Remax Posts Higher 2025 Net Income Despite U.s. Agent Drop

For REMAX, U.S. agent count remains a challenge, even as the company reported a larger net income in 2025 than it did in 2024, according to an earnings report published on Thursday evening. 

In 2025, REMAX reported a net income of $8.2 million, up from $7.1 million. This increase came despite revenue for the year dropping 5.2% annually to $291.6 million. Revenue also dropped year-over-year for the fourth quarter of 2025, falling 1.8% to $71.1 million, contributing to a decline in net income for the quarter from $5.8 million in Q4 2024 to $1.4 million in Q4 2025. 

The company attributed the decline in revenue for both the quarter and the year to a drop in organic revenue growth. Overall, for the full year 2025, organic revenue growth fell by 0.4%, which REMAX attributed to both the continued decline in U.S. agent count and the recently introduced modifications to the firm’s fee model. 

At the end of the fourth quarter of 2025, REMAX’s total agent count came in at 148,660 agents, up 1.4% annually. This increase was due to a 7.9% year-over-year increase in agent count outside of the U.S. and Canada, which came in at 75,683 agents. This offset the 6.1% annual decline in U.S. agent count (48,165 agents) and the 1.4% yearly decline in Canadian agent count (24,812 agents). 

Despite these declines, REMAX Holdings CEO Erik Carlson told investors and analysts on his firm’s Q4 2025 earnings call Friday morning that this was the company’s best fourth quarter performance for agent count since 2021. 

“The growth of the REMAX agent base outside the U.S. and Canada continues to fuel new records,” Carlson said. “That growth says a lot about the appeal of our modernized value proposition that we’re expanding around the globe. In the U.S., we continue to make progress in stabilizing agent count.” 

Carlson noted that REMAX’s Q4 2025 recruitment rate outpaced last year’s pace, building on the improvements recorded earlier in 2025. 

As Carlson looks ahead to 2026 and beyond, he remains optimistic about his firm’s agent count.

“We’re increasingly encouraged by our pipeline of merger and acquisition candidates across the U.S. and Canada,” he said. “We have a strong slate of sizable opportunities we plan to close and announce in the month ahead.”

Carlson also highlighted REMAX’s recently announced Aspire program, an onboarding program that the company says is designed to attract and develop the next generation of RE/MAX agents. According to Carlson, the program already has over 2,000 agents. 

“The program’s educational and technology elements position these newly recruited agents for sustained careers with the network,” Carlson said. 

Despite the challenges his firm is facing, Carlson is excited for the future and remains confident in REMAX. 

“We believe much of the excitement surrounding the RE/MAX brand is driven by the tremendous team effort that has reinvigorated our value proposition,” he said. “Our innovations are centered on enhancing our competitive advantages and helping agents win more business, save time, and make more money, which in turn helps in increased broker profitability.”