Re/Max boosts revenue by 5 percent as agent count grows to 93,000

Franchisor plans to raise agent dues and franchise fees

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Denver-based franchisor Re/Max grew its agent count 4.3 percent from a year ago, to 92,731, and posted a $7.7 million third-quarter profit as revenue grew 5 percent from a year ago, to $40.3 million, the company said in reporting quarterly earnings for the first time since completing an initial public offering in October that netted $225 million. Re/Max added a net of 2,325 agents in the U.S. and 129 in Canada during the 12 months ending Sept. 30, bringing the total number of agents in the two countries that account for approximately 90 percent of the company's revenue to 73,245. The firm is also accelerating its international growth, where it has 19,486 affiliated agents, Re/Max CEO Margaret Kelly said. Re/Max gets a portion of the fees generated when a master franchise affiliate sells off regions in its country and additional revenue when those regions sell offices. In addition to the overseas focus, Re/Max also has plans to raise the dues and franchise fees that make up th...