With the launch last week of Century 21’s operations in Moscow, real estate franchising appears to have arrived in Russia. Real estate agency Miel announced days before the launch that it would license its name and franchising rights to 150 individual agents, and Hirsh has sold rights to over 60 since 2003.
In recent years, real estate franchising has changed the face of developing markets. Bill Hunt, the senior vice president in charge of international operations at Realogy, Century 21’s parent company, oversaw the firm’s Chinese expansion.
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