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RE/MAX expanded its presence in Southern California considerably this week with the alignment of a previously unaffiliated brokerage.
Long Beach-based Proper Real Estate has affiliated with the global franchisor, bringing along 70 agents and rebranding to RE/MAX Proper.
“We wanted to grow at a rapid pace all while having the ability to provide pivotal tools that our agents need to win,” RE/MAX Proper CEO Paul Natividad said in a statement. “Partnering with the largest real estate franchise in the world, with some of the most top-producing agents in the world, was a no-brainer for us.”
The brokerage serves clients from the Santa Maria to San Diego coastlines, specializing in single and multifamily homes, investment properties commercial buildings and land. Partners Jenny Pok, Natividad and Mike Sanchez will continue leading the brokerage.
Broker of Record Pok said the tools and brand recognition offered by RE/MAX helped sell them on the conversion.
“This conversion has virtually all positive effects for our agents,” Pok said. “They get to be a part of a big-name brand with international reach; they get top-notch tools and a value proposition that is unmatched by other major brands. On top of all that, they get to be on a global team with over 140,000 members that can support each other in their growth needs.”
The conversion comes as RE/MAX’s agent count continues to decline, with its earning report released this week showing a 5.4 percent annual decline in its U.S. agent count, but a 2.6 percent increase in its Canada agent count.
“Given the industry conditions, we anticipated pressure on our U.S. agent count to start the year but did see some encouraging trends toward the end of the first quarter,” RE/MAX Holdings CEO Steve Joyce said in a first-quarter earnings statement.
RE/MAX also saw its total revenue drop 6.2 percent year over year during the first quarter to $85.4 million.
On a call with investors Friday morning, Joyce expressed an overall positive outlook for the rest of the year, Inman recently reported.
“We’re investing in the business, we’re continuing to return capital to shareholders — particularly through the dividend — and we’re looking at what could be an improving environment,” Joyce said. “If that environment improves — that’s not baked into our numbers — so our sense is we’re seeing some positive signs and we’ll see if that continues through the rest of the year.”
