Brokerage

Re/Max had more agents, less revenue in Q2

The franchisor's total agent count grew to 109,960
  • Second quarter revenue was down 2 percent to $43.4 million.
  • Agent count increased 7.9 percent year-over-year.

Although its quarterly income showed some shrinkage quarter-over-quarter, the robust agent count growth at Re/Max has helped the company continue to expand its footprint in the U.S. and around the world. Re/Max had an excellent second quarter of 2016 in terms of increasing its number of agent operatives. The company's quarterly earnings report showed that agent count increased 7.9 percent 109,960 agents. The company's operating expenses decreased 1 percent from the previous year's second quarter to $22.7 million. Revenue decreased 2 percent year-over-year from the second quarter of 2015 to $43.4 million. The total agent count at Re/Max grew 7.9 percent to 109,960 agents. "Robust agent-count growth led to solid second quarter results. Combined agent-count growth in the U.S. and Canada, where revenue per agent is the highest in our global network, was at the high end of our expectations, while international agent-count growth exceeded our estimates," said Dave Liniger, CEO a...