our Australian consumer,” said Mr Davoren.
The new RE/MAX Australia region will continue to be managed from its headquarters in Milton, Qld.
The Real Estate Institute of Queensland (REIQ) said it welcomed the acquisition by a local ownership group of the RE/MAX Australia region master franchise from the global franchisor.
REIQ CEO Anton Kardash said Mr Davoren and his team had ample experience for the task.
‘‘We welcome the new local owners of the RE/MAX Australia region and believe their commitment to quality and best practice will continue to stand the real estate profession in good stead,’’ he said.
Mr Davoren, who was appointed as managing director in November last year, told Real Estate Business in May that the group was set to expand in Australia.
“We’re the largest [real estate group] in the world but not in Australia, and everyone knows that.”
He said part of the group’s message revolved around how they’ve evolved the company to suit the Australian market. “When a company is in 90 countries around the world, you’ve got to understand that it can’t be exactly the same model that works in the United States. So, we’ve evolved the brand and the structures, and now it’s a matter of getting that message out there.”