Securityholders of The Real Brokerage Inc. and RE/MAX Holdings, Inc. voted Thursday to approve their proposed combination, clearing the way for a deal that will create a roughly $2.3 billion-revenue global brokerage platform, according to an 8-K filing RE/MAX made with the Securities and Exchange Commission.
The companies said the transaction is expected to close “shortly after satisfaction of all closing conditions,” which they estimated would take place “in the next couple of weeks.”
“We’re grateful for the strong support from securityholders of both companies, and appreciate the confidence this signals in our vision for a more connected, innovative real estate ecosystem,” said Tamir Poleg, Chairman and CEO of Real.
Erik Carlson, CEO of RE/MAX Holdings, called the vote “an important milestone for RE/MAX franchise owners and the broader RE/MAX network.” He added that the combination “provides the opportunity to strengthen the value for Broker/Owners and their agents while preserving the entrepreneurial culture, local leadership and trusted RE/MAX brand that have fueled success for more than 50 years.”
A combined platform spanning 180,000 agents
Once completed, the combined company — to be known as Real REMAX Group — will bring together Real’s technology-driven, cloud-based brokerage model with RE/MAX’s roughly 8,500 franchised offices. Together, the companies say the platform will support more than 180,000 real estate professionals across more than 120 countries and territories, making it one of the largest brokerage networks in the world by agent count.
On a pro forma basis using 2025 results, the combined company is projected to generate approximately $2.3 billion in revenue and $157 million in adjusted EBITDA before accounting for any synergies from the deal. Real, a Nasdaq-listed brokerage known for its agent-focused commission model and equity incentive programs, has grown rapidly in recent years by recruiting agents and teams from traditional brokerages, while RE/MAX has leaned on its decades-old franchise network and brand recognition.
RE/MAX heads into the deal after a weak quarter
The vote comes as RE/MAX has been contending with softer results. The company reported a $4.3 million second-quarter loss as its U.S. agent count declined heading into the merger, underscoring the pressure on legacy franchise brokerages as agents migrate toward newer commission structures. RE/MAX has also been working through the fallout of industry-wide commission litigation; the company and Keller Williams recently won final court approval of $28.5 million in Batton commission-suit settlements.
The combination was first announced earlier this year, and the August 14 vote represented the last major hurdle before closing, following what the companies described in their SEC filing as a special meeting of securityholders held under items covering both the vote itself and related regulatory disclosures. RE/MAX Holdings trades on the New York Stock Exchange under the ticker RMAX, while Real trades on the Nasdaq.
The tie-up is one of the most closely watched moves in a brokerage industry that has been consolidating and restructuring commission models since the 2024 National Association of Realtors settlement reshaped how agents are paid. Real has positioned itself as a low-overhead, technology-first alternative to traditional franchise brokerages, offering agents equity and revenue-share incentives instead of the office infrastructure that anchors RE/MAX’s model. Combining the two approaches under one holding company is a bet that a hybrid platform can retain both RE/MAX’s franchise network and the agent-recruiting momentum that has fueled Real’s growth.
What it means
The securityholder vote and the SEC filing confirming it are verified facts. The projected $2.3 billion revenue figure and 180,000-agent, 8,500-office network size are the companies’ own pro forma estimates, not independently audited results, and should be read as management’s projection of the combined business rather than a guaranteed outcome.
The deal’s completion, expected within weeks, would rank among the largest brokerage-industry combinations in recent years and would test whether marrying Real’s tech-forward, high-growth model with RE/MAX’s legacy franchise footprint can reverse RE/MAX’s recent agent attrition. How the combined leadership integrates two very different brokerage cultures — one built on centralized technology, the other on independently owned local franchises — will be the key question for agents and franchisees in the months following the close.
