Latest / Real Estate News Today | 2 Min News | The Daily News Now!
Real REMAX Halts Motto Expansion | Real Estate News
Real REMAX is pivoting big after its $880M merger, halting new Motto Mortgage franchise sales and consolidating all mortgage operations onto one platform—forcing existing franchisees to choose between staying or walking away. This sharp U-turn contrasts with earlier promises of maintaining the franchise model. The move follows a pre-merger decline in Motto offices—down 32% since last year—and aggressive pruning of underperforming locations. Leadership is also shifting, with Vic Lombardo stepping down and Kate Gurevich now leading the unified mortgage division. The strategy? Streamline…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.