The Real Brokerage Acquiring RE/MAX

The Real Brokerage is acquiring Re//Max Holdings in a deal valued at roughly $880 million, including debt, creating one of the largest tech-enabled real estate platforms. In California the Real Brokerage operates Surfline Escrow and also provides title services in certain states where it is licensed.

The announcement stated that “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.”
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Under the terms of the agreement, RE/MAX shareholders can opt for stock or cash. After the transaction, closes Real shareholders are expected to own about 59% of the new company. The transaction is expected to be accretive to Real’s earnings and adjusted EBITDA margins in the first full year after closing, excluding one-time merger and integration costs.