Real estate network REMAX is set to be acquired by real estate technology company Real, bringing enhanced technology and strengthening its franchise offices.
REMAX has announced plans to be acquired by Real, with a deal expected in the coming weeks.
REMAX and Real will continue to operate independently before the two brands combine to form Real REMAX Group.
US- and Canada-based real estate technology company Real’s acquisition of REMAX will combine its technology and resources with the global network and history of the international REMAX network.
REMAX Australia managing director Joel Davoren said the move marked a significant milestone for the network, both domestically and globally.
Davoren said that following the brand being acquired, REMAX Australia would continue under the same name.
“Here in Australia, we have always been very independent and progressive in our approach to innovation, services, systems and support, and this will obviously continue,” Davoren said.
“Our brand, identity, franchise network and entrepreneurial culture remain at the heart of the opportunity. For our Australian network, our focus remains exactly where it should be, that is in supporting our brokers, agents, members, and businesses to grow and succeed.”
The acquisition has been approved by the securityholders of both companies, with formal settlement expected in the coming weeks.
“Together, there is the potential to create a stronger, more innovative and better-resourced organisation that can compete even more effectively in the rapidly changing real estate environment,” Davoren said.
The move comes amid a period of growth for the brand, which has launched several new offices in recent months.
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