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Real Brokerage to Acquire RE/MAX, Forming $2.3 B Group

4/28/2026

Summary

Real Brokerage Acquires RE/MAX

Real Brokerage Inc. will acquire RE/MAX Holdings Inc. for $880 million, forming the Real REMAX Group.
The new firm will be based in Miami with Denver operations, serve over 180,000 agents, generate $2.3 billion revenue and project $157 million 2025 adjusted EBITDA before synergies.
Morgan Stanley and Apollo will provide $550 million of financing, giving Real about 59 % and RE/MAX about 41 % ownership of the fully diluted company, with closing slated for H2 2026 after approvals.

Summary

RE/MAX Merger

The deal adds to a consolidation wave that saw Compass buy Anywhere and Rocket Companies acquire Redfin.
Conrad Zurini of RE/MAX Escarpment and Niagara said the merger expands resources for agents and clients.
Co-founder Dave Liniger, who controls about 38% of voting power, will vote for the transaction.
Insider holdings of about $13 million (just over 5% of RE/MAX) coincided with RE/MAX stock rising 28.9% and Real shares falling 27.6% after-hours.

History

Historical Context

After Cendant (then HFS Inc.) bought Coldwell Banker in 1996, it built National Realty Trust, which by 2006 owned 320 firms and 64,000 agents. The trust later became Realogy, rebranded Anywhere Real Estate in 2022 and was bought by Compass in 2026. Today Real Brokerage’s purchase of RE/MAX reflects that same consolidation pattern.

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Real Brokerage Acquires RE/MAX

Real Brokerage Inc. will acquire RE/MAX Holdings Inc. for $880 million, forming the Real REMAX Group.
The new firm will be based in Miami with Denver operations, serve over 180,000 agents, generate $2.3 billion revenue and project $157 million 2025 adjusted EBITDA before synergies.
Morgan Stanley and Apollo will provide $550 million of financing, giving Real about 59 % and RE/MAX about 41 % ownership of the fully diluted company, with closing slated for H2 2026 after approvals.

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