RE/MAX International announces expansion into Central America

RE/MAX Caribbean plans to open 20 offices in Central America

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--Aug. 3, 1995--W. Patrick Murphy, president, CEO, CCIM of RE/MAX Caribbean Inc., the largest real estate franchise network in Puerto Rico and the Caribbean Islands is taking its same successful concept into Central America.

Murphy has acquired the regional RE/MAX franchising rights for the new expansion area.

With its regional headquarters in San Juan, RE/MAX of the Caribbean Inc., has begun to market RE/MAX franchises to brokers throughout Central America. The future plans include a District Service Center in San Jose, Costa Rica. The first office, RE/MAX Asfisa, started by Marita Lopez, is already in operation in Costa Rica.

RE/MAX International Inc., is a leading real estate organization with offices in the United States, Canada, the Caribbean, Mexico, Eastern and Western Europe, and Southern Africa. RE/MAX plans to open an additional 15 to 20 offices in Central America in the next six to nine months.

"RE/MAX Caribbean is continuing its plan to revolutionize the real estate industry by expanding into Central America. We will bring the same level of success and quality that RE/MAX has instilled in all of its offices around the world to this untapped market." said Murphy.

According to Murphy, three RE/MAX franchises are currently under negotiation. "Out of the seven countries in the Central American region we have already seen interest for offices in El Salvador, Honduras, and Panama."

RE/MAX Caribbean, Inc., has 11 offices in operation in San Juan and other parts of Puerto Rico, and 17 offices on the nearby islands ranging from Nassau, Bahamas, to Aruba. "By December 1995 we plan to have offices in all of the Caribbean Islands. The RE/MAX system works because we offer a high commission structure, a powerful and effective marketing program and the freedom to be in business for yourself but not by yourself. With this incentive and support, we offer home sellers and buyers unsurpassed service and results," said Murphy.

One of the largest real estate organizations, RE/MAX International has flourished with an entrepreneurial environment and high-caliber sales force. In 1994, RE/MAX Sales Associates touted an average of over 11 years real estate experience. Compared to the average real estate agent, a significantly greater percentage of RE/MAX Sales Associates hold advanced real estate designations and certifications.

RE/MAX International was founded in 1973. Its network of more than 41,000 Sales Associates in 2,500 offices provide residential and commercial real estate, relocation, real estate referral, and asset management services.