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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 Holdings, Inc. (NYSE: RMAX) announced a quarterly cash dividend of $0.22 per share of Class A common stock. The dividend will be payable on December 2, 2020, to shareholders of record by the close of business on November 18, 2020. With over 130,000 agents in more than 110 countries, RE/MAX leads the global real estate franchise market. This announcement reflects the company's commitment to returning value to shareholders while continuing its growth in the real estate and mortgage sectors.
RE/MAX Holdings (RMAX) released its operational and financial outlook for Q3 2020, forecasting a 4.0%-4.5% increase in agent count and projected revenue between $69.0 million and $71.0 million. The company also announced the acquisition of the Gadberry Group, enhancing its technological capabilities. This acquisition, alongside the previously announced wemlo acquisition, aims to diversify RE/MAX's revenue streams. Despite expecting these acquisitions to be accretive to Adjusted EBITDA in 2022, immediate financial impacts are anticipated to be negligible.
RE/MAX has expanded its global footprint by entering four new countries: Belgium, Moldova, North Macedonia, and St. Lucia, increasing its presence to over 110 countries and territories. Despite pandemic challenges, the network's agent count outside the U.S. and Canada grew by 14% year-over-year in Q2 2020, with more than 6,000 new agents. The brand's innovative approach, including virtual recruitment and training, is enhancing its resilience. RE/MAX was also ranked No. 11 on Entrepreneur magazine's Top Global Franchise list, reinforcing its market leadership.
On Sept. 1, 2020, RE/MAX Holdings (NYSE: RMAX) announced the acquisition of wemlo, a fintech startup focused on mortgage loan processing. This strategic move aims to enhance the functionality of Motto Mortgage, addressing critical inefficiencies in the brokerage sector. The acquisition is expected to diversify revenue streams and boost operational efficiency, providing a competitive edge in the market. CEO Adam Contos highlighted that this investment aligns with RE/MAX's M&A strategy to foster innovative companies that improve customer experience.
The RE/MAX Collection announces its Luxury Forum, taking place virtually on September 24, 2020, featuring notable speakers such as Olympian Apolo Ohno and esteemed coach Valorie Kondos Field. The event aims to educate luxury real estate agents on overcoming challenges in the market. Registration is available for RE/MAX Affiliates at $75, with an optional Luxury Live course on September 25 for $495. The forum will provide insights into the evolving luxury market post-COVID-19, emphasizing the need for excellence and adaptability in real estate.
RE/MAX hosted its 2020 Broker Owner Conference virtually on August 17-18, attracting nearly 2,000 leaders from 45 countries. The event, themed 'One World, One RE/MAX,' featured significant discussions led by CEO Adam Contos, emphasizing adaptations amid COVID-19. Contos introduced new marketing tools, professional development courses, and a technology portal named RE/MAX Marketplace. The conference also focused on diversity and inclusion, culminating in a dialogue with activist Baratunde Thurston. Additionally, the next conference is scheduled for Austin, TX, on August 8-10, 2021.
RE/MAX Holdings reported a total revenue of $52.2 million for Q2 2020, down 26.9% from Q2 2019, mainly due to COVID-19 financial support initiatives. Net income decreased to $3.5 million with GAAP EPS at $0.19, down from $0.48. Agent count rose 3.8% to 131,905, but U.S. and Canada combined count fell 1.4%. Adjusted EBITDA was $18.9 million with a margin of 36.2%. The company declared a quarterly dividend of $0.22 per share, payable September 2, 2020.
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