RE/MAX, LLC Sells Last Corporate-Owned Brokerages
Brokerage Sales Make RE/MAX 100% Franchised Organization
DENVER - Jan. 26, 2016 // PRNewswire // - RE/MAX, LLC has sold its two remaining corporate-owned brokerages, RE/MAX Northwest in Seattle, Wash. and RE/MAX Equity Group in Portland, Ore. Last year, the global real estate franchisor sold RE/MAX 100 with six offices in Maryland and Virginia. As a result of these three brokerage sales, RE/MAX franchise offices are now completely independently owned.
"When RE/MAX went public in 2013, we stated our intention to divest of these three corporate owned brokerages to ensure that our focus would be entirely on the growth of our network as a franchise organization," said Dave Liniger, CEO, Chairman of the Board and Co-Founder of RE/MAX, LLC. "We're so pleased that in each of these sales, current RE/MAX broker/owners were the buyers. There couldn't have been any better outcome than this."
The owner of RE/MAX On the Lake, Matt van Winkle, now owns the largest number of RE/MAX offices inWashington state with the purchase of RE/MAX Northwest. The largest real estate brokerage in Oregon, RE/MAX Equity Group, and its 12 offices was purchased by Chuck and Chad Ochsner, the father and son owners of one of the largest brokerages in Colorado, RE/MAX Alliance. The Ochsners now own 33 RE/MAX offices with more than 1,400 agents.
Last April, RE/MAX 100 was sold to RE/MAX Realty Group broker/owner Ken Crowley. The two companies together have more than 400 agents and combined sales of nearly $1.4 billion.
"We're confident that the agents in all these offices, and their clients, are in very good hands with these new owners, who are among the most accomplished individuals in our industry," Liniger added.
RE/MAX has over 6,800 franchises in nearly 100 counties, a global footprint larger than any competitor. TheDenver-based franchisor was recently recognized as the leading real estate brand in the Franchise 500 survey by Entrepreneur magazine; measured by growth, strength and stability, this year marks its fourth consecutive year leading the industry.
RE/MAX has held #1 market share in the U.S. and Canada each year since 1999 as measured by residential transaction sides.
About the RE/MAX Network
RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Over 100,000 agents provide RE/MAX a global reach of nearly 100 countries. Nobody sells more real estate than RE/MAX when measured by residential transaction sides.
RE/MAX, LLC, one of the world's leading franchisors of real estate brokerage services, is a wholly-owned subsidiary of RMCO, LLC, which is controlled and managed by RE/MAX Holdings, Inc. (NYSE: RMAX).
With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $150 million for Children's Miracle Network Hospitals® and other charities.
For more information about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com. For the latest news about RE/MAX, please visit www.remax.com/newsroom.
SOURCE RE/MAX, LLC