This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

RE/MAX Files for $100 Million IPO

Stocks in this article: BAC RLGY Z TRLA

NEW YORK ( TheStreet) -- RE/MAX, a top franchisor of real estate brokerage services, is putting up its own "for sale" sign, saying on Monday it has publicly filed a registration statement for a proposed initial public offering of $100 million in common stock.

RE/MAX's prospective IPO comes amid a strong post-IPO performance from competitor Realogy (RLGY), as stock investors seek ways to gain exposure to the recovering housing market. Online real estate companies Zillow (Z) and Trulia (TRLA) have also seen strong stock market performance since going public in recent years.

RE/MAX opened in 1973 from a single office in Denver, Colo, and has grown to represent more than 92,000 real-estate agents globally. The RE/MAX brand name has held the number one market share in the U.S. and Canada since 1999.

Realogy, the franchisor of of Coldwell Banker, Century 21 and Sotheby's International agents is the world's largest player with about 241,700 sales associates as of 2012. In July, the Realogy's former private equity owner Apollo Global Management sold its remaining shares in a stock offering.

RE/MAX said in an S-1 filing with the Securities and Exchange Commission it intends to apply to list its common stock on the New York Stock Exchange (NYX). The firm's $100 million share sale is a placeholder for now and it hasn't yet disclosed any details on the pricing of its shares.

The company reported unaudited revenue of $143.7 million in 2012, up from $138.3 million the year before. Including pro-forma earnings from the firm's recent acquisition of assets of RE/MAX of Texas, the company said it it would have earned $33.6 million during 2012.

RE/MAX is listing as an "emerging growth company," as defined in the Jumpstart Our Business Startups Act of 2012, allowing the firm to take advantage of exemptions from some financial reporting requirements that are applicable to other public companies. The company said in its S-1 filing it has irrevocably elected to opt out of the extended transition period for complying with new or revised accounting standards of the JOBS Act.

RE/MAX currently is majority owned by its co-founders Dave Liniger and Gail Liniger, who serve as Chairman and Vice Chair respectively. RE/MAX executives own minority interests in the firm's shares and its S-1 only lists Weston Presidio as a general partner.

Morgan Stanley (MS), BofA Merrill Lynch (BAC) and JPMorgan (JPM) will act as joint book-running managers for the offering. Boutique investment bank Perella Weinberg Partners is advising RE/MAX.

-- Written by Antoine Gara in New York

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs