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RE/MAX Holdings, Inc. reports news about its franchise-based real estate and mortgage brokerage businesses. The company operates through the REMAX real estate brokerage brand and the Motto Mortgage brokerage franchise brand, with recurring updates on financial results, franchise network activity, brokerage affiliations, agent productivity, brand programs and housing-market reports.
Company announcements also cover material agreements, listing and technology initiatives, industry conferences, governance matters and capital-structure disclosures. News about RMAX is tied to residential real estate transaction trends, franchise recruiting and retention, mortgage brokerage expansion and the operating performance of its real estate, mortgage and marketing fund activities.
The 2022 RE/MAX Commercial Symposium, scheduled for September 11-13 in Tucson, Arizona, promises to equip commercial real estate professionals with essential strategies and connections. Keynote speakers include Futurist Greg Lindsay and Rick Sharga from ATTOM Data Solutions. Shawna Gilbert emphasizes the event's focus on navigating post-COVID market changes. Attendees will gain insights from notable speakers like Paul Rumler and Aubrie Kobernus, covering marketing tactics and land deal strategies. RE/MAX closed over $19 billion in commercial transactions in 2021, highlighting the industry's growth.
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Over 1,100 RE/MAX leaders attended the 2022 Broker Owner Conference in Nashville, emphasizing business growth strategies amid a rebalancing housing market. CEO Nick Bailey highlighted the network's resilience and introduced a new partnership with Inside Real Estate, providing agents access to kvCORE technology at no extra cost. The newly announced Team Pilot Program aims to strengthen team growth and retention, while discussions on M&A strategies were featured. The event concluded with motivational talks from industry leaders and a commitment to support agents during market changes.
RE/MAX Holdings (NYSE:RMAX) has appointed Susie Winders as General Counsel, Chief Compliance Officer, and Secretary as of August 8, 2022. Winders, with over 13 years at RE/MAX, previously served as Vice President and Assistant General Counsel, managing litigation and compliance. She will now lead the Legal and Contracts departments to support growth initiatives. Winders is the first woman in this role, recognized for her legal expertise and contributions to the company's success. RE/MAX operates globally with over 140,000 agents in 9,000 offices.
RE/MAX Holdings reported strong second quarter 2022 results, with total revenue up 19.3% to $92.2 million. Revenue excluding Marketing Funds grew 17.0% to $69.3 million, driven by 15.9% growth from acquisitions and 1.7% organic growth. Net income stood at $5.8 million, translating to $0.30 per diluted share. Adjusted EBITDA also saw a 14.4% increase to $35.1 million, with a margin of 38.1%. The agent count rose 2.7% to 143,939. However, the company reduced its full-year revenue guidance due to challenging market conditions.
On August 3, 2022, RE/MAX announced the inclusion of eight companies into its Approved Supplier program, enhancing access to essential services for affiliates in the U.S. and Canada. New suppliers include Curbio, a leading home improvement solution, and Pacaso, a modern co-ownership platform for luxury homes. The program offers exclusive discounts and a variety of services, from technology solutions to insurance, aimed at empowering RE/MAX agents. This initiative aligns with RE/MAX's goal of supporting its vast network of over 140,000 agents globally.
On August 2, 2022, RE/MAX Holdings (NYSE: RMAX) announced a quarterly cash dividend of $0.23 per share of Class A common stock, payable on August 30, 2022. Shareholders on record as of August 16, 2022 will receive this dividend. RE/MAX is a leading franchisor in the real estate industry with over 140,000 agents in nearly 9,000 offices worldwide. The company also operates Motto Mortgage, a national mortgage brokerage franchise.
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RE/MAX Holdings, Inc. (NYSE: RMAX) has announced strategic initiatives to enhance growth, including a new program to attract and develop real estate teams and a brokerage mergers-and-conversions initiative. The company is also increasing investment in its mortgage segment, with plans to achieve $100 million in annual revenue by 2028. Key operating metrics as of June 30, 2022, show a 2.7% increase in total agent count and a 22% rise in Motto Mortgage franchises. Furthermore, RE/MAX is entering a partnership to provide agents with advanced technology through kvCORE.
RE/MAX Holdings, Inc. (NYSE: RMAX) will announce its financial results for Q2 2022, ending June 30, after market close on August 4, 2022. A conference call and webcast for investors will take place the following day, August 5, at 8:30 a.m. Eastern Time. RE/MAX is a leading real estate franchisor with over 140,000 agents in nearly 9,000 offices across more than 110 countries. The company also operates Motto Mortgage, a national mortgage brokerage franchise.