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RE/MAX Holdings, Inc. (NYSE: RMAX) is a global leader in real estate franchising and mortgage brokerage services. Founded in 1973 by Dave and Gail Liniger, RE/MAX operates with an innovative and entrepreneurial spirit, allowing agents and franchisees considerable autonomy in their operations. With over 140,000 agents in nearly 9,000 offices across more than 110 countries, the company's global reach is unmatched in the real estate sector.
RE/MAX Holdings operates through several key segments: Real Estate, Mortgage, Marketing Funds, and Others, with the Real Estate segment generating the majority of its revenue. The company’s subsidiary, RE/MAX, LLC, is renowned for having the most productive agents in the industry, as evidenced by its repeated recognition for excellence and industry leadership. In recent achievements, RE/MAX was celebrated for its executive leadership and industry influence, securing spots on various prestigious rankings, including the Swanepoel Power 200 and RISMedia's Real Estate Newsmakers.
In addition to its substantial contributions to the real estate market, RE/MAX has a strong community presence. The company has raised over $130 million for Children's Miracle Network Hospitals® and other charitable organizations, emphasizing its commitment to making a positive impact in the communities it serves.
RE/MAX's operational strategy includes global expansion and the continuous enhancement of its technology platforms. Recent initiatives include the launch of Motto Mortgage, the first and only national mortgage brokerage franchise in the U.S., which has expanded to over 225 offices across almost 40 states since its inception in 2016. Furthermore, RE/MAX is dedicated to providing top-tier support and resources to its franchisees and agents, driving both brand growth and agent success.
Financially, RE/MAX Holdings has shown resilience and strategic cost management amid market fluctuations. The company reported first-quarter 2024 revenue of $78.3 million, with significant contributions from recurring revenue streams. Despite a slight decrease in revenue compared to the previous year, the company's focus on high-quality service and efficient operations positions it well for future growth.
RE/MAX continues to innovate and adapt to changing market conditions, maintaining its status as the #1 name in real estate1. For the latest updates and more information, visit their official website at www.remax.com.
RE/MAX Commercial concluded its 14th annual Commercial Symposium in Denver, focusing on emerging trends in the commercial real estate market. With insights from industry experts like Rick Sharga, who noted a strong rebound in commercial real estate post-pandemic, and Steve Weikal of MIT, discussing technological advancements, the event highlighted the importance of human interaction amid evolving tech. In 2020, RE/MAX Associates closed over 39,000 commercial transactions totaling $11.6 billion in sales volume, showcasing the network's ongoing growth and adaptation.
On September 10, 2021, RE/MAX Holdings (NYSE: RMAX) announced the retirement of Dan Predovich from its Board of Directors after 16 years of service. Chairman Dave Liniger expressed gratitude for Predovich's contributions during his tenure, highlighting his extensive expertise in finance and accounting. Predovich has retired from his CPA practice and now steps back from the board, signaling a transition in leadership. RE/MAX continues to be a leading global franchisor in real estate, with nearly 140,000 agents across over 110 countries.
RE/MAX has successfully closed the sale of Master Franchise Rights in Pakistan to American International Partners, enhancing its footprint in the fifth most populous country. Additionally, the franchise rights in Guyana have been sold to RE/MAX veteran Shiv Misir and partners. This expansion aims to elevate real estate standards in both regions and introduce the RE/MAX brand, offering improved services and trust in real estate transactions. Anticipated openings for RE/MAX Pakistan are set for Spring 2022, while Guyana's entry is projected by the end of September 2021.
Adam Contos, CEO of RE/MAX Holdings, announces his new book, "Start with a Win: Tools and Lessons to Create Personal and Business Success, " set for release on October 19, 2021. The book encompasses leadership strategies and personal growth lessons drawn from his experiences in real estate and law enforcement. It aims to help leaders manage chaos and foster resilience. All profits from sales will benefit Children's Miracle Network Hospitals. RE/MAX, a major franchisor in the real estate market, boasts nearly 140,000 agents across over 110 countries.
The RE/MAX Collection brand announced keynote speakers for its 9th Annual Luxury Forum, taking place on Oct. 27-28, 2021, at the JW Marriott Camelback Resort in Scottsdale. Notable speakers include HGTV host Tamara Day and Master Sommelier Alpana Singh. The event aims to enhance productivity for luxury agents, offering insights on client engagement and the use of social media. Registration costs $299, with an early bird rate of $249 until Aug. 31. RE/MAX, a leader in real estate franchising, boasts nearly 140,000 agents worldwide.
RE/MAX announced significant growth in the first half of 2021, with nearly 400 new franchises and over 500 renewals worldwide. Notably, the acquisition of RE/MAX INTEGRA's North American regions added more than 19,000 agents and over 1,100 offices. In Q2 alone, the company sold over 50 franchises in the U.S. and Canada, and 175 internationally. Senior VP Josh Bolgren highlighted that this growth enhances brand visibility and market share. The company now operates nearly 140,000 sales associates globally, further solidifying its position as a leader in the real estate market.
RE/MAX hosted its 2021 Broker/Owner Conference in Austin, TX from August 8-10, focusing on business growth, recruitment, and profitability. Key sessions featured CEO Adam Contos highlighting RE/MAX's innovative spirit and commitment to technology enhancements, aiming to support over 200,000 agents globally. New tools include the exclusive RE/MAX First® app with added recruiting features and a revamped RE/MAX University® launching in October 2021. The conference also announced family health insurance options for affiliates and the return of the R4 convention in Las Vegas in 2022.
RE/MAX Holdings reported strong second-quarter 2021 results, highlighting a total revenue of $77.2 million, up 48% year-over-year. Net income reached $5.2 million with GAAP EPS of $0.27. The company added over 8,000 agents, reflecting a 6.3% increase in total agents globally. Adjusted EBITDA increased by 61.3% to $30.5 million, with a margin of 39.5%. The acquisition of RE/MAX INTEGRA's North American operations was completed, and the company plans to raise its revenue guidance for 2021. A quarterly dividend of $0.23 was approved, payable on August 31, 2021.
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