By Keith Loria, Contributing Editor
Mexico City—Sperry Van Ness International Corp. has expanded into Mexico with its first office location in Mexico City, naming Xavier Pumarejo as president and general director of SVN México.
“Our initial focus on our international expansion efforts was securing the right partners in Canada and Mexico,” George Slusser, SVN’s chief growth officer, told Commercial Property Executive. “Both countries are important as investors in U.S. Real Estate but also as investment opportunities for our domestic clients. Mexico has a very established commercial real estate market in most of the major cities.”
The new office, which will operate under the name Sperry Van Ness Mexico City, will build on SVN’s successful business model of compensated cooperation as well as bring cutting-edge real estate platforms to Mexico’s industry professionals.
“Our goal right from the start was to only expand if we could find a the right partner. The partner had to be culturally compatible, have the same commitment and philosophy to assisting clients that we did, and had the ability to help transform the way real estate is transacted,” Slusser said. “We found that partner in Xavier Pumerajo and his team.”
Currently, there are several U.S.-based brokerage houses active and successful in the Mexican market and that led to SVN’s interest in the country.
“They had no direct competitor focused on what is best for the client. As a rule, they do not share information on properties for sale and do not share the commission to attract the most possible interest in the property. This is our foundational principle,” Slusser said. “The timing is right for our tools as well. Our award winning technology and training programs can be used in Mexico with very little modification. The time was right for SVN to lead the industry into a more client friendly environment.”
This is the third international market expansion for SVNIC, who opened an office location in Russia in October 2014 and Canada in October 2015. The commercial real estate franchisor plans to continue expanding internationally into targeted markets across the globe.