ERA® Real Estate, a global franchising leader within the Realogy family of brands, announced today the signing of a master franchise agreement for Paraguay with Rutland S.A. This marks ERA Real Estate’s first expansion into South America.
Rutland S.A. is led by owner Ernesto Orosman Gomez and CEO Francisco Manuel Gomez Mansilla. It will serve as the brokerage operations of Fortaleza, a nearly 30-year old leading development firm. Fortaleza has approximately 200 employees and has developed notable recent properties as Boggiani, Molas Lopez and Carmelitas, creating more than 750 housing units. It has a current pipeline of more than 8,500 apartments in the coming years.
The Paraguayan real estate market continues to boom. Both sales prices and the number of multi-family housing projects are experiencing positive growth, especially in the capital city of Asunción. The number of homeowners in the region is 86,400 and doubles that of renters. The country of nearly seven million people has a homeownership rate of 76.3%.
“As a global leader in real estate with over 36,000 affiliated agents worldwide, we are thrilled to have found great partners to launch the ERA brand in Paraguay as our first master franchise in South America. Francisco and Ernesto have a tremendous understanding of the Asunción market and where growth opportunities exist in the region and nationwide. Their partnership with Fortaleza allows them to represent properties that meet the needs of potential buyers. Francisco and Ernesto recognized that to expand in the Paraguayan market, franchising with ERA provided unique advantages to help build a successful company. We are excited to welcome ERA Paraguay to our Team ERA global network of real estate professionals.”
-Sherry Chris, President and CEO of ERA Real Estate
“The real estate industry is considerably dynamic. In order to succeed, you must be at the forefront. Paraguay has enormous potential and with the support from the ERA brand, we can quickly capitalize on the momentum that we are seeing in the region today. Likewise, we were immediately drawn in by the innovative technology and supportive tools that ERA® Real Estate had to offer. We knew it was exactly what our company needed. We understand where the industry is headed and we’re excited to go there with ERA Real Estate.”
- Francisco Manuel Gomez Mansilla, CEO of Rutland, S.A.
About ERA Real Estate
At ERA® Real Estate, we don't adapt to change, we create it. We believe that our core business values of collaboration, innovation, diversity and growth are needed now more than ever. As a global leader in the residential real estate industry for more than 40 years, the ERA brand was the first real estate franchise to expand internationally, the first to post listings online, and is the only national company that offers the Sellers Security® Plan program.
The ERA Real Estate network includes more than 36,000 affiliated brokers and independent sales associates and approximately 2,200 offices throughout the United States and 31 other countries and territories. ERA Franchise Systems LLC (www.ERA.com) which operates the ERA Real Estate system, is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global provider of real estate services. ERA Real Estate information is available at TeamERA.com