A drop in expenses was enough to offset falling revenue from franchise fees and annual dues that make up about 70% of RE/MAX's revenue, the company said on Thursday
After four consecutive quarters of declines, Motto Mortgage had 225 open offices at the end of 2024, down 8% from last year's peak of 246 on slower franchise sales and terminations
After seeing its open office count shrink this year for the first time ever, RE/MAX's mortgage franchisor brings new offices online in Arizona, South Carolina and Michigan
A new quarter saw continuing trends for RE/MAX Holdings in decreasing revenue and US agent count, but the franchisor also vastly improved its net income year over year
Franchise sales have slowed, and some existing franchisees have canceled their agreements, but Motto Franchising President Ward Morrison expects growth to resume when lending picks up
Total revenue declined by 8.3% YOY to $78.3M during Q1 2024, besting analysts' expectations for it to fall by 9.5%. News comes one quarter into Amy Lessinger's tenure as president
In a break with the past, most new franchisees signing up for Motto's 'mortgage brokerage-in-a-box' solution are real estate brokerages and teams that aren't affiliated with RE/MAX
RE/MAX announced it was making changes to its executive team after revenue fell for a sixth consecutive quarter to end 2023. Amy Lessinger will succeed Bailey as president
'Mortgage brokerage in a box' offering makes Entrepreneur's list of top franchise opportunities for a 5th consecutive year, despite challenging conditions for mortgage lenders
Erik Carlson comes to RE/MAX Holdings in the wake of Adam Contos' departure. He also joins the company at a tumultuous time for the real estate industry
The layoffs are part of a reorganization plan that will streamline operations and bring cost savings in the long term, the real estate franchisor said in Securities and Exchange Commission filings
Being named to Entrepreneur magazine's 2023 Franchise 500 list for the 4th year in a row puts some wind in the sails of the company's long-term goals
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Total revenue dropped 6.2% year over year and US agent count fell 5.4%, according to earnings data released Thursday as the real estate brokerage continues to wrestle with a shifting market
Brokerages, tech companies and mortgage providers all saw massive losses as the market soured at the end of 2022. But some leaders did have a few tricks up their sleeves