24 New RE/MAX Offices Open in Last Three Months of 2023

Rhea-AI Summary

RE/MAX, LLC (RMAX) celebrates the addition of 24 RE/MAX offices in the U.S., welcoming nearly 330 agents between Oct. 2 and Dec. 31, 2023. The new offices, conversions, and expansions highlight the brand's attractiveness to real estate entrepreneurs, reaffirming RE/MAX as the #1 name in real estate.

Insights

Market Research Analyst

The expansion of RE/MAX offices across the U.S. indicates a strategic move to bolster the company's market share and visibility in the real estate sector. From a market research perspective, the addition of new offices and agents can be seen as a positive indicator of brand strength and growth potential. The company's ability to attract nearly 330 agents, including those from previously unaffiliated brokerages, suggests a competitive value proposition that resonates with real estate professionals.

However, it is essential to monitor whether this expansion leads to increased market penetration and higher revenue streams. The real estate industry is highly sensitive to economic cycles and the expansion's success will depend on housing market trends, interest rates and consumer confidence. This growth could also signal increased competition for independent and smaller brokerages, potentially leading to further consolidation in the industry.

Financial Analyst

The opening and expansion of RE/MAX offices should be scrutinized for its financial implications. An increase in the number of offices and agents typically requires significant upfront investment and operational costs. Investors should examine the company's financial statements in subsequent quarters to assess the impact of these expansions on the bottom line.

While the expansion may generate additional revenue through franchise fees and agent commissions, it is crucial to consider the efficiency of these new operations. The real estate franchising model relies heavily on the performance of individual agents and offices, so the productivity of the new additions will be a key determinant of financial success. Furthermore, the expansion must be sustainable to justify the costs and support the company's long-term profitability.

Real Estate Industry Expert

The recent expansion of RE/MAX within the U.S. is reflective of the broader trends in the real estate industry, where brand recognition and extensive networks are vital for attracting clients. The conversions of formerly unaffiliated brokerages to RE/MAX franchises suggest that the company's brand and support systems are appealing to independent operators, especially in a turbulent market.

For stakeholders, the long-term benefits may include a more robust portfolio of properties and a wider geographical service area, enhancing the company's resilience against local market fluctuations. However, it is also important to consider the integration of these new offices and agents into the RE/MAX culture and systems, as this will be critical in maintaining service quality and brand reputation.

New offices, conversions and expansions in the U.S. bring nearly 330 agents into network, strengthening brand presence 

DENVER, Jan. 8, 2024 /PRNewswire/ -- RE/MAX, LLC, one of the world's leading franchisors of real estate brokerage services, celebrates the addition of 24 RE/MAX offices in its U.S. company-owned regions between Oct. 2 and Dec. 31, welcoming nearly 330 agents to the brand.

The recent additions, which are a mix of new offices, conversions of formerly unaffiliated brokerages, and expansions of existing RE/MAX companies, highlight the attractiveness of the RE/MAX value proposition to real estate entrepreneurs across the country and reaffirms the power of RE/MAX, the #1 name in real estate.¹

New brokerage openings:

• Darius Cochran opened RE/MAX River & Ranch on Dec. 19 in Labelle, FL
• Brandon Reichenau opened RE/MAX Frontier on Nov. 30 in Midlothian, TX
• Sibel Gucum opened RE/MAX Superior on Nov. 22 in Deer Park, NY
• Josh Jarboe opened RE/MAX Empire on Nov. 21 in Mt. Washington, KY
• Neha Sutrave opened RE/MAX Advantage on Nov. 13 in Houston, TX
• Laura Walton opened RE/MAX Elite on Nov. 6 in Macon, GA
• Brandi Smith opened RE/MAX Big Country on Nov. 1 in Abilene, TX
• Ted Schaar opened RE/MAX Forward on Oct. 10 in New Berlin, WI

Conversions:

• Michael Banh converted an unaffiliated brokerage and opened RE/MAX Exclusive with 106 agents in Houston, TX on Dec. 15
• Laurie Kiss converted her brokerage to RE/MAX Next in Irwin, PA on Dec. 14
• Robert Bentley and Alissa Christie converted their unaffiliated brokerage and opened two RE/MAX Bentley's locations in Newburyport, MA with 61 agents on Dec. 4
• Pezhman Dashti converted his brokerage to RE/MAX Dashing Properties in Lake Forest, CA on Oct. 25

 Expansions & Acquisitions:

• Charles Blackwell and Joanie Blackwell expanded RE/MAX Celebration and opened a new office in Shelbyville, TN on Dec. 21
• Chandler Mason and Anna Mason, owners of RE/MAX Lakeland Realty expanded operations and opened a new office in Edinboro, PA on Dec. 8
• Richard McKinney and Pamela McKinney expanded RE/MAX Gold and opened a new office in Port St. Lucie, FL on Dec. 5
• Cedric Robinson, Angela Robinson and Hadi Atri acquired an office in Wilmington, NC and rebranded it to RE/MAX Executive on Dec. 1
• Lee Linhart and Laura Linhart, owners of RE/MAX Choice Properties opened a new office in Franklin, TN on Nov. 29
• Christy Walker, owner of RE/MAX Signature opened two new offices; one in Gilbert, AZ on Dec. 14 and another in Tucson, AZ on Nov. 1
• Ken Crowley, owner of RE/MAX 100, opened a new office in Columbia, MD on Oct. 30
• John Gscheidmeier expanded his operations and opened RE/MAX Service First – Lake Country in Pewaukee, WI on Oct. 27
• Andrew Kligman and Anna Garifine of RE/MAX Synergy opened a new office in Little Silver, NJ on Oct. 4
• Abram Covella, Thomas Zdanowicz and Justin Bosak, owners of RE/MAX Revolution opened a new office in Lavallette, NJ on Oct. 2

"It's hard to deny that this has been one of the most turbulent markets in memory, but the strength of the RE/MAX brand was apparent" says Peter Luft, RE/MAX, LLC Vice President of Franchise Sales. "I think it speaks volumes about the character of our franchisees and about the power of affiliating with RE/MAX – the #1 name in real estate." 

Each RE/MAX office is independently owned and operated.

About the RE/MAX Network
As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with more than 140,000 agents in over 9,000 offices and a presence in more than 110 countries and territories. Nobody in the world sells more real estate than RE/MAX, as measured by residential transaction sides. RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. RE/MAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children's Miracle Network Hospitals® and other charities. To learn more about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com. For the latest news about RE/MAX, please visit news.remax.com.

¹Source: MMR Strategy Group study of unaided awareness.

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SOURCE RE/MAX, LLC

FAQ

How many new RE/MAX offices were added in the U.S.?

24 RE/MAX offices were added between Oct. 2 and Dec. 31, 2023.

How many agents were welcomed to the RE/MAX brand?

Nearly 330 agents were welcomed to the RE/MAX brand between Oct. 2 and Dec. 31, 2023.

Who opened RE/MAX River & Ranch in Labelle, FL?

Darius Cochran opened RE/MAX River & Ranch in Labelle, FL on Dec. 19.

What did Peter Luft, RE/MAX, LLC Vice President of Franchise Sales, say about the market?

Peter Luft mentioned that the strength of the RE/MAX brand was apparent despite the turbulent market.