RE/MAX Holdings operates as a franchisor of residential and commercial real estate brokerage services in the United States and internationally. It operates in two segments, Real Estate Franchise Services and Brokerages. The company was founded in 1973 and is based in Denver, Colorado.
RE/MAX, LLC, today announced its annual Broker Owner Conference (BOC) will be held virtually August 17-18, 2020. Adopting a theme of "[email protected] One World, One RE/MAX," the event will be open to a global audience, connecting the network's brokers and owners in more than 110 countries and territories together virtually to learn, network with each other, discover new tools and technology, and take their business to the next level.
Fewer sellers, fewer buyers: The first full month of coronavirus stay-at-home orders weighed on April home sales, causing them to drop an average of 20.2% compared to a year ago. Inventory in the report's 53 markets similarly tumbled by 20.5% year-over-year, while the Median Sale Price of $276,000 was up 9.3%.
Moody's Investors Service (Moody's) affirmed RE/MAX, LLC's (RE/MAX) existing ratings, including the Ba3 Corporate Family Rating, and changed the outlook to negative from stable. Concurrently, Moody's assigned a Speculative Grade Liquidity Rating of SGL-2, reflecting good liquidity. "The outlook change to negative reflects Moody's expectation that a sharp decline in home sale transaction volume in 2020 and disruptions to RE/MAX's and its franchisees business caused by the coronavirus outbreak will lead to earnings decline and a spike in leverage in 2020," according to Dilara Sukhov, Moody's lead analyst on Re/Max. "The protections offered by the company's 100%-franchise structure, good liquidity and the expectation that the company's metrics will rebound as the US housing market recove...