Massive Acquisition by RE/MAX Furthering Brand’s Growth Goals; Nick Bailey Promoted to President
RE/MAX, LLC recently announced it is acquiring RE/MAX Integra’s North America regions for approximately $235 million in cash.
Once completed, the RE/MAX INTEGRA acquisition will bring nearly 19,000 agents (approximately 12,000 in Canada and 7,000 in the U.S.) and more than 1,100 independently owned and operated RE/MAX offices under the RE/MAX, LLC Company-Owned Region (COR) umbrella.
“The acquisition of RE/MAX Integra by RE/MAX Holdings is another tremendous step in solidifying the RE/MAX real estate brand under one unified ownership organization,” said RISMedia Founder and CEO John Featherston. “Over the past several years, RE/MAX Founder and Chairman Dave Liniger, CEO Adam Contos, and now President Nick Bailey, have successfully repurchased several key regions of the company which, for decades, have been independently owned and operated. There is no doubt that RE/MAX INTEGRA is the crown jewel among the independently owned regions. For decades, Frank Polzler and Walter Schneider have successfully grown their organization and have been proud representatives of the RE/MAX brand. Their success is now being recognized and rewarded. This acquisition is indeed a huge milestone for RE/MAX.”
“We are thrilled to announce this regional acquisition, which is by far the most significant in the history of our company in terms of the size of territory and number of agents,” said Contos. “The addition of these strategic and geographically desirable regions enhances our ability to continue to scale, brings many attractive growth opportunities and simplifies our operational structure by creating greater efficiencies.”
“I wish to thank RE/MAX INTEGRA co-founders Frank Polzler and Walter Schneider and their amazing families for their dedication and passion in growing the RE/MAX brand over the 40-year tenure with our network,” added Contos. “Their RE/MAX story moves forward with INTEGRA’s RE/MAX Europe region, where they’ll continue to have a positive impact on region owners, franchisees, sales associates and consumers.”
Additionally, RE/MAX, LLC has promoted Nick Bailey, previously chief customer officer, to president of the organization.
Prior to rejoining RE/MAX in 2019, Bailey served as president and CEO of Century 21 Real Estate LLC, a subsidiary of Realogy, and as a vice president at Trulia/Zillow. Bailey was recognized as a 2021 RISMedia Real Estate Newsmaker in the Crusaders category for helping to drive growth at RE/MAX and focusing on the relationship HQ has with its broker/owners.
As president, Bailey will lead all aspects of the RE/MAX brand and business globally, according to the company, focusing on the growth and success of its membership.
“Adding almost 19,000 agents to our company-owned regions gives us the opportunity to scale faster than we have been able to in the past. It means more agents on the same systems, using the same products, combining resources and delivering a more consistent customer experience,” Bailey said. “This, coupled with our revamped technology stack, which is just beginning to gain traction, creates the perfect time to bring our biggest client back under the tent so that even more RE/MAX agents will have unfettered access to our tools, training and technology.”
The North America regions being acquired include five Canadian provinces (New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario and Prince Edward Island) and nine U.S. states (the New England states of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont, plus Indiana, Minnesota and Wisconsin).
“Frank and I knew RE/MAX was special from the very beginning in 1980,” said Walter Schneider, RE/MAX INTEGRA president and co-founder. “We were excited about taking an incredibly solid concept that we could help build from the ground up. It’s been a wonderful journey and the friendships we’ve made along the way will last a lifetime. We are confident in the leadership of Adam Contos, Nick Bailey and the entire RE/MAX, LLC team, as well as in their ability to facilitate a smooth transition and ensure a bright future for our affiliates in North America.”
“We thank RE/MAX co-founders Dave and Gail Liniger for their vision, partnership and friendship during these past four decades, and we look forward to continuing to represent the RE/MAX brand in Europe,” added Schneider.
“Helping grow RE/MAX into the industry’s premier brand and network has been the experience of a lifetime,” said Frank Polzler, RE/MAX INTEGRA chairman and co-founder. “Our North American regions will be in excellent hands, and I have no doubt that this new leadership will build on our foundation and take these regions to even greater heights.”
RE/MAX has secured commitments of $235 million in aggregate additional debt financing to fund the purchase. The closing is contingent on financing. They expect the transaction to close in the third quarter.
For more information, please visit www.remax.com.
