On April 27, 2026, RE/MAX Holdings, Inc. (NYSE: RMAX) entered into a definitive agreement to be acquired by The Real Brokerage Inc. (NASDAQ: REAX). The transaction values RE/MAX at an enterprise value of approximately $880 million and will create a new holding company, Real REMAX Group, under which Real shareholders will own about 59% and RE/MAX shareholders about 41%.
The deal is structured as a cash‑and‑stock transaction: RE/MAX shareholders will receive either $13.80 in cash per share or 5.152 shares of the combined company, subject to prorating. The Real Brokerage will become the parent company, and the combined entity will leverage RE/MAX’s extensive franchised network and brand equity alongside The Real Brokerage’s AI‑driven tools and digital platforms to accelerate growth in international markets and deepen the technology stack available to agents.
Prior to the announcement, RE/MAX had reported a decline in total revenue and net income in Q4 2025 compared with Q4 2024, while The Real Brokerage posted strong revenue growth in Q4 2025 but also a net loss. These financial trends underscore the complementary nature of the transaction: RE/MAX brings scale and brand, and The Real Brokerage brings technology and growth momentum.
The parties have projected $30 million in annual run‑rate cost synergies, primarily from shared services, corporate costs, and technology efficiencies, with most savings expected to be realized by 2027. The transaction is supported by a $550 million financing commitment from Morgan Stanley Senior Funding, Inc. and Apollo Global Funding, LLC, which will provide the necessary capital to complete the acquisition.
Regulatory approvals and shareholder consent are pending. The new holding company, Real REMAX Group, will be formed, and the transaction will be subject to customary regulatory approvals, including those from the U.S. Securities and Exchange Commission and relevant antitrust authorities.
RE/MAX and its mortgage brokerage franchise, Motto Mortgage, will continue to operate under their existing brands. Agents and franchisees will gain access to Real’s technology platform, including AI‑powered tools, while maintaining their franchise agreements and brand identity.
On the announcement day, RE/MAX’s stock surged more than 20%, reflecting investor confidence in the attractive cash/stock consideration. In contrast, The Real Brokerage’s stock fell 27% and 8.58%, a typical reaction for acquirers in hybrid deals due to dilutionary concerns and the cost of the acquisition.
"This acquisition is an important step on our journey to build a technology platform that empowers real estate professionals and improves the consumer experience," said Tamir Poleg, Chairman and CEO of The Real Brokerage. "Bringing together Real’s technology and operating model with REMAX’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."
"Real brings differentiated, best‑in‑class technology that will drive greater productivity and support across the RE/MAX network," said Erik Carlson, CEO of RE/MAX Holdings. "We are continually elevating our value proposition, and this quarter we also introduced several new initiatives to help our affiliates win more listings, do so more efficiently, and profitably grow their businesses."
"Throughout 2025, we scaled our platform with discipline, with growth in revenue and gross profit outpacing growth in operating expenses," said Jenna Rozenblat, Chief Operating Officer of The Real Brokerage.
The combined Real REMAX Group will become one of the largest real‑estate platforms globally, with over 180,000 agents across more than 120 countries and territories, positioning it to compete with the industry’s top players and drive further innovation in the brokerage space.
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