Photo: REMAX Germany / Scrivo press archive
Real REMAX reported a $67 million quarterly loss Thursday in its first results since the merger, and built its 2027 forecast around another decline in U.S. home sales and prices.
That housing outlook is a company planning assumption, not a settled prediction. Still, it shows how the combined brokerage and franchise business is preparing for fewer transactions, even as it cuts costs and adds revenue from the merger.
In its third-quarter release, Real REMAX said its outlook assumes U.S. existing-home sales fall 5%-10% and home prices decline 3%-4% in 2027.
The company expects 2027 revenue of $2.6 billion-$2.8 billion and adjusted earnings before interest, taxes, depreciation and amortization of $175 million-$190 million. Those adjusted earnings are not net profit.
Third-quarter revenue rose 28% to $727.9 million. The comparison includes REMAX operations only from August 25, following the August 24 acquisition, while the prior year reflects Real alone.
On a pro forma basis, as if the combination had happened at the start of 2025, quarterly revenue rose 20% to $770 million. That comparison is different from the reported figures.
The $67.2 million net loss compared with a $300,000 loss a year earlier. Operating results included $52.3 million of acquisition-related expenses and $26.4 million of accelerated stock-based compensation tied to employee terminations. Adjusted EBITDA rose to $33.8 million from $20.4 million.
Real’s brokerage closed 62,738 transaction sides, up 17%. Its agent count reached 36,610 at September 30, but slipped to about 36,200 by November 3. The company said October departures included more than 500 agents it removed for unpaid dues or expired licenses.
REMAX’s U.S. and Canada agent count fell 3% from a year earlier to 72,118. Growth elsewhere left its global count slightly higher at 148,088.
The company said it had put more than $40 million in annualized gross cost savings into motion since closing. About $28 million benefits adjusted EBITDA; the broader savings figure also includes capital spending and other items. It is an annualized estimate, not $40 million already added to quarterly profit.
JBizNews Desk | Miami
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