Key facts
- The Real Brokerage Inc. and RE/MAX Holdings Inc. have completed their merger, creating Real REMAX Group.
- The combined entity began trading on the Nasdaq under the ticker symbol REAX.
- The merger aims for growth, focusing on increasing agent count and revenue.
- REMAX's brand and independent broker/owner model will be preserved.
- Real's technology suite will be made available to all agents within the new group.
- Leadership changes include the stepping down of REMAX CEO Erik Carlson and the appointment of Jenna Rozenblat as president.
The Real Brokerage Inc. and RE/MAX Holdings Inc. have officially completed their merger, creating a new entity named Real REMAX Group. The combined company, boasting over 180,000 agents globally, began trading on the Nasdaq under the ticker symbol REAX on Tuesday morning.
The merger, first announced in April, aims to foster growth rather than consolidation, according to Tamir Poleg, CEO and founder of Real and now CEO of Real REMAX Group. Poleg emphasized a focus on increasing agent count and revenue, while also empowering agents and broker-owners with enhanced tools and resources.
Under the new structure, the distinct brands of REMAX and Real will be maintained, preserving REMAX's established brand equity and independent broker/owner model. Poleg stated that the company intends to invest in the REMAX brand to revitalize its consumer-facing energy, driven by agent success.
Real's technology suite, including AI-powered tools, will be made available to all agents within the Real REMAX Group, though their use will not be mandatory. Poleg highlighted that Real's technology was built out of necessity from its own brokerage operations, designed to provide agents with greater leverage per hour.
Significant leadership changes accompany the merger. Erik Carlson, the former CEO of REMAX, will step down from his CEO role but will join the Real REMAX Group board of directors. Jenna Rozenblat, previously Real's COO, has been appointed President of the new group and will also serve as chief integration officer. Additionally, Chris Lim, REMAX's chief growth officer and president, and Travis Saxton, executive vice president of strategy, are departing the company following the merger's close.