RE/MAX announces buyout

From Monday, the New Zealand branch of the company will be owned by a group that includes the current regional director, Chris Chapman, managing director of RE/MAX Australia and New Zealand Michael Davoren and Keith Walker, franchise director of RE/MAX Australia.

The master franchise had previously been held by RE/MAX head office in the United States.

The group wants to double the number of offices the real estate firm has in this country in the next five years.

Davoren said the ownership change would intensify the brand’s local focus. “RE/MAX is already number one in Wellington by sales and we know we can make big in-roads in other markets as well.”

RE/MAX first came to New Zealand in 2003 and has grown to include 47 offices.

The RE/MAX New Zealand region will continue to be managed from its headquarters in Ellerslie, Auckland. 

Chris Chapman has been the RE/MAX Regional Director since 2007 and before that was the region’s Financial Controller.

Davoren spent two years in New Zealand as the former LJ Hooker New Zealand general manager and will be working across both the Australian and New Zealand markets.

The trio will also take over ownership of the RE/MAX Australia master franchise.