ERA Real Estate, a leading real estate franchisor, today announced the signing of a master franchise agreement with Eurocapital JSC, the property arm of Eurocapital Group, a private investment company based in Vietnam, which will now do business as ERA Vietnam.
"We are proud to add ERA Vietnam to our international portfolio," said Sue Yannaccone, president and CEO of ERA Real Estate. "As a global company, we are continuously seeking to increase our footprint and this latest agreement fortifies the presence of the ERA franchise system in the Asia-Pacific region."
ERA Vietnam is now one of eight markets in which ERA Asia-Pacific operates, joined by Singapore, Japan, Korea, Taiwan, Thailand, Malaysia and Indonesia.
Jack Chua, chief executive for ERA Asia-Pacific, said, "Vietnam is an up and coming country that saw tremendous growth in home sales last year, due in large part to government measures to improve urbanization."
According to Tuan Thanh Pham, chief operating officer of ERA Vietnam, the brokerage operates three ERA-branded real estate offices with 150 affiliated sales associates serving Ho Chi Minh City. He anticipates the ability to tap into the area's growth potential with expansion plans targeting Hanoi and Da Nang.
Chua also noted that ERA Vietnam will benefit from strong referral channels with its ERA operations in Singapore, a popular target for Vietnamese residents purchasing properties abroad.
Eurocapital is one of Vietnam's leading real estate brokerage, consultancy and investment advisory companies, and was responsible for nearly $90 million in sales volume in 2016. As an ERA-affiliated operation, the local team will benefit from the proven professional development programs of the ERA system that focus on increasing productivity to fuel growth.
"ERA Real Estate was the first residential real estate brand to expand internationally, when ERA Japanwas established in 1981, quickly followed by its expansion into Singapore in 1982, then Taiwan and Indonesia in 1991," said Yannaccone. "As stalwart brand ambassadors, our Asia-Pacific affiliates have played an integral role in shaping the brand's enduring reputation around the globe and we are excited to welcome ERA Vietnam to our international network."
ABOUT ERA REAL ESTATE
The ERA Real Estate system is an innovative franchising leader in the residential real estate industry with 45 years of experience in developing consumer-oriented products and services. The ERA network includes more than 37,000 affiliated brokers and sales associates and more than 2,350 offices throughout the United States and 30 countries and territories. Each office is independently owned and operated. ERA Franchise Systems LLC, which operates the ERA Real Estate system, is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global provider of real estate services. ERA Real Estate information is available atwww.ExploreERA.com.