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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 offer pivotal instruments that our brokers have to win,” RE/MAX Correct CEO Paul Natividad mentioned in an announcement. “Partnering with the most important actual property franchise on the earth, with among the most top-producing brokers on the earth, 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 Report Pok mentioned the instruments and model recognition supplied by RE/MAX helped promote them on the conversion.

“This conversion has just about all constructive results for our brokers,” Pok mentioned. “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 crew with over 140,000 members that may assist one another of their development wants.”

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

“Given the trade situations, we anticipated stress on our U.S. agent rely to start out the yr however did see some encouraging traits towards the tip of the primary quarter,” RE/MAX Holdings CEO Steve Joyce mentioned 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 constructive 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 by means of the dividend — and we’re what may very well be an enhancing setting,” Joyce mentioned. “If that setting improves — that’s not baked into our numbers — so our sense is we’re seeing some constructive indicators and we’ll see if that continues by means of the remainder of the yr.”

E-mail Ben Verde