Transforming the real estate industry

Private Property South Africa
Press

How RE/MAX has gone from strength to strength over the last 20 years.

Since the RE/MAX brand arrived on South African shores over 20 years ago, it has seen remarkable growth and is now regarded as the largest real estate company in the country with over 2400 agents and sales in excess of R23 billion in 2015. Represented in 15 countries on the African continent, the brand is part of the world’s largest real estate brand operating in nearly 100 countries worldwide with over 6 500 franchised offices and over 100 000 RE/MAX real estate agents.

In order to better position the brand for further future growth, particularly in previously unchartered territory - RE/MAX opened its doors to a B-BBEE partner, Z Capital Properties (Pty) Ltd. Owned by Amanda and Yolanda Cuba, Z Capital is a prominent black empowered company, which purchased a 45% share of RE/MAX of Southern Africa early in 2015. As a result of the partnership, RE/MAX of Southern Africa recently received a level 3 B-BBEE Verification Certificate achieving a recognition score of 110%.

The Department of Human Settlements and the Estate Agents Affairs Board (EAAB) have consistently stated that transformation is very high on their agenda and RE/MAX of Southern Africa wanted to be the first real estate group out of the top six groups in the country to introduce black ownership at the highest level.

“Apart from the fact that the partnership has given the brand the opportunity to expand in different avenues, it has also positioned RE/MAX as pioneers in the transformation of the real estate sector. The significant stake that Z Capital holds within the brand is evidence that we are serious about change and fully support the government’s effort to uplift previously disadvantaged citizens,” says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.

He adds that the aim for the brand is to continue to grow the number of estate agents from previously disadvantaged backgrounds working within RE/MAX of Southern Africa. The focus will primarily be on entrepreneurially-minded individuals who presently have no employment, but would like to build a business within the real estate arena.

“As upstanding citizens of this beautiful country and in our case, custodians of the RE/MAX brand, we have a responsibility and an opportunity to bring people closer together every day under one rainbow nation. Home ownership is a facilitator to so much more than just bricks and mortar – access to education finance, capital growth, pride, self-worth - things that many of us take for granted but afforded to so few,” says Goslett.

He notes that real estate professionals are in a unique position to positively impact and improve the lives of so many people every single day. “I’m reminded of a mother of two young girls from Gugulethu who worked tirelessly to save enough money to put a deposit down and purchase a home by way of an access bond. That access bond unlocked previously inaccessible finance to be able to send those two young girls to a great school and give them the opportunity they needed to shine, be noticed and accepted to attend higher education from where they would build successful careers and businesses. Today one of them, Yolanda Cuba, is the Chief Strategy Officer for Vodacom Africa. The other, Amanda Cuba, is the co-owner of RE/MAX of Southern Africa,” Goslett concludes.

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