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 (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.
RE/MAX has expanded its Approved Supplier program by adding eight new companies offering business services to its network. This initiative is designed to enhance RE/MAX affiliates' operations through the RE/MAX Marketplace, a portal for exclusive deals on digital products, services, and technology. New suppliers include BRANDco, Canon, Hemlane, Listen360, Leatherman, PayProp, Skyways Media, and SWAT Environmental. These additions aim to provide RE/MAX agents with essential tools and resources, including marketing support, property management solutions, and customer feedback options.
RE/MAX hosted its first hybrid annual convention, R4 Your Way, in Orlando on March 25, 2021, with over 6,000 attendees globally. The event showcased achievements of 135,000 agents, who closed 1.78 million transactions in 2020. Notable announcements included a new health benefits program for agents starting April 1, support for Children’s Miracle Network Hospitals surpassing $170 million, and innovative marketing tools like Megaphone and Snappr. The convention emphasized the organization's commitment to professional development and community support.
The 2021 REAL Trends 500 survey reveals that RE/MAX agents surpassed competitors by over 2-to-1 for the 11th consecutive year, averaging 16.0 transaction sides per agent compared to 7.3 for other large brokerages. RE/MAX brokerages constituted 29% of the 1,753 qualifying brokerages, more than any other brand. Agents averaged $5.0 million in sales volume, a 67% increase over the $3.0 million average of competitors, and 87 of the top 100 agents in sales were from RE/MAX. This survey underscores RE/MAX's dominant position in the real estate market.
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On March 3, 2021, RE/MAX Holdings announced significant growth in 2020, despite pandemic challenges, selling over 1,000 franchises and renewing more than 1,100 brokerages. The company expanded its presence to several new markets including Belgium and Qatar, and added almost 7,000 agents globally. Executives attribute success to a robust business model and enhanced support tools for agents. With over 135,000 sales associates in over 110 countries, RE/MAX aims to further increase its market share in 2021.