RE/MAX Experiences Year-Over-Year Uptick in Franchise Sales and Renewals
RE/MAX®, the #1 name in real estate1, announced today that 206 additional franchises affiliated with the network during the first quarter of 2023 – nearly 17% more than in Q1 of 2022. Additionally, 293 existing RE/MAX brokerages, including 12 team offices, and two sub-regions renewed their agreements between January 1 and March 31, 2023.
Peter Luft, RE/MAX Vice President of Franchise Sales, says the strong franchise sales quarter confirms that real estate entrepreneurs see tremendous value in aligning with a strong brand and vast global network – especially as the housing market continues to rebalance.
"Relationships and services drive the real estate business," Luft says. "With the housing market in a state of adjustment, real estate brokerage owners are looking to align and stay with a brand that has a strong worldwide presence and a network of knowledgeable and committed professionals – their peers. RE/MAX had a strong quarter of franchise sales and renewals because the RE/MAX network provides layers of confidence and support for owners and agents."
RE/MAX remains focused on providing valuable networking opportunities through events such as the recent 2023 RE/MAX Global Commercial Symposium and the upcoming The RE/MAX Collection 2023 Luxury Forum. RE/MAX events are tailored to provide valuable resources to real estate professionals with a growth mindset.
Steve Silcock, Broker/Owner of RE/MAX Heritage in Florida, has experienced recent office growth of his own, expanding his operations this quarter through the acquisition of an unaffiliated brokerage. Silcock cites the strong RE/MAX brand presence as one of his greatest assets.
"Changing demographics and explosive growth in Central Florida have created a tremendous opportunity in the local residential market," Silcock says. "RE/MAX provides the technology and brand recognition that supports our continued expansion while allowing the core values and reputation of the brokerage to be carried forward."
RE/MAX also remains focused on technology and the roll out of MAX/TechSM powered by kvCORE, which began at the end of 2022 in Canada and has been accelerated to regions in the U.S. in 2023.
RE/MAX has a presence in more countries and territories than any other real estate brand. From a single office that opened in 1973 in Denver, Colorado, RE/MAX has grown into a global real estate network with more than 140,000 sales associates in over 9,000 offices and a presence in more than 110 countries and territories.
For more information about RE/MAX, LLC, a business that builds businesses, visit remax.com. Each office independently owned and operated.
1 Source: MMR Strategy Group study of unaided awareness.