RE/MAX Holdings, Inc.
RE/MAX Holdings, Inc. franchises residential real estate brokerages under the RE/MAX brand and mortgage brokerages in the United States under the Motto Mortgage brand. The company also operates wemlo, a mortgage loan processing platform, and provides marketing, technology, and lead-generation services to its franchise networks and related third parties.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueFranchise rights, brand use, and support services for RE/MAX brokerages and agents.
Franchise rights and support for Motto Mortgage offices in the U.S.
wemlo loan processing and related services for Motto and third parties.
Advertising, lead generation, media, and MaaS-related monetization.
Collective franchise marketing funds used to support brand campaigns.
Products
Reported · share of revenue- Continuing Franchise Fees38.7 %
- Marketing Funds25.0 %
- Broker Fees18.4 %
- Annual Dues10.4 %
- Franchise Sales and Other Revenue7.5 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
The core customers are independent real estate franchise owners, brokerage offices, and agents that pay recurring fees for brand affiliation, technology, and support. Motto Mortgage franchisees and loan originators buy similar franchise and operating support, while wemlo serves mortgage-related third parties that need loan processing services. The company also monetizes its digital audience through advertisers and marketing partners on its flagship websites and media network.
Buy franchise rights, brand affiliation, and support services to operate local real estate brokerages.
Pay annual dues and use the network's brand, education, and marketing tools to support transactions.
Buy mortgage brokerage franchise rights and operating support for U.S. mortgage offices.
Use loan processing services and workflow support for mortgage operations.
Buy advertising, sponsorship, and lead-generation placements across RE/MAX digital assets.
Strategy
The company is expanding beyond traditional franchise fees by monetizing transactions, agents, franchisees, and loan originators through digital and ancillary services. It is also investing in technology platforms, marketing tools, and selective acquisitions or regional franchise rights to deepen network value and broaden revenue streams.
Reduces dependence on agent counts and recurring franchise royalties.
A stronger value proposition supports recruitment, retention, and franchise stability.
Can add scale, new markets, and additional revenue streams.
Geography
RE/MAX operates a global franchise network in more than 120 countries and territories, with the U.S. and Canada as its most important markets. Motto Mortgage is focused on the United States, while wemlo and digital monetization activities also serve U.S.-based and cross-border customers. The company also uses regional franchise rights in certain markets outside the U.S. and Canada, which adds local operating complexity and foreign currency exposure.
Risks
The business depends on the strength of the RE/MAX and Motto brands, franchisee retention, and the ability to recruit agents and offices in a competitive housing-services market. It is also exposed to housing-cycle sensitivity, mortgage-market weakness, foreign exchange, integration risk from acquisitions, and legal or regulatory issues tied to franchising, mortgages, and consumer-facing marketing.
- Brand deterioration or loss of market leadershipImpact: HighLikelihood: Medium
The model relies on RE/MAX and Motto attracting franchisees, agents, and consumers.
Exposure: RE/MAX and Motto network growth
- Weak housing and mortgage market conditionsImpact: HighLikelihood: Medium
Transaction-driven and office-based fees depend on brokerage activity and commissions.
Exposure: Real estate and mortgage segments
- Regulatory and legal riskImpact: HighLikelihood: Medium
Franchising, mortgage brokerage, and consumer marketing are heavily regulated.
Exposure - Acquisition and integration riskImpact: MediumLikelihood: Medium
Growth strategy includes buying Independent Regions and complementary businesses.
Exposure - Foreign currency exposureImpact: MediumLikelihood: Low
A large share of the network operates outside the U.S., creating translation risk.
Exposure: International franchise royalties and fees
Accounting
Judgemental itemsThe company earns fixed monthly fees, annual dues, and variable commission-linked fees.
Impact: Affects revenue timing and comparability across periods
Marketing fund revenues and costs are presented separately and operate at no profit.
Impact: Can distort top-line growth if viewed without excluding Marketing Funds
Mortgage goodwill is tested for impairment and can be written down if fair value falls.
Impact: Potential non-cash charge to earnings
Acquisitions and prior deals can create fair value adjustments and contingent liabilities.
Impact: Can affect earnings through remeasurement and integration-related items
Office leases and legal matters can produce impairment, settlement, or restructuring charges.
Impact: Creates volatility in operating expenses and non-operating items
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Last updated: 24/09/2026