One of the largest American real estate companies announces its entry into the Romanian market. With over 40 years of experience in real estate, ERA Real Estate will begin its operations in Bucharest, hoping to develop a local system with over 100 agents and real estate agencies within the next 5-10 years.
ERA LogoThe ERA company, one of the most powerful real estate franchise companies globally, announces its entry into the Romanian market and the introduction of the unique ERA® Business System franchising model.
„The Romanian real estate market is currently under-regulated, with very easy access. In this heterogeneous market, marked by the existence of thousands of real estate agencies, ERA Romania aims to introduce a professional system through which clients wishing to buy or sell a property have a reference point, a brand that certifies the professionalism of a broker or a real estate agency,” company representatives stated.
ERA Romania aims for over 100 agents and real estate agencies to be part of the system within the next 5-10 years, each holding at least 10% of the covered residential area.
In its first three years of operation, ERA Romania aims to reach at least 50 franchisees.
On average, in each of the countries where it operates, ERA holds 15% of the residential real estate market.
„When a broker or an agency joins the ERA franchise system, they are provided with a series of tools and a set of knowledge to help them succeed in the real estate market. They do not lose their autonomy, as each franchise is independently owned. In the franchise relationship, ERA grants a license to the broker or agency to operate under its name and follow the unique ERA business model in exchange for a monthly licensing fee,” company representatives added.
According to them, some of the most important advantages that come with entering the system include: the ERA internet system, ERA CRM, the ERA referral system, the ERA training program, and the ERA referral system.
Operations in Romania will be coordinated by Valentin Krastev, who has over 20 years of experience in developing franchise systems and real estate sales. Valentin Krastev has held the position of marketing director of the Bulgarian Franchise Association, is a founder of the Franchise Federation of Black Sea Countries, and works closely with the Romanian Franchise Association and the Turkish Franchise Association (UFRAD).
„ERA brokers in Romania will benefit from our extensive experience and success in neighboring countries, ERA training programs, result-oriented working methods, and unique tools. We want franchises with the help of which we can launch 100 real estate shops,” stated Valentin Krastev.
Bucharest, the starting point for ERA’s activity in Romania
In the first phase, company representatives announced they will concentrate on the Capital, a city where over 30% of national residential activity takes place.
„Price fluctuations from the average value of €2300/m2 during the peak period (2008) to the average value of €1000/m2 today are one of the particularities of the Bucharest residential market. Also as a particularity, in the first half of 2015, house prices in the city center increased modestly, with an average annual percentage of 3%, while prices in peripheral areas remain under pressure (-4.0%),” ERA representatives specified.
ERA was founded in the USA in 1971 and has over 40 years of experience in the real estate field. In Europe, ERA has created a series of successful start-ups in 14 European markets over the last 20 years and today has over 1,100 offices and over 6,000 members in Europe.
Source: Imopedia/Media
Frequently Asked Questions
What is ERA Real Estate’s objective in Romania?
ERA aims to attract over 100 franchises within the next 5-10 years, targeting a 15% market share in the residential segment.
Who coordinates ERA’s operations on the local market?
Operations are led by Valentin Krastev, an expert with over 20 years of experience in franchise systems and real estate.
What benefits does the ERA franchise system offer?
Franchisees gain access to the ERA internet system, CRM, training programs, and a unique business model while maintaining their autonomy.