CENTURY 21 will soon become a household name in Hong Kong.
The Century 21 Real Estate Corp was formed in California in 1971 by Art Bartlett and Marsh Fisher, and it has quickly grown to become the world's largest estate agency franchise in the world.
By the mid-1970s it was expanding internationally, and now it is coming to Hong Kong with the formal launch of the first 30 estate agency branches under its Century 21 banner tomorrow.
Only fast food chain McDonald's has more franchise outlets worldwide, according to one magazine survey.
Century 21, a wholly owned subsidiary of Metropolitan Life Insurance Co of the US, offers existing or new estate agencies the chance to become part of a prestigious international network overnight.
For a one-off five year fee of $100,000 per branch and negotiable monthly commission fee of two to six per cent of revenue, estate agents can enter the Century 21 fold, hoist its sign above the door, share in joint advertising and staff get to wear the company's golden uniform.
Companies recruited to the chain must also adopt the Century 21's code of practice to assure customers worldwide of a high standard and consistency of service. They risk being booted out if they breach the rules.