Real REMAX, with 180,000 agents, plans Miami headquarters

Miami is to become headquarters of a new technology-enabled global real estate platform named Real REMAX Group that formed last week in the uniting of RE/MAX and the Real Brokerage. The combined company has nearly 8,500 franchisees and more than 180,000 agents.

In unveiling the acquisition of RE/MAX by Real Brokerage, the announcement said “Real REMAX group will be headquartered in Miami with significant operations remaining in the Denver area,” which had been the home of RE/MAX before the acquisition. The exact headquarters location was not announced.

The transaction is expected to close in the second half of this year, the announcement said.

Both organizations had franchisees in Miami-Dade before the acquisition. REMAX listed more than 145,000 agents and the Real Brokerage had 35,000.

The acquisition is another corporate unification in the industry. Last year Compass Real Estate acquired Anywhere Real Estate in a deal reported to be worth $1.6 billion.

The announcement emphasizes that the two organizations bring to the new company complementary business models, “uniting Real’s AI-powered, high-growth brokerage platform, proprietary software and vibrant agent community with REMAX’s iconic real estate brand and expansive global franchise network with a presence in more than 120 countries and territories and more than 145,000 agents.”

“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, Real’s chairman and chief executive officer, in a written statement.

REMAX was founded in 1973 by Dave and Gail Liniger. “I know now is the right time and Real is absolutely the right partner to move REMAX into the future,” Mr. Liniger said. Mr. Poleg will be chairman and CEO of the new Real REMAX Group.

The transaction has been called an $880 million deal, although a Wall Street Journal report put the actual value at $550 million.