Beleaguered yet undaunted by years of political upheaval, Khaled Nasser persevered to establish RE/MAX Egypt and guide it to prosperity.
Prior to joining RE/MAX, Khaled Nasser worked in the construction and renewable energy industries. He considered a move into real estate because he wanted to start a business with unlimited growth potential.
He applied for the Master Franchise among more than 85 applicants, and went through a long screening process. On January 15, 2011, he received news that RE/MAX had chosen him to bring the RE/MAX brand to Egypt. Nasser immediately resigned from his construction job.
Ten days later, however, one of the biggest revolutions in the history of humankind erupted in Egypt. The president stepped down and the country experienced major political and economic turmoil unlike anything it had seen in modern times. With a major lack of security due to the withdrawal of police forces from the streets, crime and terrorism skyrocketed.
Nasser followed the developments closely. He knew RE/MAX would face incredible challenges in this environment, but decided to proceed anyway, believing that mass demand once conditions stabilized would help Egypt’s real estate market recover quickly. More importantly, he believed in the RE/MAX business model and knew that it would revolutionize the country’s real estate industry. Nasser signed the Master Franchise Agreement in July 2011.
He decided to delay recruiting efforts until the political environment became more stable, however, focusing instead on learning as much as possible about how to develop a region. He attended training at RE/MAX Corporate Headquarters in Denver, and spent time in Italy and Turkey learning from some of the world’s top Region Owners.
After months of waiting, Egypt held elections for a new parliament and stability was once again on the horizon. Nasser began recruiting a team in April 2012, and sold his first franchise that same month.
The first RE/MAX office in Egypt opened in September 2012. Nasser sold five more franchises that year, and was beginning to feel confident in the business.
Just when it appeared that Egypt was on track for a better future, however, a group of fundamentalists seized power and tried to suppress the nation more than ever before. The economy plummeted.
Nasser didn’t sell a single franchise over the next 18 months. It was a very challenging time.
All of us worked hard to support our existing offices during the more difficult times. We never stopped pushing for growth.Khaled Nasser
In June 2013, Egypt went through another massive revolution to take down the new president, who had been in power for only a year. The revolution succeeded, and Egyptians were once again hopeful.
In May 2014, Nasser finally sold his sixth franchise. Buoyed with optimism, the region has since grown to include 20 offices and more than 200 agents as of July 2015.
“I have a great team working with me at our head office,” Nasser says. “All of us worked hard to support our existing offices during the more difficult times. We never stopped pushing for growth.
“We’ve also helped our offices recruit and built great training programs and technology. We have conducted events, provided business-development opportunities, organized branding activities and arranged public relations to move the network forward.
“Today, I know that the success of a region’s growth lies in the passion and dedication of the team, and their ability to sell a great dream for others to follow.”
While each region, franchise and agent will eventually face adversity, the success of RE/MAX Egypt underscores that resilience and hard work really can pay off.