Bigger. Better. Bolder. Inman Connect is heading to San Diego. Join thousands of real estate pros, connect with the Inman Community and gain insights from hundreds of leading minds shaping the industry. If you’re ready to grow your business and invest in yourself, this is where you need to be. Go BIG in San Diego!
RE/MAX announced Monday that the president and CEO of its Motto Mortgage and wemlo subsidiaries will retire in June.
In a statement, the companies revealed that Ward Morrison’s retirement will be effective beginning June 15. He will then go on to work for the company in a “consultative role” until the end of the year. Meanwhile, Adam Sartin — a vice president of franchise growth and development — will lead Motto Mortgage and wemlo while the company searches for Morrison’s permanent replacement.
TAKE THE INMAN INTEL INDEX SURVEY FOR MARCH
Ward Morrison
The statement notes that Morrison is getting married in June and “has chosen to focus on spending quality time with his wife and living life to the fullest in this new season.”
“This was an incredibly difficult decision, but I know what I want for this next chapter of my life,” Morrison is quoted in the statement as saying. “I am so grateful for my time at Motto Mortgage, wemlo and RE/MAX, and am proud of what we all have accomplished. I look at how far Motto has come since our launch in 2016, and I’m confident the brand is positioned for continued success in the future.”
He added that his time leading Motto Mortgage has been “incredibly fulfilling.”
Morrison took the helm at Motto Mortgage after more than a decade in leadership roles at parent company RE/MAX. The statement notes that he was instrumental in launching the Motto brand, and in building out the brand’s franchising, adding that he “was responsible for shaping the growth strategy and overall business plan for the company.”
Recent months, however, have seen Motto Mortgage’s growth stall. In August, RE/MAX revealed that the number of Motto Mortgage offices was shrinking for the first time ever. The shrinkage happened as franchise sales slowed and as some existing franchisees canceled their agreements.
Office count numbers bounced back in November, but the trend didn’t hold, and in January, office counts shrank yet again — in that case to levels last seen in 2022. In total, there were 225 Motto Mortgage offices doing business at the end of 2024, down 8 percent from a year prior. The falling office count came after years of high mortgage rates, which have slowed home sales and sapped consumer demand for loans.
Despite those challenges, however, RE/MAX Holdings CEO Erik Carlson praised Morrison in Monday’s statement.
“Ward’s commitment to Motto Mortgage has had a profound impact on the real estate and mortgage industries,” Carlson said. “He was the perfect leader for the visionary brand that has disrupted the mortgage brokerage landscape. As happy as we are for Ward as he embarks on this new chapter, he will be missed.”
