Real’s Acquisition of RE/MAX to Create $2.3 Billion Global Real Estate Platform and Drive Margin Expansion

Combining Tech and Scale: Real and RE/MAX Join Forces for a New Industry Powerhouse

Real Brokerage Inc. (NASDAQ: REAX) announced it will acquire RE/MAX Holdings, Inc. (NYSE: RMAX), setting the stage for a transformative merger in real estate. The deal, valued at an enterprise total of $880 million, brings together Real’s fast-growing, AI-driven brokerage and RE/MAX’s iconic global franchise, creating a unified platform poised to shape the industry for years to come.

A Platform for 180,000+ Agents with $2.3 Billion in Revenue Potential

Once completed, the new Real REMAX Group will support over 180,000 real estate professionals, including more than 100,000 in the U.S. and Canada, across 120+ countries and territories. Based on pro forma 2025 results, the combined entity would generate approximately $2.3 billion in annual revenue and $157 million in adjusted EBITDA before synergies—positioning the merged firm as a global leader in both scale and profitability.

Operating Model Synergies Expected to Unlock Margin Expansion

The transaction blends Real’s proprietary technology and highly efficient operating model with RE/MAX’s globally recognized, capital-light franchise network. Analysts expect these complementary strengths to drive approximately $30 million in annual run-rate cost savings by 2027, contributing about 100 basis points of margin expansion. Enhanced productivity from Real’s reZEN platform, AI-powered tools, and integrated services—like Real Wallet—should further boost agent earnings and back-end efficiency.

Shareholder Structure and Transaction Details: New Holding Company, Immediate Upside

The new holding company, Real REMAX Group, will be listed on NASDAQ as REAX. RE/MAX shareholders will have the option to receive $13.80 in cash per share, or 5.152 shares in the combined entity, with total cash outflow capped between $60 and $80 million. After closing, Real shareholders are set to own approximately 59% and RE/MAX shareholders 41% of the new group (on a fully diluted basis, assuming mid-point cash election). The deal is structured to be tax-free for U.S. federal tax purposes.

Enhanced Value for Agents, Franchisees, and Consumers

By merging Real’s innovative digital tools with RE/MAX’s established global network, the combined company aims to deliver a more seamless, efficient, and transparent real estate experience. Nearly 1.8 million global transaction sides are expected in 2025, with the integrated platform streamlining everything from transaction management to mortgage access. Both RE/MAX and Motto Mortgage will continue to operate under their current brands, ensuring franchisees and agents retain business flexibility and brand equity.

Transaction Roadmap: Closing Set for Second Half of 2026

The merger, approved by both boards, is expected to close in the second half of 2026, subject to regulatory and shareholder approvals. Real has secured a $550 million financing commitment, ensuring the funding of RE/MAX’s existing debt refinancing, cash portion for shareholders, and transaction costs. Leadership will be helmed by Real’s CEO Tamir Poleg, with significant board representation from both companies.

Key Takeaway: A New Global Force in Real Estate with Margin Expansion at Its Core

For investors and industry watchers, Real’s acquisition of RE/MAX marks a milestone in the evolution of real estate platforms—unifying digital innovation, international scale, and a path to higher profitability. Stakeholders will want to attend today’s webcast and monitor regulatory developments as this new powerhouse begins to take shape.

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