Real Brokerage wins 99% approval for $880M RE/MAX acquisition

Real Brokerage shareholders approved the $880 million acquisition of RE/MAX Holdings with 99 percent of votes cast, clearing the final major hurdle for a combination that will create a global brokerage platform supporting more than 180,000 agents across 120 countries.

"We're grateful for the strong support from securityholders of both companies, and appreciate the confidence this signals in our vision for a more connected, innovative real estate ecosystem," said Tamir Poleg, chairman and CEO of Real, in a statement. "Together, through Real REMAX Group, we'll have the scale, talent and resources to invest more, build faster and create even greater value for the more than 180,000 real estate professionals who choose our brands."

The special resolution passed with 134,411,565 votes for and 1,339,216 against, representing 62.29 percent of outstanding shares present at the Aug. 14 special meeting. When optionholders and restricted share unit holders voted together as a single class, support reached 98.91 percent. Holders of approximately 78.8 percent of RE/MAX Holdings' voting power also approved the deal.

Erik Carlson, CEO of RE/MAX Holdings, called the vote "an important milestone" for franchise owners. "This combination provides the opportunity to strengthen the value for Broker/Owners and their agents while preserving the entrepreneurial culture, local leadership and trusted REMAX brand that have fueled success for more than 50 years," he said.

The combined company, operating as Real REMAX Group, is projected to generate $2.3 billion in pro forma 2025 revenue and $157 million in Adjusted EBITDA before synergies. Real, which reported Q2 revenue of $700.6 million, up 30 percent year over year, brings more than 36,000 agents across the U.S. and Canada. RE/MAX contributes 145,000 agents across nearly 8,500 offices in more than 120 countries and territories.

The transaction, first announced in April, still requires a final order from the Supreme Court of British Columbia approving the arrangement aspects of the deal. The parties expect closing within the next couple of weeks. The Department of Justice granted early termination of the Hart-Scott-Rodino antitrust waiting period in mid-July, removing a potential regulatory obstacle.

The deal follows Compass's completion of its acquisition of Anywhere in January, consolidating the brokerage industry as technology-driven platforms absorb legacy franchise networks. Real was the fifth-largest brokerage by sales volume in 2025, according to T3 Sixty data, and the acquisition positions it to challenge larger rivals including Keller Williams and Compass for agent count and transaction volume.

Poleg will serve as CEO of the combined company, which will be based in Miami with continued operations at RE/MAX's Denver headquarters. The REMAX brand and Motto Mortgage, RE/MAX's mortgage brokerage franchise, will retain their names.

The approval comes as Real reported a Q2 net loss of $8 million, driven by $11.6 million in acquisition-related expenses for the pending deal. RE/MAX posted a $4.3 million net loss on revenue of $68.5 million, down 5.8 percent year over year. The combined entity's projected $157 million in Adjusted EBITDA would give it the financial capacity to invest in technology, AI and education while supporting both brands' distinct business models.

For investors, the deal's completion would create the largest technology-enabled brokerage platform by agent count, combining Real's cloud-based infrastructure with RE/MAX's established franchise economics. The $880 million price tag values RE/MAX at a significant discount to its historical trading range, reflecting the pressure legacy franchise models face from commission compression and technology disruption. If the deal closes as expected, the combined company's scale could reshape competitive dynamics in an industry already consolidating after Compass's Anywhere acquisition.

This article is for informational purposes only and does not constitute investment advice.