ERA Real Estate, a subsidiary of Anywhere Real Estate Inc., expanded its footprint in South America with the signing of a master franchise agreement in Uruguay. The agreement was signed with developer Kopel Sánchez and Rutland S.A.
Kopel Sánchez, established more than two decades ago, was founded by Fabián Kopel and Sebastián Sánchez, and focuses on developing housing stock in Uruguay.
Meanwhile, Rutland S.A., which also serves as the brokerage operations for the Paraguay branch of ERA, is led by owner Ernesto Orosman Gomez and CEO Francisco Manuel Gomez Mansilla. The Paraguay branch marked ERA’s first expansion in South America.
The two developers will partner to leverage their combined experience and expand ERA’s presence in Uruguay, said Sherry Chris, president and CEO of ERA. Chris also serves as Anywhere’s president and CEO of its Expansion Brands portfolio, which include Better Homes and Gardens Real Estate and ERA.
“The team of leaders realized the unique advantages of leveraging the ERA brand and its global footprint to build a successful company,” Chris added in a prepared statement. “We welcome ERA Uruguay to our Team ERA global network of real estate professionals.”
Real estate entrepreneur Wilder Ananikian will serve as the president of ERA Uruguay. Ananikian’s career spans more than three decades in the brokerage industry, with prior experience in the Montevideo and Punta del Este markets.
Ananikian’s prior leadership roles include member of the honorary court of the ethics commission, past-president and member of the advisory council of Confederación Inmobiliaria de Latinoamérica (CILA), founder and first president of La Confederación Inmobiliaria Latinoamericana (Latin American Real Estate Confederation), and past-president of Cámara Inmobiliaria Uruguaya (CIU).
“ERA Real Estate’s entry into Uruguay is an excellent opportunity to take leadership of a dynamic market with ample avenues for growth and expansion,” Ananikian said in the statement. “We plan to capitalize on the growing awareness of the brand and its strong value proposition to develop an extended footprint across Uruguay.”
ERA cites Uruguay’s public policies, stable economy and tax benefits as some of the reasons for its expansion in the country, calling it a “mecca” for real estate development.
The company’s data suggests a housing deficit of approximately 65,000 homes in Uruguay, which has led to a rise in rents.
Last year, 43,021 sales were made throughout the country (33% from Montevideo, 17% from Maldonado and 50% in the rest of the country), according to Uruguay’s National Housing Agency. In 2020 there were 35,621 transactions, implying a growth of 21%, a notable increase surpassing pre-pandemic years.
Prices rose by 5%, at par with pre-pandemic levels, ERA said in the release. Moreover, construction permits increased by 40% over 2020, an ongoing trend in 2022.
This May, ERA also expanded internationally with a master franchise agreement for Spain.
Among ERA’s recent domestic expansions in 2022 are its affiliations with ERA Shelman Realty in Bonners Ferry, Idaho, PowerMark Properties in Biloxi, Mississippi, and ERA Realty All Over in Harvey, Louisiana, a suburb of New Orleans south of the Mississippi River.
Earlier this month, Ryan Gorman stepped down as the CEO of Anywhere subsidiary Coldwell Banker. Sue Yannaccone, who currently serves as the president and CEO of Anywhere Brands, leading brands like BHGRE, CENTURY 21, Corcoran, ERA, and Sotheby’s International Realty, expanded her role to also oversee the Coldwell Banker brand.