Third quarter earnings reports are rolling out, and we’re covering all the major real estate and mortgage brands for you. Next up: RE/MAX
RE/MAX Holdings generated total revenue of $91 million in Q3 of 2021, an increase of $19.9 million—28 percent—compared to $71.1 million in the third quarter of last year. Total operating expenses were $128.6 million for the third quarter, an increase of $68.4 million from the third quarter of 2020. Third quarter total operating expenses increased primarily due to increased settlement and impairment charges and higher selling, operating and administrative expenses.
Net loss attributable to RE/MAX Holdings was $25.1 million for the third quarter of 2021 compared to net income of $3.6 million the third quarter of 2020.
“Our two primary brands are vibrant and growing,” said Adam Contos, RE/MAX Holdings Chief Executive Officer. “The July acquisition of RE/MAX INTEGRA’s North American operations performed better than expected during the quarter and brought nearly 20,000 agents into our company-owned regions and overall, the RE/MAX network has grown by more than 6,000 agents year over year. Our Motto Mortgage footprint continues to increase as well, with healthy franchise sales and a year-over-year increase in open offices of more than 30 percent.”