Real Brokerage to Acquire RE/MAX for $880 Million

The Real Brokerage Inc. (REAX) entered a merger agreement to acquire RE/MAX Holdings, Inc. (RMAX) in a deal valued at $880 million, to create Real REMAX Group.

Deal Structure:

RE/MAX stockholders will have the right to elect to receive 5.15 shares of Real REMAX Group or $13.8 in cash per share, representing a premium of 72.72% from the last close.

The consideration is subject to proration such that aggregate cash proceeds to RE/MAX shareholders will be no less than $60 million and no greater than $80 million.

Real shareholders will receive 1 share of Real REMAX Group for each Real share.

After the merger, Real shareholders are expected to own about 59% of the new company, while RE/MAX Holdings shareholders will own around 41%.

Company Profile:

RE/MAX is a franchisor of real estate brokerages operating under the RE/MAX brand and mortgage brokerages in the U.S. under Motto Mortgage. It provides brokerage franchising, mortgage services, and related technology platforms across the U.S., Canada, and international markets.

Real is a technology-enabled real estate brokerage that provides agents with a digital platform to operate their businesses and offers integrated real estate transaction services across the U.S. and Canada.

Deal Details and Timeline:

Tamir Poleg, the CEO of Real, will become the Chairman and CEO of the new Real REMAX Group. Jenna Rozenblat, Real’s COO, will take on the role of Chief Integration Officer. The new company will have a 10-member board, including three directors from RE/MAX.

The new Real REMAX Group will be based in Miami, while continuing to run major operations in the Denver area. Its shares are expected to trade on the NASDAQ stock exchange under the symbol REAX.

The deal is expected to close in the second half of 2026.

Dave Liniger, the co-founder and Chairman of RE/MAX, controls about 38% of the company’s voting power and has agreed to support the deal. Some of Real’s executives, board members, and their affiliated entities, who together own about 16% of Real’s shares, have also agreed to vote in favor of the deal.

Real has secured a $550 million financing package, arranged by Morgan Stanley Senior Funding and Apollo affiliates, to refinance RE/MAX’s existing debt and cover the cash portion of the deal and related transaction costs.

For RE/MAX, J.P. Morgan served as financial advisor, and Morrison & Foerster acted as legal advisor. For Real, Morgan Stanley provided financial advice, while Willkie Farr & Gallagher and Gowling WLG handled legal matters.

Deal Metrics:

For more insights into this M&A transaction, please visit the Deal Metrics page here:

Deal Metrics for the acquisition of RE/MAX Holdings, Inc. (RMAX) by The Real Brokerage Inc. (REAX)

The Deal Metrics page for each merger or acquisition includes:

• A chart illustrating the spread history of the merger from announcement to completion or failure.
• Details of every event as the merger progresses, including the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
• Access to news and SEC filings.
• A timeline of deal updates.
• And much more.

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Editor’s Note: Baranjot Kaur contributed to this article