The consolidation wave within the real estate brokerage sector has intensified. The Real Brokerage Inc. announced on Monday that it has entered into a definitive agreement to acquire the globally recognized real estate franchisor, RE/MAX Holdings, for an enterprise value of approximately $880 million. The newly merged entity will be named Real REMAX Group.
The transaction structure and equity arrangement stipulate that each share of RE/MAX Holdings will be valued at $13.80. Shareholders will have the option to receive either 5.152 shares of the new company's stock or a cash equivalent for each share, though the total cash payout will be capped between $60 million and $80 million. Shareholders of Real will exchange their shares on a one-for-one basis. Upon completion of the transaction, Real shareholders are projected to hold approximately 59% of the combined company, with RE/MAX shareholders holding about 41%.
The acquisition combines Real's AI-driven brokerage platform with RE/MAX's extensive franchise network, which spans more than 120 countries and includes over 145,000 agents. The merged entity will serve nearly 8,500 franchisees and more than 180,000 real estate professionals. The Chief Executive Officer of Real is set to become the Chairman and CEO of the new company.
Based on pro forma financial data for 2025, the combined company is expected to generate approximately $2.3 billion in annual revenue and $157 million in adjusted EBITDA before realizing synergies. The transaction is anticipated to be accretive to Real's earnings and EBITDA margin within the first full fiscal year following closing. The companies project annual cost synergies of around $30 million, the majority of which are expected to be realized by 2027. Real has secured a $550 million financing commitment from Morgan Stanley and Apollo.
The co-founder and Chairman of RE/MAX, who controls approximately 38% of the company's voting power, has agreed to support the transaction. The deal is expected to close in the second half of 2026, pending approval from regulatory authorities and shareholders of both companies. The combined Real REMAX Group will continue to be listed on the Nasdaq.