RMAX - Re/Max signs nearly 17% more franchise sales Y/Y in Q1

2023-05-19 10:36:08 ET

Re/Max Holdings ( RMAX ) said Friday it has signed 206 new franchise sales during Q1, up almost 17% from the year-ago quarter, as the housing market continues to rebalance.

In addition, 293 existing Re/Max brokerages, including 12 team offices, and two sub-regions renewed their agreements for the three months ended March 31.

The "strong quarter of franchise sales and renewals because the RE/MAX network provides layers of confidence and support  for owners and agents," said Peter Luft, vice president of Franchise Sales at Re/Max.

RMAX gained 0.3% in Friday morning trading, but slid 15.1% from the year-earlier period.

The franchisor of real estate and mortgage brokerage services has a network of more than 140K sales associates in over 9K offices and a presence in over 110 countries and territories.

More on Re/Max

• Re/Max reports Q1 results, sees FY 2023 revenue under consensus

• Re/Max downgraded to Equal-Weight at Stephens due to lack of catalysts

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