Greenwood Village, Co - 19 May, 2005 -

Sergio Papadopoulos, a successful Canadian RE/MAX agent heads a corporation which has purchased the first RE/MAX office in Panama, making it the 55th country for the global real estate franchisor. Panama is part of the RE/MAX Central America region, operated by RE/MAX International. Papadopoulos started his real estate career in the Montreal area at the age of 18 no easy task considering most in the industry were 20 years his senior at the time. He loves challenges, and has a passion for speed that manifested in driving Formula 2000 cars. "I love talking and working with people and the challenge of this fast paced business," he commented. "I joined RE/MAX at the age of twenty one because of the opportunities it offers and because it is the best in the real estate industry in Canada. For almost twenty years I looked for a way to sell real estate in the Caribbean. Then, I found Panama. It has a sophisticated banking system, the perfect climate, an untapped market with an incredible real estate boom and very limited international representation. It seemed like a no-brainer, but a major challenge, something exactly right for me. The professionalism of RE/MAX associates around the world, their ability to comfortably refer investment and retirement incentives to clients, and their expertise in providing services to their clientele has convinced me to make this move. I hope that by opening RE/MAX in Panama, I can provide my clients a path for a better life. This is my ultimate commitment to them.” The Republic of Panama, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica, gained independence from Colombia on November 3, 1903. Strategically located on the eastern end of an isthmus forming land bridge connecting North and South America, it controls the Panama Canal linking the North Atlantic Ocean via the Caribbean Sea with the North Pacific Ocean. Its population is currently just over three million people. Panama's economy rests primarily on a well-developed services sector including operation of the Panama Canal, banking, the Colon Free Zone, insurance, container ports, flagship registry, and tourism. The government has been backing tax reforms, reform of the social security program, new regional trade agreements, and development of tourism. "Obviously, we are excited to have Sergio take this step," commented Peter Gilmour, RE/MAX senior vice president, international franchise sales and brokerage. "His experience in both real estate and the RE/MAX network along with his high energy and determination make an ideal formula for success."

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