RE/MAX® Posts Strong Q3 Franchise Sales, Retention Results

Rhea-AI Summary

RE/MAX has announced strong performance in Q3 2022, with over 200 new franchises and the renewal of more than 245 offices. The total agent count rose by 2.4% year-over-year, reaching 144,300 agents, marking a new high. The brand has expanded into the Republic of Benin and is launching strategic initiatives to support franchisees amidst market fluctuations. RE/MAX maintains its global presence with nearly 140,000 agents across more than 110 countries, emphasizing its established reputation in the real estate sector.

Positive

• Secured over 200 new franchise agreements in Q3 2022.
• More than 245 brokerages renewed franchise agreements.
• Total agent count increased by 2.4% year-over-year to 144,300, a new record.
• Expanded brand presence in the Republic of Benin.
• Implemented strategic initiatives to support franchisee growth.

Negative

• None.

The brand inked agreements for 200+ franchises and renewed over 245 affiliated offices from July-September 2022 

DENVER, Nov. 30, 2022 /PRNewswire/ -- RE/MAX, the #1 name in real estate¹, announced today that over 200 franchises affiliated with the network during the third quarter of 2022. Furthermore, more than 245 brokerages renewed their franchise agreements. During this period, RE/MAX also expanded the brand's presence to the Republic of Benin.

As announced in the RE/MAX Holdings, Inc. third quarter earnings release, total agent count grew by 2.4% year-over-year to a new high of 144,300. According to Peter Luft, RE/MAX Vice President of Franchise Sales, RE/MAX agents are known for their experience and high productivity. That makes RE/MAX an attractive proposition for franchisees and agents looking to fortify their businesses amid a changing market.

"RE/MAX is home to top producers, as well as those who strive to become top producers," Luft says. "During periods of market fluctuations, having the support of a brand that has navigated decades of ups and downs appeals to professionals who are focused on being productive no matter what might be happening in the market."

During the quarter, Broker/Owner David Young announced his previously unaffiliated offices in the Finger Lakes region of New York will align with the brand and open as RE/MAX Revolution in early 2023. Citing RE/MAX brand awareness as one of the reasons for the move, Young notes, "I sought out RE/MAX when I noticed their strong web presence in my area. I had never planned to franchise, but the more I learned about the global brand, the more interested I became. I realized that if I wanted to be the best, I needed to partner with the best. Joining RE/MAX has been the best move of my 21-year career in real estate."

Nearing the brand's 50^th year anniversary, RE/MAX has rolled out several strategic initiatives designed to help franchisees take their brokerages to the next level. By going big with real estate teams, expanding efforts around conversions, mergers and acquisitions, and providing best-in-class technology products such as MAX/Tech^SM powered by kvCORE – which began a phased rollout earlier this year – RE/MAX is focused on attracting top talent.

RE/MAX has a presence in more countries and territories than any other real estate brand. From a single office that opened in 1973 in Denver, Colorado, RE/MAX has grown into a global real estate network with more than 140,000 sales associates in almost 9,000 offices and a presence in more than 110 countries and territories.

For more information about RE/MAX, LLC, a business that builds businesses, visit remax.com. Each office 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 nearly 140,000 agents 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.

¹ Source: MMR Strategy Group study of unaided awareness.

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SOURCE RE/MAX, LLC

FAQ

What franchise agreements did RMAX secure in Q3 2022?

RMAX secured over 200 new franchise agreements in Q3 2022.

How many brokerages renewed their agreements with RMAX?

More than 245 brokerages renewed their franchise agreements with RMAX.

What was the year-over-year growth in total agent count for RMAX?

RMAX's total agent count grew by 2.4% year-over-year, reaching 144,300.

Where has RMAX recently expanded its presence?

RMAX recently expanded its presence to the Republic of Benin.

What strategic initiatives is RMAX implementing for franchisees?

RMAX is implementing initiatives that focus on real estate teams, conversions, mergers, acquisitions, and technology support.