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RE/MAX INTERNATIONAL PLANS EXPANSION TO CARIBBEAN; FASTEST GROWING REAL ESTATE ORGANIZATION REVOLUTIONIZES INDUSTRY

          RE/MAX INTERNATIONAL PLANS EXPANSION TO CARIBBEAN;


FASTEST GROWING REAL ESTATE ORGANIZATION REVOLUTIONIZES INDUSTRY
    HATO REY, Puerto Rico, Dec. 23 /PRNewswire/ -- RE/MAX International, the fastest growing real estate organization in North America, announced today plans to expand its network to Puerto Rico and the Caribbean Islands.
    With its regional headquarters in Hato Rey, Puerto Rico, RE/MAX of the Caribbean Basin, Inc., will begin immediately to market RE/MAX franchises to brokers throughout Puerto Rico and nearby islands.
    W. Patrick Murphy, chief executive officer of RE/MAX of the Caribbean Basin, Inc. owns the regional RE/MAX franchising rights for the new expansion areas.
    "RE/MAX is ready to revolutionize the real estate industry in Puerto Rico and the rest of the Caribbean.  We will bring the same level of success and quality that RE/MAX has instilled in the U.S. and Canada over the past 18 years to this untapped market.  RE/MAX has created an ideal environment for the most talented and successful real estate professionals where they are the most productive and profitable," said Dave Liniger, co-founder and chairman of RE/MAX International.
    According to Murphy, two RE/MAX franchises currently operate in St. Thomas and on Grand Cayman.  "These two offices have shown tremendous growth despite the slow market.  Six offices are expected to open in Puerto Rico by the first half of 1992.  We'll have more than 20 franchises in Puerto Rico and more than 130 offices established throughout the Caribbean basin within the next five years," he said.
    Despite the slow real estate market, RE/MAX International has continued to increase revenues and gain market share.  In fact, 1991 revenues are estimated to increase by more than 12 percent, while the competition has suffered shrinking revenues and sales forces.
    According to a recent annual survey by "REAL Trends," an independent industry publication, RE/MAX was the only major U.S. real estate franchise organization to post a gain in transactions sides in 1990. RE/MAX increased its transactions by 8.1 percent over 1989.
    "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.
    In 1990, the average RE/MAX Sales Associate closed nearly 24 transactions, produced more than $2.3 million in volume and earned $69,000 in commissions.  The average real estate agent only earned $22,700 in commissions during the same period, according to the National Association of Realtors (NAR).
    RE/MAX Sales Associates also lead the industry in terms of experience and professional education and designations.  In 1990, the average RE/MAX professional had 2.5 times more experience and more professional designations such as CCIM, GRI and CRP, than the average NAR agent.
    RE/MAX of the Caribbean Basin, Inc. is part of RE/MAX International, Inc., the second largest real estate organization in the U.S. with more than 29,000 Sales Associates and nearly 2,000 offices.  The company, headquartered in Englewood, Colo., also provides relocation, insurance, real estate referral and asset management services.
    RE/MAX of the Caribbean Basin, Inc. is located at One Comptroller Plaza, 105 Ponce de Leon, Hato Rey, Puerto Rico.  The telephone number is 809-759-7600.
    -0-             12/23/91
    /CONTACT:  Scott Tangney of Lobsenz-Stevens, 212-684-6300, for RE/MAX International/ CO:  RE/MAX International ST:  Colorado IN: SU: FC-OS -- NY068 -- 4927 12/23/91 15:50 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 23, 1991
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