RE/MAX has acquired North American regions from RE/MAX Integra, its largest franchisee. The announcement comes alongside news that Chief Customer Officer Nick Bailey is being promoted to president.

RE/MAX has acquired one of its last and largest independently-owned regions for $235 million, according to an announcement on Thursday, which also included news that Chief Customer Officer Nick Bailey is being promoted to president, effective immediately.

RE/MAX Integra’s North American regions, which includes 19,000 agents and 1,100 offices across Canada and the United States, will operate as a company-owned region once the deal closes during the third quarter of 2021.

RE/MAX Integra North America covers five Canadian provinces (New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, and Prince Edward Island) and nine U.S. states (Connecticut, Indiana, Maine, Massachusetts, Minnesota, New Hampshire, Rhode Island, Vermont and Wisconsin).

Frank Polzler and Walter Schneider

“Frank [Polzler] and I knew RE/MAX was special from the very beginning in 1980,” RE/MAX Integra President and Co-Founder Walter Schneider said in a prepared statement. “We were excited about taking an incredibly solid concept that we could help build from the ground up.”

“It’s been a wonderful journey and the friendships we’ve made along the way will last a lifetime,” he added. “We are confident in the leadership of Adam Contos, Nick Bailey, and the entire RE/MAX, LLC team, as well as in their ability to facilitate a  smooth transition and ensure a bright future for our Affiliates in North America.”

RE/MAX Holdings CEO Adam Contos said the acquisition of RE/MAX Integra is “the most significant in the history of [the] company” and a crucial part of the brokerage’s long-term growth strategy. Since its IPO in 2013, RE/MAX has purchased 15 independent regions across the United States.

Adam Contos

Adam Contos | Photo credit: RE/MAX

Only 11 states and regions remain in independent regions in the U.S. and Canada, according to a company map.

“The addition of these strategic and geographically desirable regions enhances our ability to continue to scale, brings many attractive growth opportunities, and simplifies our operational structure by creating greater efficiencies,” Contos said in a prepared statement. “I wish to thank RE/MAX Integra co-founders Frank Polzler and Walter Schneider – and their amazing families – for their dedication and passion in growing the RE/MAX brand over the 40-year tenure with our network.”

Contos explained Polzler and Schneider will continue to own and manage Integra’s European operations, RE/MAX Europe, which includes 29,000 agents across six countries. “Their RE/MAX story moves forward with Integra’s RE/MAX Europe region, where they’ll continue to have a positive impact on region owners, franchisees, sales associates and consumers,” he said.

Nick Bailey | Credit: RE/MAX

In addition to the acquisition of RE/MAX Integra, RE/MAX also announced a c-suite shakeup, with Chief Customer Officer Nick Bailey being promoted to president of RE/MAX. Bailey will be in charge of RE/MAX’s domestic and international growth strategy.

“Adding almost 19,000 agents to our company-owned regions gives us the opportunity to scale faster than we have been able to in the past,” Bailey said. “It means more agents on the same systems, using the same products, combining resources, and delivering a more consistent customer experience.”

“This, coupled with our revamped technology stack, which is just beginning to gain traction, creates the perfect time to bring our biggest client back under the tent so that even more RE/MAX agents will have unfettered access to our tools, training and technology,” he added.

Email Marian McPherson

RE/MAX
Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription