Where Real Estate Gets Its Dirt

The Balloon Has Landed


Real to Acquire RE/MAX, Creating a Leading Technology-Enabled Global Real Estate Platform

“When Gail and I founded REMAX in 1973, we built a company for business-minded entrepreneurs with a customer-service mindset. For more than 50 years, REMAX has attracted trusted, productive professionals, shaped the real estate industry, and changed the lives of buyers and sellers around the world… I know now is the right time and Real is absolutely the right partner to move REMAX into the future.” — Dave Liniger, RE/MAX Co-Founder

So. Real Brokerage, with its 33,000 agents, is acquiring RE/MAX and its 145,000 agents for $880 million. The combined company will be called Real REMAX Group. Tamir Poleg will run it from Miami.

33,000 buying 145,000. The company that’s been around for less than 10 years just swallowed the company that’s been around for 53.

The Liniger quote is the one to pay attention to. That’s not a guy being dragged to the altar. Liniger literally shifted the entire real estate industry to a more agent focused model. He created the future of real estate back in the day, and today is saying, “now is the right time,”. 

I think I understand the deal. Real gets the global footprint and franchise cash flow it never had and agent economics it desperately needed. 180,000 agents across 120 countries. On paper, it’s elegant. The tech play I’m not so sure about. RE/MAX had Booj, then Inside Real Estate, now Real’s reZEN and HeyLeo? Product fatigue is a thing, Real should understand this if they really think their tech stack is a meaningful factor to their success.

Now zoom out. Compass closes on Anywhere in February and suddenly controls Coldwell Banker, Century 21, Sotheby’s, and roughly 25% of the agent population. Two months later, Real eats RE/MAX. We’ve gone from thousands of independent brokerages to a world where two companies could control close to 40% of all agents in the U.S.

Let that settle for a minute.

Here’s the real question. RE/MAX was built on a specific promise: you’re an independent contractor running your own business, the franchise owner is your partner, not your boss. That is a big deal to the RE/MAX network which tends to attract more experienced agents.

Having done a lot of business with RE/MAX over the years, it’s very, how do you say… Colorado.  Corporate culture is going to be a thing.  Plus franchise owners didn’t sign up to be employees of a tech company in Miami either. They signed up to be entrepreneurs with a balloon on their sign. If the integration respects that, this could work. If it doesn’t, those 145,000 agents have legs.

The consolidation continues, and the year isn’t even half over.

Everywhere

A message from Our Chairman and CEO

“Our collective vision is to become the best in the world at empowering real estate professionals with everything they need to realize their entrepreneurial potential. What makes this moment unique is not a transaction that combines two companies – it’s that the industry’s leading brands and professionals are coming together on a single, modern technology platform that will help real estate professionals save time, grow their business, and better serve their clients.”

It’s only January 9th and I’ve already gotten one of my predictions for 2026 wrong. Oh well. Gonna be fun to watch.

NextHome – Floor Plans on ALL listings by July 2026

NextHome Sets Company-Wide Goal: Floor Plans on 100% of Listings by July 2026

“James Dwiggins, Co-CEO of NextHome, explained the importance of the shift:

“This is an important move, not just for our company, but for the future of our industry. If agents want to be paid what they’re worth, they need to continue to raise their value proposition. According to the most recent NAR homebuyer survey, floor plans are the third most requested tool in the search process. This is one simple, powerful way to do it. In our view, floor plans aren’t just an add-on anymore. They’re front and center for consumers. And helping consumers is the heart of our mission at NextHome.”

Can you feel it? It’s really starting to happen.

Warren Buffet wants out of real estate

Compass negotiating to buy Berkshire Hathaway HomeServices

“News of the negotiations between the companies was notable because it would represent a shift in strategy from Warren Buffett’s Berkshire Hathaway conglomeration. HomeServices is a subsidiary of Berkshire Hathaway Energy, a company silo that otherwise exclusively includes energy production and transmission companies. Berkshire Hathaway, Inc. also holds other ancillary real estate services and the insurance company GEICO.”

I could make the case of Stone Point Capital buying Keller Williams and Rocket buying Redfin as an optimistic view for the industry. Meaning, “big money” thinks real estate is going to pretty much operate as it has in the past. Which is good for organized real estate

I don’t know why, but this news hits different.

HomeServices wants SCOTUS to decide

HomeServices wants US Supreme Court to weigh Sitzer | Burnett case

“On Friday, Feb. 2, HomeServices of America filed a petition to the U.S. Supreme Court for a “writ of certiorari,” asking the court to review an August ruling by the U.S. Court of Appeals for the Eighth Circuit affirming a lower district court ruling that HomeServices can’t enforce arbitration agreements signed by seller clients of its franchisees because the contracts the sellers signed were not directly with HomeServices.”

Andrea Bramila, Inman News

Interesting angle. Doesn’t really go to the heart of the case, but more that they, (HSofA) shouldn’t be included in the case at all.

HowardHanna.com switches to VOW, and raises questions on IDX and national portals

This is a head-scratcher. I’m not sure I fully understand what is going on here but I’ll try and explain. From the video, HowardHanna.com appears to be leaving IDX. Currently, they are showing only HH listings and you must register to see more.

So is Howard Hanna pulling out of IDX? Is there some sort of selective listing opt-out mechanism? Mr. Hanna also says they will “still be partnering with the national portals, and figuring what the strategy will be with them.” I can’t for the life of me figure out how since most of the national portals use an IDX feed. Can you blend an IDX feed with a direct feed from a broker?

