VYBERTE JAZYK
Thriving in a competitive market
After biding its time, ERA Reality launches franchising campaign in the Czech Republic
By Hilda Hoy
Staff Writer, The Prague Post
October 18, 2006
When some survey Prague´s real estate scene, they see a saturated market.
But Keith Holecek, co-director of ERA Reality, one of the newest players on the market, believes the timing is perfect to expand into the Czech Republic.
"The market in Prague is very crowded and highly competitive," he says. "That´s something we like and we feed off of."
In fact, Holecek is confident that tough market conditions will be a factor in ERA´s success. "Because it´s so competitive, to survive, a real estate company needs to be great," he says. "That´s why we believe we´re going to stand out."
Standing out should come easily, given ERA´s clout on the Continent. The Florida-based company is currently the largest real estate network in Europe, with a presence in 17 countries.
Though the Prague ERA office officially opened in March, Holecek and his brother and co-director Michael have spent the months since setting up shop, preparing and translating merchandising and training materials and cultivating a network of potential partners.
In late summer, they began an aggressive marketing campaign to target potential partners in the Prague vicinity. They are currently in the negotiating stage with several, and hope to have them permanently on board by the end of the year, according to Holecek.
Once they´ve developed a firm foundation in Prague, the Holecek brothers plan to start expanding across the rest of the country. Within the next three to five years, they expect to have as many as 100 Czech ERA offices.
A growing network
ERA is a large-scale real estate franchising company that works by setting up partnerships with brokers throughout its chosen territory. Although each office is individually owned and operated, brokers operate under the ERA name and have the benefit of the company´s technological infrastructure, training and marketing materials and considerable experience, not to mention its name and reputation.
"We like to say that an ERA franchisee works for himself but not by himself," says Holecek.
That means each office can rely on both its country headquarters and its sister offices for support. "Not only will [each office] have different partners in the Czech Republic, but also throughout the world," Holecek says.
While ERA will consider startup operations, its main focus is on "conversions" — that is, turning a pre-existing company into an ERA partner.
That´s where Holecek´s colleagues Petr Najmon and Martin Seidl come in. As developers for ERA´s Czech network, they´re on the front lines of expansion, doing the groundwork and meeting with potential franchisees.
"We´re focusing on a radius around Prague and going and meeting with each office," Seidl says.
According to Holecek, the message they´re selling is clear: "If you keep doing the same thing, you´ll always have the same results. We´re bringing the idea that maybe you can do it better."
ERA
Founded: In the United States in 1971
Offices: In 17 European countries, most recently the Czech Republic, Cyprus and Bulgaria
Brokers and Agents: 6,500 in Europe
Web: www.eraeurope.com
ERA Czech Republic
Pobrezni 3, Prague 8
Tel: 224 835 951
Web: www.eraczechrepublic.com
European expansion
ERA is at the beginning of a calculated expansion into Central Europe, first with the opening of the Prague office and then with the recent opening of another branch in Bulgaria.
The company has followed developments in the area since the fall of the Eastern bloc. "It´s been enough time for these countries to go through the rigorous process of privatization," Holecek says. "It was a laborious task, but it´s been long enough for people to adjust to a new way of living and to want to own their own properties."
Though ERA considered opening in Prague about four years ago, company officials decided to take a more measured approach. Though the market experienced a boom after the country´s EU acession in 2004, ERA still waited.
"We just felt the timing wasn´t right because franchising was so new," Holecek says. "Now, there´s a strong economy and the Czechs have been really embracing franchising."
ERA hopes to expand further in Central Europe, eyeing both neighboring countries and those even further afield. Considering the company´s Continental dominance, the expansion is simply a "natural progression," Holecek says.
This may be a introduction to the country for ERA, but, for the Holecek brothers, it´s in their roots. Both Keith and Michael were born and raised in Chicago, but they are of Czech blood and are looking forward to a sunny future here.
