ERA Real Estate, a leading real estate franchisor, today announced the signing of a master franchise agreement with independent real estate developer Can Eksioglu to expand the ERA® brand into Turkey.
“We are proud to add ERA Turkey to our international portfolio,” says Charlie Young, 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 Europe.”
Based in Istanbul, Eksioglu will implement strategies to grow the ERA network of brokers and agents within the country. Analysis of data from the Turkish Statistical Office and the Turkish Central Bank indicates there are approximately one million residential real estate transactions closed annually in Turkey, with only an estimated 30 percent of residential transactions closed via a broker. This presents a sizable opportunity for brokers and agents to fulfill a need.
“We are pleased to welcome Can Eksioglu to the ERA Europe team,” addsFrançois Gagnon, president of ERA Europe. “His business experience as well as his knowledge of the Turkish real estate industry will bring significant value to this market, one of the largest in our group. We look forward to a very successful ERA Turkey.”
The International Monetary Fund reported that Turkey’s economy grew at 8.5 percent in 2011, second only to China, which experienced a growth rate of 9.2 percent. With a population of more than 70 million, Turkey’s Generation Y group accounts for 40 percent of that population, signaling future growth potential for the housing market.
“Residential real estate purchasing is on the rise and represents a positive growth opportunity for the ERA system’s global presence,” says Young. “The country has a quickly growing economy, a large number of up and coming home buyers and a promising housing market. It is a great strategic fit for our brand.”
For more information, visit www.era.com.
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