Genius or bat-shit crazy? I don’t yet understand the strategy fully until some of these questions are answered. I guess if they are super dominant in that market then it might make sense.

But if I’m a listing agent in Ohio that is competing with Howard Hanna the first thing I would bring up at a listing presentation is something to the tune of, “Howard Hanna won’t promote your listings on all websites, I will”.

I’ll be hosting a Twitter Spaces on this subject today at 1PM PT. Join us!

Ginger Wilcox takes top spot at BH&G

Ginger Wilcox

BETTER HOMES AND GARDENS REAL ESTATE ANNOUNCES GINGER WILCOX AS BRAND PRESIDENT

“Wilcox moves to the helm of BHGRE after holding several prominent leadership roles spanning real estate technology, brokerage, and transaction services. She brings a proven track record of developing and growing unique brands in the industry, having served as Head of Industry Marketing and Relations for Trulia, an online real estate marketplace, where she focused on marketing innovation and digital engagement.  Early in her career, Wilcox developed an award-winning online real estate brand and brokerage, Marin Fine Properties, which was honored as a finalist for the Inman Innovator Awards for most innovative real estate website, as well as a finalist for the National Association of REALTORS® Center for REALTOR® Technology Spotlight Awards.”

Dan and I started W+R Studios in 2008, at the very start of the GFC. Which is a crazy thing to do if you think about it. The whole world wide economy is crashing around you because of real estate and you are starting a software company focusing on real estate.

That same year I remember being at Inman Connect and seeing Sherry Chris launch Better Homes & Gardens. Holy crap, I thought. Here is this women launching a real estate company, in a time like this, just like us. And Sherry did it in the most fun way, announcing via Twitter and other Social Media networks. The optimism! The chutzpah! The balls! Ever since then I’ve held an affinity for Sherry and the BH&G brand. It was mixed emotions seeing the announcement of her retirement. No one in the industry has matched her class and style.

So it’s great to see one of my favorite people in the industry take on the top leadership role at BH&G, Ginger Wilcox. Another women I respect so much. After leaving Trulia Ginger spent a lot of time in the fintech space but now I’m happy to see her come back to the ORE space. Can’t wait to see her at the next event and raise a glass to her new gig. Congrats to Ginger, Sherry and BH&G!

Revive and NextHome partner to deliver move-in ready homes to Millennials

Revive and NextHome Partner to Deliver More Move-In Ready Homes to Agents

“In today’s market, the largest proportion of homebuyers — Millennials, comprising a full 43 percent of the homebuying population — are seeking homes that are ready for them to move in today. The latest research shows that 70 percent of Millennial home buyers will choose a smaller home that’s move-in-ready over a larger home that needs some attention.

Revive, the most complete presale home renovation solution for sellers, and NextHome, the No. 1 real estate franchise in the country in owner satisfaction, are joining forces to deliver more move-in ready homes to more than 5,500 NextHome agents in 610 offices across 48 states.

Revive’s concept is super interesting. Going beyond just “carpet and paint” can yield a huge potential upside on many properties. As someone who goes to open houses for fun I’ve seen many houses where one bad bathroom, or ugly tile in the kitchen makes the whole house a stinker. And, I’m sure many NextHome agents have seen tons more than I have.

RE/MAX shuts down “booj”, announces layoffs

RE/MAX to shutter tech platform booj, lay off workers by end of 2022

“RE/MAX first acquired first acquired booj, then a tech startup, in 2018. About a year and a half later, RE/MAX launched its booj platform, which was meant to be an end-to-end solution that would streamline the experience of its agents. At the time of the launch, then-CEO Adam Contos described it as “a landmark moment in the long history of our company.”

We are now seeing the consequences of the “we’re a technology company” rhetoric in the broker/franchisor space. What many brokers, franchisors, and MLS organizations are beginning to realize, this shit is hard.

The Avatar vs. The Mustache

From Marian McPherson at Inman News….

Former Keller Williams CEO Mark Willis poised to jump to eXp Realty amid legal dispute

Former Keller Williams CEO Mark Willis is poised to join eXp Realty in an undisclosed executive role, a major revelation from an 11-page bombshell countermotion eXp World Holdings filed on Monday to dissolve Keller Williams’ temporary restraining order against Willis. Willis helped grow the Texas-based behemoth from a regional firm in 1991 to a worldwide force with more than 112,000 at the time of his departure in 2014.

I tweeted about this being a possibility but to be honest the “Mark” I thought was jumping name ended with a “c”, not a “k”.

But the story is still crazy good and has everything. It’s almost like a Greek drama. Student outshining the master. Jealousy. Payback. Grudges. Betrayal. And lots, and lots of money.

Love this tidbit…

“Sanford and Keller’s relationship allegedly turned sour in the early 2000s when Keller reportedly snubbed Sanford, then a top-producing team leader, by not including him in an elite company group. The tension between the two remained in the background until 2018, when Keller dismissed Sanford’s earlier praise of his leadership.

“Love it, great. Good for him,” Keller told Inman Founder Brad Inman onstage. “I don’t care.”

“I’ll show them” has gotta be the single best motivator in anyone’s life.

And this…

“A source familiar with the matter backed up eXp’s claims and told Inman kwx Founder Gary Keller “went ballistic” when Willis, who’d spent 25 years helping KW rise to the top of the industry, said he wanted to sell his interests and join eXp.

Despite Keller’s personal feelings, eXp said Keller Williams’ interference in its recruitment of Willis is a classic case of the pot calling the kettle black, as Keller Williams hired former eXp President of Operations Stacey Onnen on Feb. 4.

Et tu, Willis?

This is going to be fun to watch.

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