Global real estate brand RE/MAX is set to double its size in Australia but Cairns principal Tony Williamson says residents will not be seeing more agencies in Cairns.

President of RE/MAX LLC Vinnie Tracey, from the US, announced the company had sold its Australian and New Zealand rights to a trio of Brisbane and Auckland-based partners this week.

Mr Tracey said it was a new era for the brand which has transferred its Australian and New Zealand franchise to managing directors Michael Davoren, Keith Walker and Chris Chapman from the New Zealand Regional Office.

Cairns-based Mr Williamson said the move would foster local knowledge under the global brand.

“It's still early days but we believe it will be a lot more beneficial for us,” he said.

“The way they sell real estate in America is a lot different to how you sell in Australia.

“A lot of the American stuff is not applicable to our markets.”

Mr Williamson said principals will no longer have to report to the RE/MAX global head office in Denver, Colorado.

“(The announcement) was massive news, it caught us by surprise.

“From our point of view it's business as normal but it will give us a lot more local content we can access.

“The Australian owners have got ownership so they will have to make sure RE/MAX performs at an Australian level.”

While the new owners are hoping to double the business to 250 offices in Australia and New Zealand and 2000 real estate agents, Mr Williamson said he has the exclusive rights for RE/MAX in the Cairns Regional Council area.

“While I will welcome the new offices in Australia they won't be in Cairns,” he said.

Managing director Michael Davoren said US owners had realised there was a need for structural change in the Australian real estate market.

“Our plans will become far more obvious over the coming months but the actual goal is that in five years time we want to double the size of the number of offices in Australia and New Zealand and the agents we have in those offices,” Mr Davoren said.

In 1997 the rights to RE/MAX Australia was sold to a local entrepreneur but RE/MAX America bought it back after the investor struck financial trouble about four years later.

 

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