Markets & Economy

Re/Max saw agent growth boom in 1Q

Agent ranks swelled by 1,945, the most in any quarter for the firm since 2006

Global real estate franchisor Re/Max added more agents to its pack in the first quarter 2015 than in any quarter since 2006, the firm reported in its earnings statement released today.

The Denver-based firm crested the 100,000-agent mark in April, but ended the first quarter with 99,995 troops after adding 1,945 agents in the first three months of 2015.

Re/Max also reported a net profit of $9.1 million on $44.2 million in revenue in the quarter, a 5.6 percent revenue bump from the same quarter a year ago.

The firm attributed the revenue growth primarily to its increase of 5,570 agents over that time span. (Re/Max agents in the U.S. pay an annual fee of $390 to the firm.)

“In the first quarter, we experienced our strongest quarterly agent gain since the first quarter of 2006 and we surpassed the 100,000-agent mark in April, strong proof that our agent-centric business remains a destination for quality agents,” said Re/Max co-founder and CEO Dave Liniger in a statement.

Re/Max said it expects agent count growth to continue on a similar trajectory in the second quarter.

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