# Real and RE/MAX shareholders approve the $880 million merger > The vote clears the way for RE/MAX's roughly 8,500 franchise offices to get access to reZEN, the transaction platform every one of Real's own agents already works in, on an opt-in basis. Closing is expected within weeks, pending one remaining court approval in British Columbia. **Section:** Software Watch **Published:** August 18, 2026 **Byline:** TC Bulletin Staff **Canonical URL:** https://tcbulletin.com/software/real-remax-shareholders-approve-880-million-merger **Publisher:** TC Bulletin (tcbulletin.com) ## Key points - Real (NASDAQ: REAX) and RE/MAX Holdings (NYSE: RMAX) shareholders approved their combination on 14 August 2026: 99.0% of Real's votes cast and 78.8% of RE/MAX Holdings' voting power. - The combined company, Real REMAX Group, is led by current Real chief executive Tamir Poleg. RE/MAX Holdings shareholders may elect 5.152 shares of the new company or $13.80 cash per share, subject to an aggregate cash collar of $60 million to $80 million. - The deal values RE/MAX Holdings at approximately $880 million, a multiple of 7x 2025 EBITDA. Real secured $550 million in financing, led by Morgan Stanley Senior Funding and Apollo Global Funding, to refinance RE/MAX's debt and fund the cash portion. - Closing is expected within weeks of the 14 August vote, pending final approval from the Supreme Court of British Columbia. As of 18 August the deal had not closed. - RE/MAX's roughly 8,500 franchise offices and more than 145,000 agents will get the option, not the requirement, to adopt reZEN, Real's transaction management and back-office platform, which all of Real's own 33,000-plus agents already use. --- The vote that clears an $880 million real estate merger is not usually a software story. This one is, because the asset RE/MAX's franchise network is being offered access to is the system its coordinators would work in. ## The vote, and what is left Real and RE/MAX Holdings announced shareholder approval on 14 August 2026, from separate special meetings: Real's shareholders approved the combination with approximately 99.0% of the votes cast, and RE/MAX Holdings' shareholders approved it with 78.8% of the voting power of RE/MAX Holdings common stock. The release states the parties expect the transaction to close shortly after satisfaction of all closing conditions, which is expected to take place in the next couple of weeks, with the remaining condition being final approval from the Supreme Court of British Columbia. As of 18 August 2026 the deal had not closed. The combined company will operate as Real REMAX Group, led by Real's current chairman and chief executive Tamir Poleg, who said in the release: 'Together, through Real REMAX Group, we'll have the scale, talent and resources to invest more, build faster.' The RE/MAX brand and its Motto Mortgage business keep their names. ### The deal, as announced | Measure | Value | Note | | --- | --- | --- | | Shareholder vote | 14 August 2026 | Real 99.0% of votes cast, RE/MAX 78.8% of voting power | | RE/MAX Holdings valuation | About $880m | 7x 2025 EBITDA | | RE/MAX shareholder election | 5.152 shares or $13.80 cash | Cash collar of $60m to $80m in aggregate | | Financing secured | $550m | Led by Morgan Stanley Senior Funding and Apollo Global Funding | | Remaining condition | BC Supreme Court approval | Closing expected within weeks of the vote | | Combined pro forma 2025 revenue | About $2.3bn | $157m adjusted EBITDA before synergies | ## The platform RE/MAX offices are being offered The companies' announcement describes reZEN as Real's proprietary integrated transaction management and back-office platform, used by all of Real's own agents, more than 33,000 of them across 50 states and five Canadian provinces. It handles deal files, documents and commission payouts in one system, alongside Real's Leo AI tools and its Real Wallet commission-payout product. Per Inman's reporting on 29 April 2026, when the deal was first announced, a Real spokesperson described the rollout to RE/MAX's network as opt-in: 'REMAX franchisees will have the option to stay on REMAX's tech platform or switch to reZEN.' No mandatory migration date has been set, and adoption is expected to run franchise by franchise rather than on a company-wide schedule. > **Why that matters for a coordinator on either side.** RE/MAX has not run a proprietary end-to-end transaction platform of its own since it shut down its in-house booj system in 2022, leaving individual franchises to run whatever mix of third-party tools they chose, commonly SkySlope, Dotloop or Paperless Pipeline. A coordinator working RE/MAX files should expect the answer to 'which system are we on' to start varying by office as adoption proceeds, rather than changing all at once. ## What is not yet public The companies' releases do not state a target date for the deal's closing beyond the couple of weeks, a firm timeline for reZEN rollout to RE/MAX offices, or whether NAR, MLS or state-association forms integrations built for RE/MAX's current mix of platforms will carry over or need rebuilding under reZEN. TC Bulletin will report the closing date and any rollout schedule once the companies publish one. > **Scope of this story.** TC Bulletin reports the companies' own announcements and Inman's contemporaneous reporting of the deal terms. The reZEN description is the companies' own characterisation of their product; this story does not evaluate the platform. ### Primary sources for this story - [Real and RE/MAX Holdings, shareholder approval release](https://www.prnewswire.com/news-releases/real-and-remax-holdings-securityholders-approve-proposed-combination-302852137.html): 14 August 2026 - [Real and RE/MAX Holdings, original combination announcement](https://www.stocktitan.net/sec-filings/RMAX/425-re-max-holdings-inc-business-combination-communication-e5ab3024f4fc.html): 27 April 2026, mirrored from the SEC filing - [Inman, what RE/MAX agents can expect from Real's technology suite](https://www.inman.com/2026/04/29/what-remax-agents-can-expect-from-reals-technology-suite/): 29 April 2026. Secondary --- ## Sources cited - Real and RE/MAX Holdings, shareholder approval release: https://www.prnewswire.com/news-releases/real-and-remax-holdings-securityholders-approve-proposed-combination-302852137.html - Inman: https://www.inman.com/2026/04/29/what-remax-agents-can-expect-from-reals-technology-suite/ Topics: transaction-software TC Bulletin publishes independent trade coverage of the transaction coordination profession. Reuse is permitted with attribution and a link to the canonical URL above. See https://tcbulletin.com/syndication.