Breaking News: RE/MAX Dominates Q4 with Record Mortgage Office Sign-Ups!

With Motto Mortgage experiencing a decline in office numbers for four consecutive quarters, the real estate landscape is evolving. In an ever-changing market, the need to adapt, innovate, and strategize is crucial for success. Embracing change and equipping yourself with the latest tools and knowledge can set you apart in the competitive world of real estate.

Key Points:

1. Challenges in Franchise Business: Motto Mortgage, a subsidiary of RE/MAX, has witnessed a decrease in the number of open offices, reaching levels last seen in 2022. The office count stood at 225 at the end of the year, marking an 8 percent decline from the previous year’s peak.
2. Franchise Model: While Motto Mortgage does not originate loans, it provides essential support to franchisors in terms of technology, training, and marketing tools. Each franchise operates independently and collaborates with wholesale lenders, such as the nation’s largest mortgage lender, UWM.
3. Franchise Agreements: Franchisees sign seven-year agreements directly with Motto Franchising, with 2024 being the first full year where offices have come up for renewal, reflecting a period of transition and potential growth opportunities.
4. Sales and Renewals: The slowdown in franchise sales has been attributed to factors like financial challenges, lack of transaction activity, and disconnect from the real estate market. However, there is optimism for growth as Motto Mortgage aims to expand its open office count soon.
5. Positive Outlook: Despite challenges, Motto Mortgage observed an uptick in franchise sales in September, reflecting a positive trend towards growth. Additionally, RE/MAX subsidiary wemlo experienced its best month of the year, indicating an overall upward trajectory for the business.

As we navigate through changing market dynamics and economic shifts, being part of platforms like Inman Connect New York can provide valuable insights, strategies, and connections to propel your real estate business forward. The Next Chapter is beckoning, inviting you to embrace new opportunities and conquer challenges. Join us at Inman Connect New York from January 22-24, 2025, and equip yourself with the tools to thrive in the evolving real estate landscape.