Published 3 December 2012
Michael Davoren, who headed LJ Hooker’s New Zealand business for 2 years until 2006, and 2 partners have carried out a management buyout of RE/MAX’s Australian & New Zealand master franchises.
The new owners plan to double the number of offices in New Zealand in the next 5 years.
From today, ownership is the hands of a group that includes regional director Chris Chapman, Australia & New Zealand managing director Mr Davoren and Australian franchise director Keith Walker.
The ownership structure byRE/MAX Australia Franchising (1) Pty Ltd is through Nova 2012 Ltd, incorporated a fortnight ago.
The New Zealand master franchise had been held by the RE/MAX head office in the US. Dave & Gail Liniger founded RE/MAX in Denver, Colorado, in 1973 and still lead it. They set up the New Zealand franchise in 2003 and its headquarters will remain in Ellerslie.
Mr Davoren said the ownership change would intensify the focus for the local brand, which has 47 offices and a sales force of 360: “RE/MAX is already number one in Wellington by sales and we know we can make big inroads in other markets as well.
“Our new ownership team & entire regional staff is committed to bringing a new energy & excitement to our work. It’s the best of both worlds – local ownership that has the support & resources of the world’s largest real estate company behind it.”
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Attribution: Company release, story written by Bob Dey for the Bob Dey Property Report.