C
EO Erik Carlson described 2025 as a "year of transition" for RE/MAX, despite revenue being lower than expected. The company's North American agent count fell 5%, with the U.S. experiencing a decline in agents for every quarter since late 2022. As of March 31, RE/MAX had 49,854 U.S. agents, down from nearly 61,000 three years ago.
To address this issue, RE/MAX has introduced initiatives such as its Aspire onboarding program to attract and develop top-producing agents. Carlson emphasized the company's focus on opportunity, citing improvements in customer experience, value proposition, and revenue diversification.
Regarding private listings, RE/MAX supports the National Association of Realtors' (NAR) Clear Cooperation Policy update, which promotes transparency with clients about delayed marketing. The company is helping its network navigate this change and remains focused on promoting listings to a broader audience.
Carlson described 2025 as an "important year" for RE/MAX, marked by transition, building, innovation, evolution, and execution. He highlighted efforts to improve the company's foundation, including people, processes, products, and platforms, positioning it for long-term success.
The company unveiled a new digital-first logo in February, updating its iconic balloon logo to modernize branding online and on social media. RE/MAX aims to continue rolling out the refreshed brand throughout 2025 and beyond.
Key numbers include:
* Revenue: $74.5 million in Q1 2025, down 4.9% year-over-year
* Cash and cash equivalents: $89.1 million, versus $96.6 million at the end of 2024
* Net loss: A net loss of $2 million, down from a $3.4 million net loss in Q1 2024
* Adjusted EBITDA: $19.3 million, up 1.5% from Q1 2024
* Agent count: 146,126, a 2% year-over-year increase
Notable moves include the departure of former President Amy Lessinger and the appointment of new executives, including Chris Lim as chief growth officer and Don Kottick as president of RE/MAX Canada.
