RE/MAX to Be Acquired by The Real Brokerage in $880M Deal

The Real Brokerage Inc. and RE/MAX Holdings announced on April 27, 2026 that they have entered into a definitive agreement under which Real will acquire RE/MAX Holdings, creating a combined holding company to be named Real REMAX Group. The transaction implies an enterprise value for RE/MAX of approximately $880 million and targets closing in the second half of 2026, subject to customary regulatory and shareholder approvals.

Under the terms disclosed, each RE/MAX share is valued at $13.80 based on Real’s April 24, 2026 closing price. RE/MAX shareholders may elect to receive $13.80 in cash or 5.152 shares of Real REMAX Group, with a proration mechanism capping the aggregate cash consideration between $60 million and $80 million. Real has secured a $550 million financing commitment arranged by Morgan Stanley Senior Funding, Inc. and Apollo Global Funding, LLC to refinance RE/MAX’s existing debt and to fund the cash portion and transaction costs.

Management provided pro‑forma metrics showing the combined company would have generated around $2.3 billion in revenue and about $157 million in Adjusted EBITDA on a 2025 pro‑forma basis, with expected run‑rate cost synergies of roughly $30 million. Real’s leadership has indicated the deal should be accretive to earnings and EBITDA margin in the first full year following close, excluding one‑time integration expenses.

From a market perspective, the transaction underscores ongoing consolidation in the U.S. and global residential brokerage sector, combining Real’s technology‑driven brokerage model with RE/MAX’s global franchise footprint of more than 145,000 agents in 120+ countries. Investors are weighing near‑term integration and regulatory risks against longer‑term scale, cross‑sell and technology monetization opportunities. Equity markets reacted with increased volatility in both Real and RE/MAX shares after the announcement.

Analysts say key monitors going forward will be regulatory approvals, completion of the planned financing, realization of stated synergies and retention of agents and franchisees during integration. The companies expect to host investor calls and to file requisite proxy and regulatory documents ahead of shareholder votes and closing, likely in the second half of 2026 if all conditions are met.