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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.
RE/MAX, LLC announced the sale of over 1,000 franchises and renewal of more than 1,100 brokerages in 2021, showcasing significant growth. In Q4 alone, approximately 450 new franchises were sold. The company achieved a milestone, with agents closing over 2 million transaction sides, a record in the real estate industry. RE/MAX emphasizes solid support for its affiliates and continues to enhance its training and technology offerings. Celebrating its 50th year, RE/MAX operates globally with over 140,000 agents in nearly 9,000 offices, underscoring its dominance in residential transactions.
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On March 2, 2022, RE/MAX held its annual R4® convention in Las Vegas, attended by over 7,000 franchise owners and agents from 42 countries. RE/MAX President Nick Bailey announced that agents closed more than 2 million transaction sides in 2021, marking a first for any real estate brand. Agents achieved productivity averages of 16.3 sides/agent in the U.S., 20.4 sides/agent in Canada, and 9.9 sides/agent globally. The convention unveiled new programs, including a partnership for the REAL TEAMS® Solution and welcomed Steve Joyce as Co-CEO.
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RE/MAX Holdings reported a robust full-year 2021 with total revenue rising 23.9% to $329.7 million, driven by 11.8% organic growth, 9.8% acquisitions, and 1.1% from currency movements. Despite a net loss of $15.6 million, Adjusted EBITDA grew 29.3% to $119.7 million. The agent count increased 3.1% to 141,998. Looking ahead, RE/MAX anticipates revenue between $366.0 million and $376.0 million for 2022. The company also authorized a $100 million stock repurchase program, reflecting confidence in financial stability.
RE/MAX Holdings, Inc. (NYSE: RMAX) has declared a quarterly cash dividend of $0.23 per share of Class A common stock, payable on March 16, 2022, to shareholders on record by March 4, 2022. The CFO, Karri Callahan, emphasized the company's commitment to returning capital to shareholders while pursuing growth and generating free cash flow. RE/MAX operates globally with over 140,000 agents in nearly 9,000 offices. The company continues to evaluate its capital deployment strategies to enhance shareholder value.
RE/MAX, LLC has successfully closed the sale of Master Franchise Rights in Kazakhstan and Uzbekistan, marking its first entry into Central Asia. The agreements were signed with local entrepreneurs Batjargal Bazarsuren and Safa Karaduman. This move is part of RE/MAX's broader strategy to expand into the Euro-Caucasus Region, enhancing its global footprint. The franchise aims to improve the local real estate markets by introducing higher standards and ethical practices, aiming to cater to the growing economies of these nations.
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On February 14, 2022, RE/MAX announced the addition of three companies to its Approved Supplier program, enhancing resources for agents in the U.S. and Canada. The new suppliers are Brokerage Engine, which provides an all-in-one back-office platform; Exposio, offering AI-driven HDR photography solutions; and PropTexx, specializing in AI-enhanced property marketing tools. These suppliers present exclusive discounts on various services, empowering RE/MAX agents to optimize their business operations and improve client service.
RE/MAX announced its 2022 R4 convention, scheduled from February 28 to March 2 in Las Vegas. The event aims to equip brokers and agents with innovative strategies, featuring prominent speakers including Nick Bailey, Adam Contos, and Luvvie Ajayi Jones. Attendees can participate in pre-conference sessions starting February 26, focusing on skill enhancement and certification opportunities. RE/MAX, with over 140,000 agents globally, emphasizes its leadership in residential transactions, maintaining a strong community presence through charitable efforts.