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RE/MAX expanded its presence in Southern California significantly this week with the alignment of a beforehand unaffiliated brokerage.

Lengthy Seaside-based Correct Actual Property has affiliated with the worldwide franchisor, bringing alongside 70 brokers and rebranding to RE/MAX Correct.

“We wished to develop at a speedy tempo all whereas being able to supply pivotal instruments that our brokers have to win,” RE/MAX Correct CEO Paul Natividad stated in a press release. “Partnering with the most important actual property franchise on this planet, with a number of the most top-producing brokers on this planet, was a no brainer for us.”

The brokerage serves purchasers from the Santa Maria to San Diego coastlines, specializing in single and multifamily properties, funding properties business buildings and land. Companions Jenny Pok, Natividad and Mike Sanchez will proceed main the brokerage.

Dealer of File Pok stated the instruments and model recognition supplied by RE/MAX helped promote them on the conversion.

“This conversion has nearly all optimistic results for our brokers,” Pok stated. “They get to be part of a big-name model with worldwide attain; they get top-notch instruments and a price proposition that’s unmatched by different main manufacturers. On prime of all that, they get to be on a worldwide group with over 140,000 members that may assist one another of their development wants.”

The conversion comes as RE/MAX’s agent depend continues to say no, with its incomes report launched this week exhibiting a 5.4 p.c annual decline in its U.S. agent depend, however a 2.6 p.c enhance in its Canada agent depend.

“Given the business circumstances, we anticipated strain on our U.S. agent depend to begin the yr however did see some encouraging developments towards the top of the primary quarter,” RE/MAX Holdings CEO Steve Joyce stated in a first-quarter earnings assertion.

RE/MAX additionally noticed its complete income drop 6.2 p.c yr over yr through the first quarter to $85.4 million.

On a name with traders Friday morning, Joyce expressed an general optimistic outlook for the remainder of the yr, Inman lately reported. 

“We’re investing within the enterprise, we’re persevering with to return capital to shareholders — notably via the dividend — and we’re what may very well be an bettering atmosphere,” Joyce stated. “If that atmosphere improves — that’s not baked into our numbers — so our sense is we’re seeing some optimistic indicators and we’ll see if that continues via the remainder of the yr.”

Electronic mail Ben Verde