RE/MAX expands its reach in Canada

by Ryan Smith09 Nov 2015
RE/MAX grew its global agent count by nearly 5,900 through the third quarter, with nearly 400 new agents in Canada alone.

In Canada, RE/MAX’s agent count increased by 399 for a total of 19,506 agents, a 2.1% increase from the prior year. Worldwide, the company’s agent count increased by 5,844, for a total of 103,491 RE/MAX agents worldwide.

“Our global network of highly productive agents continues to grow, gaining nearly 5,500 agents in the first nine months of the year, our best agent growth on an absolute and percentage basis in the last 10 years," said Dave Liniger, CEO and co-founder of RE/MAX.

”We continue to see positive indicators in our industry and our business even as we enter the slower part of the year for the housing market. We are raising our full-year agent growth outlook to 5.6% to 5.8% over 2014 due to our solid franchise sales results, our continued ability to attract agents to the RE/MAX network and the sustained growth of the housing market.”

The company generated total revenue of $45.1 million in the third quarter, a 2% increase over the third quarter of 2014. The increase was driven primarily by increased revenue from franchise and broker fees.

Revenue from franchise fees was $18.9 million, a 2.1% increase year over year. Revenue from annual dues rose 4.1% year over year to $8 million, primarily due to the increased agent count, more than half of which came from the U.S. and Canada.

Broker fee revenue, meanwhile, was $9.3 million, up 12.6% year over year. The increase was driven by agent count growth, as well as increased transaction volume.

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