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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 Holdings, Inc. (NYSE: RMAX) announced the acquisition of North America regions from RE/MAX INTEGRA for approximately $235 million. This acquisition will add nearly 19,000 agents and over 1,100 offices into the RE/MAX, LLC Company-Owned Regions. CEO Adam Contos emphasized this as the largest regional acquisition in company history, enhancing growth opportunities and operational efficiencies. Nick Bailey has been promoted to President of RE/MAX, LLC. The deal is expected to close in Q3 2021, pending customary conditions and financing.
RE/MAX has announced that its proprietary First® app has significantly boosted productivity for its agents since its launch in early 2020. Notable statistics include a 9% average productivity increase for users and over 33,000 new listings identified from agents' contacts. Agents utilizing the app win an average of eight listings within three months. The app, acquired from a North Carolina tech company, leverages machine learning to enhance business opportunities, which is critical given the historically low housing inventory in the U.S.
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The 2021 Coaches Corner Live Tour presented by RE/MAX will take place across 13 cities, starting on June 8 in Houston and concluding on August 6 in Austin. The event features renowned coaches such as Tom Ferry, Jared James, and Wayne Fredrick, designed to equip real estate professionals with strategies to excel in a changing market. Registration is $25, with a waiver for the first 50 registrants per city. For more details, visit www.CoachesCornerLiveTour.com.
RE/MAX Holdings (RMAX) reported strong first quarter results for 2021, with a 6.4% increase in agent count to 140,214 and total revenue of $72.3 million, representing a 2.9% year-over-year growth. Net income fell to $1.1 million and GAAP EPS decreased to $0.06. Adjusted EBITDA rose 18.5% to $23.2 million, with an adjusted EPS of $0.46. The company anticipates an agent count increase of 7.0% to 8.0% and revenue of $74.0 million to $78.0 million for Q2 2021. A quarterly dividend of $0.23 per share was also approved.
RE/MAX Holdings, Inc. (NYSE: RMAX) has declared a quarterly cash dividend of $0.23 per share of Class A common stock, payable on June 2, 2021. Shareholders must be on record by the close of business on May 19, 2021. As a leading franchisor in real estate, RE/MAX operates globally with over 135,000 agents in more than 110 countries. The company continues to innovate in the real estate and mortgage sectors, having launched Motto Mortgage in 2016, which has expanded to over 125 offices across 30 states.
RE/MAX has been ranked as one of the top three enterprises and franchise brands in the 2021 Enterprise 20 report by T3 Sixty, based on 2020 sales volume and agent productivity. The report highlights RE/MAX agents' productivity, averaging 15.7 transaction sides per agent, which is more than double that of other companies in the report. CEO Adam Contos emphasizes that this ranking validates RE/MAX agents' success in serving clients effectively. The Enterprise 20 is part of the Real Estate Almanac, showcasing various rankings in the real estate industry.
On April 12, 2021, RE/MAX Holdings CEO Adam Contos will speak at the NAHREP 2021 National Convention, focusing on the impact of COVID-19 on Hispanic homeownership. Contos will discuss the significance of the Latino demographic in driving homeownership growth in the U.S. Despite economic challenges, Latinos are the fastest-growing group of homeowners. RE/MAX's continued support for NAHREP emphasizes its commitment to addressing barriers faced by Hispanic potential homeowners, positioning the company as a key player in this market.
RE/MAX Holdings, Inc. (NYSE:RMAX) will announce its financial results for Q1 2021 on May 6, 2021, after market close. The company, a prominent franchisor in real estate brokerage and mortgage services, will host a conference call on May 7, 2021, at 8:30 a.m. Eastern Time. RE/MAX operates over 135,000 agents globally and launched Motto Mortgage in 2016, which has exceeded 125 offices across more than 30 states. Access to the conference call will be available via the company's Investor Relations website.