"I have a love for real estate, so I´d be doing that anywhere," Keith says. "But I really have a love for this country and its culture."
By Hilda Hoy
Staff Writer, The Prague Post
October 18, 2006
When some survey Prague´s real estate scene, they see a saturated market.
But Keith Holecek, co-director of ERA Reality, one of the newest players on the market, believes the timing is perfect to expand into the Czech Republic.
"The market in Prague is very crowded and highly competitive," he says. "That´s something we like and we feed off of."
In fact, Holecek is confident that tough market conditions will be a factor in ERA´s success. "Because it´s so competitive, to survive, a real estate company needs to be great," he says. "That´s why we believe we´re going to stand out."
Standing out should come easily, given ERA´s clout on the Continent. The Florida-based company is currently the largest real estate network in Europe, with a presence in 17 countries.
Though the Prague ERA office officially opened in March, Holecek and his brother and co-director Michael have spent the months since setting up shop, preparing and translating merchandising and training materials and cultivating a network of potential partners.
In late summer, they began an aggressive marketing campaign to target potential partners in the Prague vicinity. They are currently in the negotiating stage with several, and hope to have them permanently on board by the end of the year, according to Holecek.
Once they´ve developed a firm foundation in Prague, the Holecek brothers plan to start expanding across the rest of the country. Within the next three to five years, they expect to have as many as 100 Czech ERA offices.
A growing network
ERA is a large-scale real estate franchising company that works by setting up partnerships with brokers throughout its chosen territory. Although each office is individually owned and operated, brokers operate under the ERA name and have the benefit of the company´s technological infrastructure, training and marketing materials and considerable experience, not to mention its name and reputation.
"We like to say that an ERA franchisee works for himself but not by himself," says Holecek.
That means each office can rely on both its country headquarters and its sister offices for support. "Not only will [each office] have different partners in the Czech Republic, but also throughout the world," Holecek says.
While ERA will consider startup operations, its main focus is on "conversions" — that is, turning a pre-existing company into an ERA partner.
That´s where Holecek´s colleagues Petr Najmon and Martin Seidl come in. As developers for ERA´s Czech network, they´re on the front lines of expansion, doing the groundwork and meeting with potential franchisees.
"We´re focusing on a radius around Prague and going and meeting with each office," Seidl says.
According to Holecek, the message they´re selling is clear: "If you keep doing the same thing, you´ll always have the same results. We´re bringing the idea that maybe you can do it better."
ERA
Founded: In the United States in 1971
Offices: In 17 European countries, most recently the Czech Republic, Cyprus and Bulgaria
Brokers and Agents: 6,500 in Europe
Web: www.eraeurope.com
ERA Czech Republic
Pobrezni 3, Prague 8
Tel: 224 835 951
Web: www.eraczechrepublic.com
European expansion
ERA is at the beginning of a calculated expansion into Central Europe, first with the opening of the Prague office and then with the recent opening of another branch in Bulgaria.
The company has followed developments in the area since the fall of the Eastern bloc. "It´s been enough time for these countries to go through the rigorous process of privatization," Holecek says. "It was a laborious task, but it´s been long enough for people to adjust to a new way of living and to want to own their own properties."
Though ERA considered opening in Prague about four years ago, company officials decided to take a more measured approach. Though the market experienced a boom after the country´s EU acession in 2004, ERA still waited.
"We just felt the timing wasn´t right because franchising was so new," Holecek says. "Now, there´s a strong economy and the Czechs have been really embracing franchising."
ERA hopes to expand further in Central Europe, eyeing both neighboring countries and those even further afield. Considering the company´s Continental dominance, the expansion is simply a "natural progression," Holecek says.
This may be a introduction to the country for ERA, but, for the Holecek brothers, it´s in their roots. Both Keith and Michael were born and raised in Chicago, but they are of Czech blood and are looking forward to a sunny future here.
"I have a love for real estate, so I´d be doing that anywhere," Keith says. "But I really have a love for this country and its culture."
