Re/Max LLC, a franchisor of real estate brokerage services, has entered into an agreement to acquire the North America regions of Re/Max Integra. Once completed, the acquisition will bring nearly 19,000 agents (approximately 12,000 in Canada and 7,000 in the U.S.) and more than 1,100 independently owned and operated Re/Max offices under the Re/Max LLC company-owned region umbrella. Acquiring independent Re/Max regional franchises has long been a key pillar of the company’s growth strategy and a capital allocation priority.
“We are thrilled to announce this regional acquisition, which is by far the most significant in the history of our company in terms of the size of territory and number of agents,” said Adam Contos, CEO of parent Re/Max Holdings. “The addition of these strategic and geographically desirable regions enhances our ability to continue to scale, brings many attractive growth opportunities and simplifies our operational structure by creating greater efficiencies.”
The North America regions being acquired by Re/Max LLC include five Canadian provinces (New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario and Prince Edward Island) and nine U.S. states (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, Indiana, Minnesota and Wisconsin).
With this acquisition, Nick Bailey, who has served as Chief Customer Officer since September 2019, has been promoted to president of Re/Max LLC. He will lead all aspects of the Re/Ma brand and business globally, focusing on the growth and success of its membership. Prior to rejoining Re/Max in 2019, Bailey served as president and CEO of Century 21 Real Estate LLC, a subsidiary of Realogy, and as a vice president at Trulia/Zillow. Earlier in his career, he spent over a decade at Re/Max LLC.