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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 needed to develop at a speedy tempo all whereas being able to offer pivotal instruments that our brokers must win,” RE/MAX Correct CEO Paul Natividad mentioned in an announcement. “Partnering with the biggest actual property franchise on the earth, with a few of the most top-producing brokers on the earth, was a no brainer for us.”

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

Dealer of Document Pok mentioned the instruments and model recognition provided by RE/MAX helped promote them on the conversion.

“This conversion has just about all optimistic 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 high of all that, they get to be on a worldwide crew with over 140,000 members that may help one another of their progress wants.”

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

“Given the business circumstances, we anticipated stress on our U.S. agent depend to start out the yr however did see some encouraging developments 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 in the course of 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 by the dividend — and we’re taking a look at what may very well be an bettering setting,” Joyce mentioned. “If that setting 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 by the remainder of the yr.”

E-mail Ben Verde