A merger deal struck between a real estate brokerage and REMAX’s US-based parent company could see the Australian franchise benefitting from AI and tech advances in the future.
REMAX Australia’s US-based parent company, REMAX Holdings, has been acquired by tech-powered firm The Real Brokerage Inc in a US$880m (AU$1.2B) deal announced this week.
According to REMAX Holdings CEO, Erik Carlson, the agreement will combine the two companies, operating as Real REMAX Group, after the deal is finalised later this year.
“It’s an amazing next step in the REMAX story, one with great promise for an even brighter future,” he said.
REMAX Holdings Inc is the parent company of franchisor REMAX LLC, which operates the brand’s global network, including the Australian franchise.
The new structure will be led by Real’s chairman and CEO, Tamir Poleg, and while the companies will be combined into one, Real and REMAX will continue to operate as separate brands.
In total, Real REMAX Group is expected to span more than 120 countries and include over 180,000 real estate professionals, becoming one of the largest real estate networks in the world.
REMAX Australia managing director, Joel Davoren, said there would be no immediate changes to the Australian subsidiary or its franchisees within the group, as it will continue to operate as its own brand.
However, he hinted that franchisees could benefit from Real’s tech capabilities in the future.
“REMAX Australia has always operated very autonomously and independently, having built our own products, tools, training and systems to meet the needs of a very unique Australian real estate landscape,” he said.
“Australian real estate requires unique solutions, and we expect this to continue, with the possibility of potential benefits coming from some of the AI and technology-based solutions that Real is currently utilising overseas.”
Davoren said REMAX Australia would continue to remain focused on providing market solutions for the organisation's network.
REMAX co-founder and chairman of the board, Dave Liniger, said the deal marked a major milestone for the company, its franchisees, agents and clients, and shareholders.
“When Gail (Liniger) and I founded REMAX in 1973, we built a company for business-minded entrepreneurs with a customer-service mindset,” he said.
He said, given the momentum and strength of the REMAX brand, the agreement had come at the right time, with Real to help REMAX boost its capabilities.
“Gail and I look forward to watching REMAX enter its next chapter alongside Real,” he concluded.
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