Denver-based franchisor Re/Max LLC will now have the right to sign up Re/Max franchisees in Texas after taking ownership of the "master franchise" region.
Richard and Jeanne Filip, owners of Houston-based Re/Max of Texas since 1996, agreed to transfer ownership of the master franchise for the state of Texas late last year. They remain the owners of several individual Re/Max brokerages.
Re/Max LLC now owns 10 of 32 U.S. master franchise regions, and 12 of 158 worldwide, said Shaun White, a spokesman for the company.
Owners of Re/Max master franchise regions have the exclusive right to sell new franchises in that region, White said. Some regions are delineated by state boundaries, he said. Others, like Re/Max Pacific Northwest, are defined by geographic areas. Some, like Re/Max China and Re/Max Australia, cover entire countries.
Re/Max LLC has a network of 90,000 agents in 85 countries and claims to have the largest international presence of any real estate organization.
Re/Max LLC last added master franchise regions to its control in 2007, when it purchased Re/Max California and Hawaii, Re/Max Florida and Re/Max Carolinas.
There are 260 offices and 4,300 agents affiliated with Re/Max of Texas.
"For more than 30 years Richard and Jeanne (late owners of Re/Max of Texas) have been dedicated to RE/MAX, and after they became region owners, they built an impressive network of offices and agents across the state of Texas," said Dave Liniger, Re/Max co-founder and chairman, in a statement.
"From the beginning, those affiliated with RE/MAX of Texas have benefited from incredible support for their business, like leading marketing and advertising campaigns, innovative technologies and state-of-the-art training," said Richard Filip. "None of that will change."
The current Re/Max of Texas staff will remain on the job for the foreseeable future, the companies said.