RE/MAX has been voted the best real estate franchise by US-based Entrepreneur magazine.
The list, which appears in the magazine’s January issue, had Hampton Hotels ranked as the best franchise overall for the third year running.
Entrepreneur said the 500 companies that made its ranking added 19,197 franchise units between 2011 and 2012, almost double the previous year's growth.
RE/MAX Western Australia managing director Geoff Baldwin said this is the tenth time in the last 14 years that RE/MAX has won the honour of being the highest ranked real estate franchise in the survey.
Mr Baldwin said Entrepreneur’s franchise ratings are based on financial strength and stability, growth rate and size, and start up costs.
“In the US, RE/MAX leads the industry in per-agent productivity and has number one market share,” he said. “RE/MAX is the highest selling real estate brand in the world and we are intent on duplicating this success in Western Australia, and we are currently among the fastest growing brands in this state.”
Vinnie Tracey, president of RE/MAX International, who was recently in Australia, told Real Estate Business in an exclusive interview that the combination of a new ‘entrepreneurial’ leadership team based locally should spark strong growth for the franchise group in Australia and New Zealand.
“There’s nothing like an entrepreneur who has their own finances and life savings on the line,” he said in relation to the decision by RE/MAX Australia managing director Michael Davoren, Keith Walker, the current RE/MAX Australia franchise director, and Chris Chapman, the current RE/MAX New Zealand regional director, to purchase the Australia and New Zealand RE/MAX regional franchises from RE/MAX's head office.
The RE/MAX WA franchise is owned separately by Mr Baldwin.