RE/MAX Move Into Ecuador And Uruguay To Benefit Chicago Real Estate And Illinois Real Estate Markets

RE/MAX International has established operations in the South American nations of Ecuador and Uruguay, and now has nearly 7,000 offices in more than 70 countries and territories, an international presence greater than any of its competitors. The expansion is expected to also benefit Illinois real estate and Chicago real estate markets.

The two new regions extend the RE/MAX presence in South America. RE/MAX already has franchises operating in Argentina, Chile and Venezuela.

Ecuador and Uruguay are on opposite sides of South America. Ecuador is on the Pacific coast bordering Columbia and Peru. It has a population of 13 million. Uruguay is on the Atlantic coast bordering Brazil and Argentina. It is home to 3.46 million people, almost half residing in the capital, Montevideo.

“We look forward to a strong RE/MAX presence in both Ecuador and Uruguay and know that the training, education and brand name recognition we provide will attract both professional agents and clients,” said William Soteroff, senior vice president of international development at RE/MAX International.

According to Jim Merrion, regional director of the RE/MAX network in northern Illinois, the opening of RE/MAX operations in Ecuador and Uruguay is another positive step toward the realization of a global real estate market.

“There are strong ties between the United States and Latin America, and that is especially true for the Chicago real estate market with our growing Latino population. We embraced the expansion of RE/MAX in South America because transnational real estate activity continues to be a critical and growing factor in the Illinois real estate market,” said Merrion.

Brothers Esteban and Antonio Serrano purchased the rights for RE/MAX Ecuador, which will be headquartered in Quito, the capital of the Republic of Ecuador.

“We’re excited for the opportunity we have to bring RE/MAX to Ecuador and to make a positive contribution to the development of the real estate industry here,” said Antonio Serrano, whose family has been involved in real estate for nearly 30 years. “RE/MAX is a perfect fit for the region and the power of the RE/MAX brand will help others who share our vision to sell real estate.”
Ricardo Sarniguet and Juan Carlos da Silva purchased the rights for RE/MAX Uruguay, which will be headquartered in Montevideo.

“When you own a RE/MAX franchise office, the world automatically knows you and the brand starts working for you on day one. We strongly believe that RE/MAX will be a great asset to the professionalism of the real estate market in our country,” said Sarniguet.