By providing world-class technology and going even bigger on teams, RE/MAX, LLC aims to help affiliates have the systems and scale to succeed in any market conditions.
The initiatives – a world-class technology platform and an innovative pilot program for teams – are designed to help RE/MAX affiliates enjoy the benefits of systems and scale. Amid a changing market that shows signs of cooling after several red-hot years, RE/MAX agents and teams are positioned to stay well out in front.
The next step for RE/MAX technology
The first move – a new relationship between RE/MAX, LLC and Inside Real Estate, one of the industry’s premier tech providers – represents the next step in the evolution of the RE/MAX technology strategy.
In a phased rollout beginning this year and continuing into 2023, RE/MAX affiliates in company-owned regions across the U.S. and Canada will gain no-cost access to the state-of-the-art kvCORE platform – with several add-ons, including a module specifically for teams.
The kvCORE offering will include agent/team/office websites, lead management, a smart CRM, automated marketing and much, much more. With kvCORE’s track record of excellence and innovation, RE/MAX affiliates will know they’re using the best of what the industry offers at any given time.
Although the kvCORE suite will eventually replace existing in-house products like CRM and IDX websites, many of the more unique and impactful RE/MAX tech solutions – the First® app, RE/MAX Hustle, key aspects of Megaphone – will be integrated into the platform over time.
The agreement underscores the advantages of being part of the RE/MAX network, said Nick Bailey, RE/MAX President and CEO.
“When the rollout reaches them, RE/MAX agents and teams will have a real competitive edge in technology. They’ll have a premier tech solution developed by a recognized industry leader with the size, scale and expertise to deliver a world-class, constantly updated platform – and they’ll have our key proprietary tech, like the AI-powered First app and the RE/MAX Hustle video creation tools. The alignment of kvCORE and the best existing RE/MAX tools will give affiliates a premier technology solution along with the No. 1 brand and most productive global network – an unbeatable combination.
“They’ll have the systems to maximize their time, automate their marketing, manage their leads and, most importantly, connect with transaction-ready clients. That will be critical in the next few years. It’s easy to be excited about what’s ahead in RE/MAX technology.”
The right choice for productive teams
The second initiative – launching as a five-state pilot program in August – adds a more flexible, competitive cost structure to an already-robust team environment at RE/MAX brokerages.
“Teams have scale and capabilities that give them a clear competitive edge,” Bailey said. “We realize not everyone wants or needs to be on a team – and in our network we have many individual top producers – but more and more teams are seeing RE/MAX as the network to join if they want to grow and thrive.”
The new initiative centers on a year-long pilot program within U.S. company-owned regions. Beginning August 1, 2022, teams of six or more licensees in California, Florida, Maryland, New Jersey and Texas will be eligible for a special pricing structure and a cap on the broker fee paid to RE/MAX, LLC. (Details vary slightly by state.)
The pilot program should help productive teams of six or more join or stay with RE/MAX. It also incentivizes existing RE/MAX teams to bring agents into the network in order to reach the size required to participate.
“The caps are challenging but reachable. And they get easier to hit as a team brings more members on board. RE/MAX brokerages already have the best value proposition in terms of services and resources, and this initiative should help teams see the huge upside of joining the network, said Bailey, noting that the kvCORE teams module – which affiliates will get at no additional cost – adds even more value for teams at RE/MAX.
Teams flourish at RE/MAX – as evidenced by the results of a prestigious industry survey released in June. In that survey, RE/MAX teams in three of the four size categories led all national competitors in productivity – and narrowly finished second in the fourth. Overall, RE/MAX teams in the survey averaged 26.6 transaction sides per agent, easily eclipsing the overall average of 18.8.
RE/MAX teams have many resources helping them grow and prosper – including RE/MAX University® education, an annual RE/MAX Ultimate Teams Event, idea-sharing sessions at “RE/MAX Teams Mastermind Road Show” stops, and the “Real Teams® powered by Workman Success Systems” program, which debuted at the 2022 R4® Convention.
If the pilot goes well, the program could expand beyond the initial five states, Bailey said.
In an industry where large teams are grabbing bigger slices of market share, everything RE/MAX is doing to encourage team growth positions affiliates to leverage the advantages of scale. Like the technology initiative – and the 2021 modernization of RE/MAX University – it’s an example of RE/MAX leadership looking forward, recognizing trends, anticipating change and seizing opportunities to help affiliates be ready for anything.
“We’re always working to be a step ahead, and that involves investment and taking some risk with new ideas,” Bailey said. “RE/MAX is celebrating 50 years next January, but we’re as fast-moving and energized as a start-up. We’re always looking for new ways to strengthen this brand, grow this network and help RE/MAX affiliates achieve everything they want to achieve.”
This Press Release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are often identified by the use of words such as “believe,” “intend,” “expect,” “estimate,” “plan,” “outlook,” “project,” “anticipate,” “may,” “will,” “would” and other similar words and expressions that predict or indicate future events or trends that are not statements of historical matters. Forward-looking statements include statements related to: RE/MAX agent count, the RE/MAX program aimed at recruiting and growing teams, and expectations related to technology initiatives, including the kvCORE platform. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily accurately indicate the times at which such performance or results may be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include, without limitation, (1) the global COVID-19 pandemic, which continues to pose significant and widespread risks to the business of RE/MAX Holdings, Inc. (the “Company”), including the Company’s agents, loan originators, franchisees and employees, as well as home buyers and sellers, (2) changes in the real estate market or interest rates and availability of financing, (3) changes in business and economic activity in general, (4) the Company’s ability to attract and retain quality franchisees and the Company’s franchisees’ ability to recruit and retain real estate agents and mortgage loan originators, (5) changes in laws and regulations, (6) the Company’s ability to enhance, market, and protect its brands, including the RE/MAX and Motto Mortgage brands, (7) the Company’s ability to implement its strategic initiatives, including technology initiatives, (8) fluctuations in foreign currency exchange rates, and (9) those risks and uncertainties described in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (“SEC”) and similar disclosures in subsequent periodic and current reports filed with the SEC, which are available on the investor relations page of the Company’s website at www.remaxholdings.com and on the SEC website at www.sec.gov. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made. Except as required by law, the Company does not intend, and undertakes no obligation, to update this information to reflect future events or circumstances.
– Source: RE/MAX News, July 07, 2022
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