CENTURY 21 Announces Blockbuster Master Franchise Agreement for South America.PARSIPPANY, N.J.--(BUSINESS WIRE)--May 28, 1998-- International Franchise Counseling Initiated to Drive Success Upward in Previously Untapped South American Territory Century 21 Real Estate Corporation, franchisor of the world's largest residential real estate sales organization, has announced that a blockbuster block·bust·er n. 1. Something, such as a film or book, that sustains widespread popularity and achieves enormous sales. 2. A high-explosive bomb used for demolition purposes. 3. master franchise agreement has been signed to develop CENTURY 21(R) offices throughout South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . The agreement, which was entered into by developers Phil Yeager and Bo Wallsten, calls for the rapid expansion of the CENTURY 21 brand throughout the continent. The partnership projects office openings in Venezuela, Argentina, Chile and Columbia within the year. "Mr. Yeager, Mr. Wallsten, and their management staff of experienced real estate professionals have a proven track record of accomplishment in the franchise business," stated Robert Moles Moles Definition A mole (nevus) is a pigmented (colored) spot on the outer layer of the skin (epidermis). Description Moles can be round, oval, flat, or raised. They can occur singly or in clusters on any part of the body. , President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Century 21 Real Estate Corporation, noting that the key players in the Yeager/Wallsten organization share more than 100 years of real estate experience. "With this group at the helm, I am highly confident that CENTURY 21 in South America will grow by leaps and bounds over the next few years. This landmark agreement will serve to reinforce the CENTURY 21 System's position as the world's largest residential real estate sales organization as we head into the 21st century." The CENTURY 21 System is well-known terrain to Yeager and Wallsten. Yeager's affiliation with the System began in 1972, when he and his brother acquired the CENTURY 21 franchise rights for a portion of Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , which eventually consisted of 200 offices and 5,000 salespeople sales·peo·ple pl.n. Persons who are employed to sell merchandise in a store or in a designated territory. . In 1976, the Yeagers acquired a second region in the American Northwest (Oregon, Washington and Idaho), which also grew to 200 offices and 3,500 salespeople. In 1989, the Yeagers partnered with Bo Wallsten and Duane Christie and acquired the master franchise rights for Mexico. To date, they have opened 110 offices there. Such expertise has led the partnership establish International Real Estate Franchise Consulting Franchise consulting, a specialized category of professional assistance for investors, entrepreneurs, and enterprises, is a field which has arisen from the increased popularity and profitability of franchising. (IRFC IRFC Indian Railway Finance Corporation Ltd IRFC Initial Response Force Commander ), which places counselors on-site at international franchise locations and guides them for their first year of operation. The counselor is responsible for training the franchise's staff to run the regions. Counseling is offered on three levels: structuring and running the region for developers, management development for brokers, and career path for associates. A consulting agreement allows IRFC to check in with the franchise's field offices every six months to review operations and offer recommendations as necessary. "This is a complete training program," added Wallsten. "The consultation and follow-up programs offered by our firm provide unmatched outside guidance, which is invaluable when investors are launching an international franchise." Consulting agreements are currently in effect with CENTURY 21 Spain and CENTURY 21 Central America Central America, narrow, southernmost region (c.202,200 sq mi/523,698 sq km) of North America, linked to South America at Colombia. It separates the Caribbean from the Pacific. and will be used in South America. Century 21 Real Estate Corporation is the franchisor of the world's largest residential real estate sales organization, with more than 6,300 independently owned and operated franchised broker offices in more than 25 countries and territories worldwide. Century 21 Real Estate Corporation is a subsidiary of Cendant Corporation (NYSE NYSE See: New York Stock Exchange : CD).
CONTACT: Laurie Quinn
Century 21 Real Estate Corporation
(973) 496-5150
laurie.quinn@century21.com
or
Philip Yeager
IRFC
(909) 987-2100
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion