The Real Brokerage announced a definitive agreement to acquire RE/MAX Holdings in a transaction valuing RE/MAX at approximately $880 million, forming a combined entity called Real REMAX Group.
The deal brings together Real’s AI-powered brokerage platform with RE/MAX’s globally recognized franchise network, creating a technology-enabled real estate ecosystem spanning more than 120 countries and over 180,000 agents. The combined company would have generated approximately $2.3 billion in annual revenue and $157 million in adjusted EBITDA on a pro forma basis in 2025.
The acquisition is designed to unite complementary business models. Real contributes a fast-growing, software-driven brokerage platform and proprietary tools, while RE/MAX adds a capital-light, high-margin franchise network with more than 145,000 agents and nearly 8,500 franchisees worldwide. Both RE/MAX and Motto Mortgage will continue operating under their existing brands, while Real will remain an owned brokerage.
The combined platform aims to enhance productivity for real estate professionals through Real’s integrated technology suite, including AI-driven transaction management, automation tools, and financial services. Consumers are expected to benefit from a more streamlined home buying and selling experience, with improved transparency, faster response times, and access to integrated services such as mortgage and title.
Financially, the transaction is expected to be accretive to Real’s earnings and EBITDA margin within the first full year following closing. The combined company is projected to generate strong cash flow, enabling rapid deleveraging toward a target net debt-to-EBITDA ratio below 2.0x within two years. The deal is also expected to deliver approximately $30 million in annual cost synergies, primarily from shared services and technology efficiencies.
Under the terms of the agreement, RE/MAX shareholders will receive either 5.152 shares of the new entity or $13.80 in cash per share, subject to proration. Upon closing, Real shareholders are expected to own approximately 59% of the combined company, with RE/MAX shareholders owning about 41%.
The transaction has been approved by both companies’ boards and is expected to close in the second half of 2026, pending regulatory approvals and shareholder consent. The combined company will be headquartered in Miami, with significant operations continuing in Denver. Advisors to the transaction include Morgan Stanley & Co. LLC as exclusive financial advisor to Real, with Willkie Farr & Gallagher LLP and Gowling WLG (Canada) LLP serving as legal advisors and Joele Frank, Wilkinson Brimmer Katcher as strategic communications advisor. J.P. Morgan Securities LLC is serving as exclusive financial advisor to RE/MAX Holdings, with Morrison & Foerster LLP as legal advisor and H/Advisors Abernathy as strategic communications advisor.
KEY QUOTES:
“This acquisition is an important step on our journey to build a technology platform that empowers real estate professionals and improves the consumer experience. Bringing together Real’s technology and operating model with RE/MAX’s global reach and franchise model is a transformational moment for the industry. Together, we will create a more innovative, more productive and more connected real estate ecosystem that we believe will generate substantial long-term value for agents, franchisees, consumers and shareholders.”
Tamir Poleg, Chairman And Chief Executive Officer, Real
“RE/MAX is pleased to announce this transaction with Real to create a leading global real estate platform. Real brings differentiated, best-in-class technology that we believe will drive greater choice, higher productivity and expanded support to our network. By joining forces, we will be positioned to deliver a more enhanced experience for all stakeholders, from agents to franchisees to consumers to shareholders, all while strengthening the culture and flexibility that make our brands special.”
Erik Carlson, Chief Executive Officer, RE/MAX Holdings
“This is an extraordinary day in the history of RE/MAX, and I’m thrilled for what this transaction means for RE/MAX franchisees, agents and clients, as well as shareholders. When Gail and I founded RE/MAX in 1973, we built a company for business-minded entrepreneurs with a customer-service mindset. For more than 50 years, RE/MAX has attracted trusted, productive professionals, shaped the real estate industry, and changed the lives of buyers and sellers around the world. To see the incredible momentum and strength of the RE/MAX brand today, I know now is the right time and Real is absolutely the right partner to move RE/MAX into the future. Gail and I look forward to watching RE/MAX enter its next chapter alongside Real.”
Dave Liniger, Co-Founder And Chairman Of The Board, RE/MAX Holdings
