U.S. RE/MAX Franchise Sales Climb 21% in Q3

Rhea-AI Summary

RE/MAX Reports 21.6% Increase in U.S. Franchise Sales for Q3 2023, with 45 Closed Sales and 166 Sales Outside the U.S. Worldwide. The Company Attributes the Growth to Focused Brokerage Opportunities and Continued Interest in Conversions, Mergers, and Expansions.

Positive

• RE/MAX saw a significant increase in U.S. franchise sales, indicating strong growth and market demand.
• The company's global presence and focus on providing value to franchisees are key factors in its success.

Negative

• None.

Over 200 New Sales Recorded, Nearly 250 Offices Renewed Worldwide 

DENVER, Nov. 14, 2023 /PRNewswire/ -- RE/MAX®, the #1 name in real estate¹, saw a substantial increase in U.S. franchise sales for third quarter 2023. The 45 closed sales between July 1 and Sept. 30 represented a 21.6% increase from the second quarter's 37 sales. The global franchisor also recorded 166 franchise sales outside the U.S., including nine in Canada.

The increase in sales is a testament to the company's sharp focus on brokerage growth opportunities like fresh national marketing and first-class industry and educational events, culture and value. Continuing high interest in conversions, mergers, acquisitions and expansions also helped drive the growth results. Of the 45 U.S. third-quarter franchise sales, 11 were start-ups, 10 were conversions, eight were expansions, 15 were team offices and one was a satellite office.

RE/MAX Foxfire, a previously unaffiliated brokerage of 165 agents in Ocala, FL, converted to RE/MAX in early October. Vice President and Director of Operations Owen Boone says, "For being a worldwide brand, the culture and connectivity that RE/MAX exudes is nothing short of impressive. Being able to lean into the network, the brand power, and for us, coming from an independent, the number of tools and resources available to us is just extraordinary. We truly believe we have the best of both worlds – an international brand with local roots."

Peter Luft, Vice President of Franchise Sales for RE/MAX, says RE/MAX is committed to providing real estate leaders with an exemplary brand that offers the highest value.

"RE/MAX attracts top-tier entrepreneurs because we let them be in business for themselves but not by themselves. We are constantly exploring new ways to provide greater value to our franchisees – and that attracts new owners and helps current owners grow."

RE/MAX has a presence in over 110 countries and territories – more 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 over 9,000 offices.

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 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.

¹ Source: MMR Strategy Group study of unaided awareness.

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SOURCE RE/MAX, LLC

FAQ

How many franchise sales did RE/MAX record in the U.S. for Q3 2023?

RE/MAX recorded 45 closed sales in the U.S. for Q3 2023, representing a 21.6% increase from the previous quarter.

What contributed to the growth in franchise sales for RE/MAX?

The company attributes the growth to focused brokerage opportunities, national marketing, educational events, and continued interest in conversions, mergers, and expansions.

Where does RE/MAX have a presence?

RE/MAX has a presence in over 110 countries and territories, making it the real estate brand with the most extensive global network.

What is the approach of RE/MAX towards franchisees?

RE/MAX is committed to providing real estate leaders with an exemplary brand that offers the highest value, attracting top-tier entrepreneurs and supporting current owners' growth.