EXCLUSIVE: Following this week’s news that Keller Williams, the world’s largest real estate franchise ranked by number of agents, will be opening in Cambodia the firm has confirmed it has no immediate plans for Thailand.
Keller Williams’ entry into Cambodia marks its eighth master franchise in Asia, including in Vietnam and Indonesia.
In an email to ThailandProperty.News William E. Soteroff, the President of Keller Williams Worldwide, the international division of the U.S.-based real estate firm, said his company had no announcements slated during the short term for expansion into Thailand.
He said: “Keller Williams Worldwide is currently exploring further expansion opportunities across Central and South America, Central and Eastern Europe and throughout Asia.”
“The core criteria for new franchises starts with having a qualified leadership team grounded in our culture; and we strive to do business in countries that have a stable government, banking and judicial system and a higher maturity level for a real estate market.”
“In business development conversations, our focus remains solely on choosing the right people to lead our franchises worldwide. On average, we spend more than eight months in extensive training before officially launching a franchise. It is a complex process for a reason as each new leader becomes the standard-bearer in their country.”
Regional Operating Principal Kim Heang will lead Keller Williams’ growth across Cambodia. He currently serves as the Chief Executive Officer of Khmer Real Estate Co, and will be adopting Keller Williams’ systems to disrupt the broker-centric model thoroughly embedded in the market.
“Kim Heang is exactly the type of learning-based, growth-oriented leader that we want to be in business with,” added Soteroff.
“He saw a market opportunity to bring a new model into his country and took action immediately. The Keller Williams Cambodia leadership team is also one of the most dynamic and influential that we’ve seen in international real estate.”
The new master franchise in Cambodia is currently initialising operations and is expecting to launch its first office with a team of 50 agents within several months.
Keller Williams has more than 975 offices and 186,000 associates. The franchise is also number one ranked by number of units and sales volume in the United States.
Although Thailand has numerous real estate agencies, surely it can only be a matter of time before we see the world’s largest franchise open here?