search

The Real Deal Logo

Trending

LA court strikes down SB9 law allowing single-family lot splitsLA court strikes down SB9 law allowing single-family lot splitsBrookfield’s deal to sell 777 Tower in Downtown LA collapsesBrookfield’s deal to sell 777 Tower in Downtown LA collapsesHousing deal finally passes; here are the detailsHousing deal finally passes; here are the detailsLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a
Residential
New York

Re/Max took in $53M in revenue during 2018’s first quarter

Operating expenses, agent count and earnings were all higher than in 2017

Re/Max's Adam Contos
Re/Max's Adam Contos

Re/Max Holdings Inc. took in $52.6 million of revenue in the first quarter of 2018, an 11 percent increase from the first quarter of 2017.

The company’s agent count rose as well to 120,821, a 6.2 percent boost, according to Inman. Its growth was anchored by higher revenue from its annual agent conference, increasing home prices and an expansion of its mortgage franchise Motto. The firm also acquired the real estate tech company booj.

Sign Up for the undefined Newsletter

Operating expenses at Re/Max went up in the first quarter of 2018 as well, rising 19.3 percent to $38.9 million due largely to higher operating, administrative and selling expenses.

Re/Max CEO Adam Contos told Inman that the company’s “network of highly productive agents combined with our differentiated business model gave us a built-in and unique competitive advantage.”

Realogy Holdings yesterday announced a $67 million loss, which executives attributed to a slowdown in new development sales and higher commissions at its NRT division. [Inman] – Eddie Small