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.
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.”