Entering its 33rd year in business, Integra Enterprises Corporation, the largest sub-franchiser of RE/MAX LLC, is moving forward with an aggressive growth strategy that—according to the company—is poised to shake up market share in New England. The company stated its goal is to double existing market share, further growing the RE/MAX name, according to the release.
Integra reports that it represents approximately 30 percent of RE/MAX franchises worldwide. More than 27,000 RE/MAX agents fall under the umbrella of Integra, including all 2,725 RE/MAX agents in New England, the company reported.
Despite operating in more than 30 countries internationally, this family-run, privately held company based in Toronto, Ontario, Canada has maintained a low profile in the international business community, instead choosing to focus on enhancing the RE/MAX brand name.
Now, with its growth strategy announced, Integra has already taken the first step toward its goal by completing the largest agent conversion in New England to date, according to the company. ERA Andrew Realty, with 70 agents at two offices in Medford, Mass. and Stoneham, Mass., has joined Integra under the name RE/MAX Andrew Realty Services. This is the first of what Integra says it plans to be multiple large-scale brokerage conversions intended to double RE/MAX’s local market share.
Integra is uniquely positioned to pursue growth in this economy, company officials stated, because of the business structure the company has in place. This includes:
– Representing a singular brand in the real estate franchise space
– Being a private company which carries no debt
As a privately-held company, Integra is not required to focus on meeting short-term quarterly performance expectations, the company reports. This allows Integra to focus on a long-term growth strategy. As a no-debt company, Integra is highly profitable. This allows for continued investment in people and technology.
– Investing in people and technology
Integra has attracted some of the highest performing leadership talent both inside and outside of the real estate industry with the goal of providing Broker/Owners and Sales Associates with meaningful access to the brightest minds in business.
– Providing administrative, marketing and training support to independent franchisees
Integra is dedicated to providing the highest level of dedicated regional support to its broker/owners. It operates five regional headquarters, including an office in Natick, Mass., where RE/MAX of New England is based.
A quick look at agent productivity through the first six months of 2012 reinforces the success that regional support and this business model creates. According to the company:
· In Connecticut, 349 agents have combined to execute 2,813 Ends (transactions) through July 2012. That is an average of 8 transactions per agent YTD, compared to 3 transactions per competitor agent YTD. RE/MAX holds 4.7 percent market share in Connecticut.
· In Massachusetts, 1,365 agents have combined to execute 9.232 Ends (transactions) through July 2012. That is an average of 7 transactions per agent YTD, compared to 4 transactions per competitor agent YTD. RE/MAX holds 9.7 percent market share in Massachusetts.
· In New Hampshire, 367 agents have combined to execute 3,095 Ends (transactions) through July 2012. That is an average of 8 transactions per agent YTD, compared to 4 transactions per competitor agent YTD. RE/MAX holds 12.7 percent market share in New Hampshire.
· In Rhode Island, 361 agents have combined to execute 2,695 Ends (transactions) through July 2012. That is an average of 7 transactions per agent YTD, compared to 4 transactions per competitor agent YTD. RE/MAX holds 18 percent market share in Rhode Island.
· In Vermont, 65 agents have combined to execute 610 Ends (transactions) through July 2012. That is an average of 9 transactions per agent YTD, compared to 5 transactions per competitor agent YTD. RE/MAX holds 7.4 percent market share in Vermont.
· In Indiana, 1,191 agents have combined to execute 14,275 Ends (transactions) through July 2012. That is an average of 12 transactions per agent YTD, compared to 5 transactions per competitor agent YTD. RE/MAX holds 18.1 percent market share in Indiana.
· In Minnesota, 1,291 agents have combined to execute 15,375 Ends (transactions) through July 2012. That is an average of 12 transactions per agent YTD, compared to 6 transactions per competitor agent YTD. RE/MAX holds 32.6 percent market share in Minnesota.
· In Wisconsin, 675 agents have combined to execute 8,525 Ends (transactions) through July 2012. That is an average of 13 transactions per agent YTD, compared to 6 transactions per competitor agent YTD. RE/MAX holds 21.6 percent market share in Wisconsin.
The company stated that Integra is committed to continued investment in the company as well as the continued growth of RE/MAX during what has been one of the most tumultuous economic times in recent history. To this end, Integra notes that it is confident that its business structure, proven leadership, access to technology, and focus on regional support will make it an attractive option, further facilitating additional large-scale conversations.
For more information visit www.remax-newengland.com.
