RE/MAX Holdings cuts 17% of workforce, launches team pilot, invests in mortgage

RE/MAX Holdings, Inc.

Workforce reduction of ~120 employees (17% of headcount) by end of 2022; pre-tax charge $5.75M-$6.75M in Q3 2022.
Agreement with InsideRE for kvCORE platform to replace booj; booj products expected to sunset mid-2023.
RE/MAX launches one-year pilot program for agent teams in CA, FL, MD, NJ, TX with reduced fees starting Aug 1, 2022.
Mortgage segment increases sales/marketing investment; Motto mandates wemlo processing; goal of $100M annual revenue.
Operating metrics: total agent count 143,939 (+2.7% YoY); Motto franchises 200 (+22% YoY).

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