RE/MAX more than doubles net income

RE/MAX elevates 3 women leaders with promotions

RE/MAX generated total revenue of $54.9 million in the third quarter of 2018, a year-over-year increase of 11.8 percent and just slightly over last quarter’s revenue, according to the company’s Thursday earnings release. The real estate franchisor also posted a net income of $8.1 million for the third quarter of 2018, more than double last year’s third quarter net income of $3.7 million.
Despite a market slowdown, RE/MAX CEO Adam Contos believes the company’s value proposition will allow it to continue to be successful.
“Fortunately, in times like these, our differentiated model and competitive advantages stand out,” Contos said, in a release. “For one thing, the quality and experience of our agents should help them adapt to current market conditions; many have seen and performed well in similar markets in the past.”
He added, “Second, we believe our agent-centric model is more insulated and resilient to sudden dips in transactions than more traditional broker-centric businesses.”
RE/MAX’s agent count increased 5.5 percent to 123,905 agents and 85,698 in the United States and Canada.
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