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Mar 31, 2020
RE/MAX Q1 2020 Earnings Report
RE/MAX Holdings' first quarter performance was affected by the COVID-19 pandemic, with revenue decreasing slightly and net income declining compared to the previous year.
Key Takeaways
RE/MAX Holdings reported a slight decrease in revenue and a decline in net income for the first quarter of 2020, as the COVID-19 pandemic began to impact the housing market. Total revenue was $70.3 million, a 1.3% decrease compared to the first quarter of 2019. Net income attributable to RE/MAX Holdings was $2.6 million, down from $4.4 million in the prior year.
Total agent count increased 5.0% to 131,816 agents.
U.S. and Canada combined agent count increased 0.2% to 84,191 agents.
Total open Motto Mortgage franchises increased 34.1% to 118 offices.
Revenue excluding the Marketing Funds increased 0.7% to $52.8 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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