The Real Brokerage Inc. (NASDAQ: REAX) (“Real”), a leading technology-powered real estate brokerage, and RE/MAX Holdings, Inc. (NYSE: RMAX) (“RE/MAX Holdings”), the parent company of RE/MAX, LLC (“REMAX”), one of the world’s leading franchisors of real estate brokerage services, today announced that they have entered into a definitive agreement under which Real will acquire RE/MAX Holdings to create a leading technology-enabled global real estate platform named Real REMAX Group. The transaction implies an enterprise value for RE/MAX Holdings of approximately $880 million, representing a fully synergized multiple of 7x 2025 EBITDA. The transaction is expected to be accretive to Real’s earnings and Adjusted EBITDA margin within the first full fiscal year following the close of the transaction, excluding non-recurring merger and integration related expenses.
The acquisition brings together two complementary business models, uniting Real’s AI-powered, high-growth brokerage platform, proprietary software and vibrant agent community with REMAX’s iconic real estate brand and expansive global franchise network with a presence in more than 120 countries and territories and more than 145,000 agents. The combined company will deliver a differentiated end-to-end home buying and home selling experience for the combined company’s nearly 8,500 franchisees and 180,000+ agents, more than 100,000 of whom are based in the U.S. and Canada. REMAX and Motto Mortgage, the first and only national mortgage brokerage franchise brand in the U.S., will continue to operate under their current brands. Real will continue to operate as an owned brokerage under the Real brand.
“This acquisition is an important step on our journey to build a technology platform that empowers real estate professionals and improves the consumer experience,” said Tamir Poleg, Chairman and Chief Executive Officer of Real. “Bringing together Real’s technology and operating model with REMAX’s global reach and franchise model is a transformational moment for the industry. Together, we will create a more innovative, more productive and more connected real estate ecosystem that we believe will generate substantial long-term value for agents, franchisees, consumers and shareholders.”
“REMAX is pleased to announce this transaction with Real to create a leading global real estate platform,” said Erik Carlson, Chief Executive Officer of RE/MAX Holdings. “Real brings differentiated, best-in-class technology that we believe will drive greater choice, higher productivity and expanded support to our network. By joining forces, we will be positioned to deliver a more enhanced experience for all stakeholders – from agents to franchisees to consumers to shareholders – all while strengthening the culture and flexibility that make our brands special.”
“This is an extraordinary day in the history of REMAX, and I’m thrilled for what this transaction means for REMAX franchisees, agents and clients, as well as shareholders,” said Dave Liniger, REMAX Co-Founder and Chairman of the Board. “When Gail and I founded REMAX in 1973, we built a company for business-minded entrepreneurs with a customer-service mindset. For more than 50 years, REMAX has attracted trusted, productive professionals, shaped the real estate industry, and changed the lives of buyers and sellers around the world. To see the incredible momentum and strength of the REMAX brand today, I know now is the right time and Real is absolutely the right partner to move REMAX into the future. Gail and I look forward to watching REMAX enter its next chapter alongside Real.”
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