Even as the housing market slows, The Agency is continuing its expansion. The brokerage has launched its second European office, in Lisbon, Portugal, according to an announcement on Tuesday.
The Lisbon office is the firm’s 74th franchise. The Agency launched its European operation in the spring of 2022, opening an office in The Netherlands.
“Our continued growth in Europe is a true testament to the increased demand and need for a luxury boutique brokerage with global reach like The Agency,” Jim Ramsay, The Agency’s executive vice president of franchise sales, said in a statement.
According to the release, Ayre Neto will serve as the Lisbon office’s managing partner.
“We’re thrilled to expand our presence in Europe with the launch of our new franchise in Portugal,” Mauricio Umansky, the firm’s founder and CEO, said in a statement. “Ayres Neto is one of the most celebrated real estate authorities in the country of Portugal, and we are confident that he will serve as an incredible steward of our brand and culture as we enter this dynamic and sought-after market.”
Neto was born and raised in Brazil, and is a trilingual speaker of Portuguese, Spanish and English. After living in Argentina and the U.S. for roughly two decades, he moved to Lisbon in 2017. Since then, Neto has held affiliations with Century 21 and Coldwell Banker and is a member of Coldwell Banker’s President’s Circle, which recognizes the brokerage’s top 7 percent of sales associates across the globe.
“I am honored to lead The Agency Portugal as we bring the power of The Agency brand to our country,” Neto said in a statement. “Given its unparalleled natural beauty, affordability and the tax benefits that come with relocating here, Portugal is such an incredible place to live, and it’s my privilege to help bring The Agency’s groundbreaking tools and technology to our market.”
The team of agents Neto will lead at The Agency Portugal represent more than a dozen countries and speak 13 different languages.
Although the housing market has cooled rapidly over the last 10 months, The Agency has continued to expand its footprint, setting up shop in Nashville, Palm Beach and Bend, Oregon since the start of the year. Despite the expansion, the firm has seen the effects of the slower housing market. Less than a week ago the firm laid off roughly 4% of its staff.