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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 hosted its 2021 Broker/Owner Conference in Austin, TX from August 8-10, focusing on business growth, recruitment, and profitability. Key sessions featured CEO Adam Contos highlighting RE/MAX's innovative spirit and commitment to technology enhancements, aiming to support over 200,000 agents globally. New tools include the exclusive RE/MAX First® app with added recruiting features and a revamped RE/MAX University® launching in October 2021. The conference also announced family health insurance options for affiliates and the return of the R4 convention in Las Vegas in 2022.
RE/MAX Holdings reported strong second-quarter 2021 results, highlighting a total revenue of $77.2 million, up 48% year-over-year. Net income reached $5.2 million with GAAP EPS of $0.27. The company added over 8,000 agents, reflecting a 6.3% increase in total agents globally. Adjusted EBITDA increased by 61.3% to $30.5 million, with a margin of 39.5%. The acquisition of RE/MAX INTEGRA's North American operations was completed, and the company plans to raise its revenue guidance for 2021. A quarterly dividend of $0.23 was approved, payable on August 31, 2021.
RE/MAX Holdings (NYSE: RMAX) has completed the acquisition of the North American regions from RE/MAX INTEGRA, expanding its network by over 19,000 agents (12,000 in Canada, 7,000 in the U.S.) and 1,100 offices. The acquisition is part of RE/MAX's growth strategy, marking the largest regional purchase to date. Additionally, the company amended its Credit Agreement to raise $460 million to repay existing debt and fund the $235 million acquisition. The integration aims to enhance operational efficiency and growth opportunities, with further financial guidance to be released on August 5, 2021.
RE/MAX, LLC announced the addition of five new companies to its Approved Supplier program aimed at enhancing services for agents. The new suppliers include 1800BusinessCards, eLead Network, Payload, RateMyAgent, and Stagerie, providing tools for marketing, lead generation, digital payments, and reputation management. These resources are available via the RE/MAX Marketplace, offering exclusive discounts for agents. This expansion emphasizes RE/MAX's commitment to equipping agents with comprehensive business solutions.
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RE/MAX Holdings, Inc. (NYSE:RMAX) will announce its financial results for Q2 2021 on August 4, 2021, after market close. A conference call for stakeholders is scheduled for August 5, 2021, at 8:30 a.m. Eastern Time. RE/MAX is a leading global real estate franchisor, with nearly 140,000 agents in over 110 countries. The company also operates Motto Mortgage, which has expanded to over 150 offices since its launch in 2016. Investors can access the conference call and webcast through the company's Investor Relations website.
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RE/MAX, LLC will host its 2021 Broker Owner Conference (BOC) in Austin, Texas, from August 8-10, featuring diverse speakers like Grammy-winning composer Eric Whitacre and athlete Gilbert Tuhabonye. The conference targets RE/MAX brokers, owners, and managers, emphasizing inspiration and innovative business strategies. Early bird registration costs $550, increasing to $650 after July 1 and $750 on-site. RE/MAX, a leading global real estate franchisor, has nearly 140,000 agents worldwide and is known for its entrepreneurial culture.
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