Real to Acquire RE/MAX, Creating a Global AI-Driven Real Estate Platform
Real Brokerage will acquire RE/MAX Holdings in a deal valued at about $880 million (7x 2025 EBITDA) to form Real REMAX Group, a technology-enabled global platform that combines Real’s AI-powered brokerage with RE/MAX’s global brand and 145,000+ agents across 120+ countries. The pro forma 2025 revenue would be roughly $2.3 billion with about $157 million in Adjusted EBITDA, aided by ~$30 million in annual cost savings and ~100 basis points of margin expansion. The transaction is expected to be earnings- and EBITDA-accretive in the first full year post-close, with closing anticipated in H2 2026. Ownership would be ~59% Real and ~41% RE/MAX, and Real has secured a $550 million financing commitment to refinance debt and fund cash consideration. The combined group will be headquartered in Miami as a holding company, with Real remaining an owned brokerage and RE/MAX continuing its franchise network and Motto Mortgage brand. The deal requires shareholder and regulatory approvals and is structured as a tax-free transaction for U.S. federal income tax purposes.
