Keller Williams Expands EMEA Footprint with Montenegro Franchise
Event summary
- Keller Williams Realty awarded a master franchise in Montenegro, its 31st in EMEA.
- The brand now operates 160 market centers and 10,250 agents across EMEA as of August 31, 2026.
- Dušan Raičević, with 15 years of real estate experience, leads the new Montenegro franchise.
- KW Worldwide has over 240 market centers and 16,100 agents outside the U.S. and Canada.
- First market center in Montenegro expected to open in Q4 2026.
The big picture
Keller Williams continues its aggressive international expansion, targeting markets with stable governance and growing real estate activity. The Montenegro move follows a pattern of entering smaller markets adjacent to larger, established European hubs. With over 16,100 agents outside North America, KW is building a truly global network, though integrating diverse markets presents operational challenges.
What we're watching
- Execution Risk
- Whether KW can replicate its U.S. success model in Montenegro's smaller, less mature market.
- Market Penetration
- The pace at which KW Montenegro attracts agents and establishes market share.
- Regional Expansion
- How this move positions KW for further growth in the Balkans and Eastern Europe.