There are many advantages to operating under a well-established brand name. However, there are some hidden challenges that franchisees face, especially in small markets like ours, and there are twice as many unexpected challenges in the real estate brokerage business. Four years ago, the now-experienced broker Mariam Asatiani shared her ideas about developing the brokerage industry in Georgia and introducing a company under the management of Remax. The franchise idea worked well, and the numbers testify to this success. Remax Georgia started operating on the Georgian market in 2014, and in just four years, its franchise Remax Capital was recognized as the top performing brokerage among 7000 companies in more than 100 countries and was awarded second place among the REMAX offices in the world in commercial real estate transactions in 2017.
Our recipe for success is our focus on every detail relating to our customers. For instance, in order to properly select property for a vineyard, we studied the basics of winemaking. Just recently, in order to find suitable real estate for a currency-mining farm, we delved into the sphere of cryptocurrency,” said Asatiani. I was fascinated by these words and Asatiani’s obvious determination, and decided to look more closely into the activities of Remax Capital. This kind of approach has a major influence on the development of any company. Her dedication has paid off, and the Georgian franchise of this renowned company (founded in Denver in 1973) managed to gain a strong foothold in the Georgian market. In a very short period of time, the franchise has assembled an impressive portfolio of private, investment, residential and commercial real estate.
The company owes its growing success mainly to its complex approach and innovative vision united around one idea, as opposed to a standard policy that focuses on a single field. In addition to real estate sales, Remax Capital offers its customers consultation services. Each broker employed by the company has taken a special American training program provided by Remax, and therefore their professional qualifications are in compliance with international standards. When it comes to the company’s competitors, it is important to note that a lack of relevant knowledge and limited access to education are the most pressing problems in this sphere. It is far better to work with professionals who have received international-standard training, since a majority of other brokers are self-educated. The 45years of experience that the company has through its network, which spans more than 100 countries, reinforces its reliability.
Remax Capital is the only international company in Georgia that has operated for four years, offering its customers brokerage services for commercial and residential real estate sales. As noted above, consulting is one of the main services that Remax Capital offers, which is an integral component of any brokerage service.
Consultations are much-needed both for property owners evaluating their properties, preparing them for sale and positioning them in the right segment, as well as for buyers. Consulting includes, but is not limited to, selection of the desired location and property and identification of business expectations and KPIs, particularly for investment properties. Remax Capital offers its customers a wide range of services by positioning itself on the commercial and premium-class residential property markets. At present, 60% of the company’s real estate is commercial and investment property, and 40% is residential property. As for real estate rental, it is divided equally between commercial and residential properties. In addition to its customer-oriented and knowledge-based services, one of the top advantages of Remax Capital is its up-to-date technology, which the company gained through its integration with a multiple listing system. The MLS’ database and software enables local customers and brokers to access over 100 real estate markets around the world. Through this system, foreign investors can access the Georgian real-estate market from their own countries and read information in their native languages.
In light of local and foreign investors’ growing interest in Georgia in recent years, Remax Capital responded to demand by keeping its finger on the market’s pulse. Remax Capital noted that recent growth rate in the hospitality industry has been quite fast, and the company has accordingly expanded its sale and rental services in this sector. There is also growing interest in buying rental property in Georgia, which has an annual return of more than 8%, one of the highest figures in both the region and Europe.
The performance of Remax Capital in the real estate brokerage sphere is exemplary, with an annual growth rate of 30%-35%. The company’s achievements are notable not just in terms of the local market, but also in a global context – in 2017, Remax Capital was awarded second place in the top five Remax offices in the world for its performance in the sale and rental of commercial real estate. In addition to the prestige this award bestows on the Georgian franchise, it represents a significant indicator for the health of the county’s real-estate market. Remax Capital certainly has no intention of slowing its growth rate: on the contrary, the company has recently launched property management services, which means that in addition to the sale and rental of real estate, Remax Capital will be responsible for property maintenance, concierge and cleaning services, technical upkeep and so on. In the near future, Remax Capital plans to offer its customers a new service: apartments for daily rent.
Is it safe to say that Remax Capital is a bridge between investors and real estate potential in Georgia? Absolutely, and feedback from investors who use the service confirms this. Besides, numbers never lie, and through these numbers we can easily see the company’s annual success in the sale and rental of both commercial and residential property.
“Nobody in the world sells more real estate than Remax!” This slogan is based on facts, the reputation and the expertise of this company. With every year, Remax continues to justify its slogan.