ERA Europe Signs Master Franchise Agreement with Can Eksioglu

PARSIPPANY, N.J. (Nov. 19, 2012) – ERA Real Estate, a leading real estate franchisor, today announced the signing of a master franchise agreement with independent real estate developer Can Eksioglu to expand the ERA® brand  into Turkey.

“We are proud to add ERA Turkey to our international portfolio,” said Charlie Young, president and CEO of ERA Real Estate. “As a global company, we are continuously seeking to increase our footprint and this latest agreement fortifies the presence of the ERA franchise system in Europe.”

Based in Istanbul, Eksioglu will implement strategies to grow the ERA network of brokers and agents within the country.  Analysis of data from the Turkish Statistical Office and the Turkish Central Bank indicates there are approximately one million residential real estate transactions closed annually in Turkey, with only an estimated 30 percent of residential transactions closed via a broker. This presents a sizable opportunity for brokers and agents to fulfill a need.

“We are pleased to welcome Can Eksioglu to the ERA Europe team,” added François Gagnon, president of ERA Europe. “His business experience as well as his knowledge of the Turkish real estate industry will bring significant value to this market, one of the largest in our group.  We look forward to a very successful ERA Turkey.”

The International Monetary Fund reported that Turkey’s economy grew at 8.5 percent in 2011, second only to China, which experienced a growth rate of 9.2 percent. With a population of more than 70 million, Turkey’s Generation Y group accounts for 40 percent of that population, signaling future growth potential for the housing market.

“Residential real estate purchasing is on the rise and represents a positive growth opportunity for the ERA system’s global presence,” said Young.  “The country has a quickly growing economy, a large number of up and coming home buyers and a promising housing market.  It is a great strategic fit for our brand.”

About ERA Real Estate
ERA Real Estate is an innovative franchising leader in the residential real estate industry with 40 years experience in developing consumer-oriented products and services.  The ERA network includes approximately 31,000 brokers and sales associates and approximately 2,300 offices throughout the United States and 35 countries and territories.  Each office is independently owned and operated.  ERA Real Estate is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global provider of real estate services.  ERA Real Estate information is available at:  ERA.com.

Media Contact:
Melissa Campbell
973-407-7904
melissa.campbell@era.com