Industry News

RE/MAX buys back major regional operation

Region services 448 franchise offices

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RE/MAX International, a major real estate franchise company, on Tuesday announced an agreement to acquire RE/MAX of California & Hawaii, an independently owned regional operation that serves 448 independently owned and operated franchise offices and 10,270 sales associates. Transfer of the regional operations to the Denver-based company is expected to be concluded by mid-April. It is the latest -- and largest -- in a series of regional acquisitions for RE/MAX International. Regional operations provide advertising such as television and billboard ads, and also conduct training and meetings for local franchise offices. In addition to the 12 company-owned regions, there are about 20 independently owned RE/MAX regions in the United States, and most of the company's international regions are operated independently, said RE/MAX chairman and co-founder Dave Liniger. "I would anticipate that RE/MAX International will continue to make acquisitions like this. All of our independent regio...