Real Brokerage Agrees to Buy RE/MAX, Creating Real REMAX Group

Overview

• Real Brokerage and RE/MAX announced Monday they will combine under a new holding company called Real REMAX Group, bringing together more than 180,000 agents and about 8,500 franchisees.
• The combined company will be based in Miami, and RE/MAX’s Denver Tech Center headquarters will be folded into Real’s Florida operations with some functions expected to remain in Colorado.
• The transaction is structured as cash and stock, with RE/MAX shareholders able to elect cash or shares subject to limits, and Wall Street Journal reporting says Real investors would hold about 59% of the new company.
• The companies cited an $880 million enterprise value for the deal, while the Wall Street Journal estimated the effective value closer to $550 million after debt and ownership stakes are considered.
• RE/MAX and Motto Mortgage will keep their brands, Real plans to offer its reZEN back-office software to franchisees, and local brokers in Colorado say they are seeking clarity on fees, staffing and day-to-day workflows as integration begins.