After 4 consecutive quarters of declines, Motto Mortgage had 225 open places of work on the finish of 2024, down 8 p.c from final yr’s peak of 246.
Whether or not it’s refining your online business mannequin, mastering new applied sciences, or discovering methods to capitalize on the subsequent market surge, Inman Join New York will put together you to take daring steps ahead. The Subsequent Chapter is about to start. Be a part of it. Be a part of us and 1000’s of actual property leaders Jan. 22-24, 2025.
Actual property franchising large RE/MAX’s Motto Mortgage enterprise has seen its open workplace rely shrink to ranges final seen in 2022 following 4 consecutive quarters of declines, the corporate revealed Wednesday.
There have been 225 Motto Mortgage places of work doing enterprise on the finish of the yr, down 8 p.c from a yr in the past when the open workplace rely peaked at 246, mother or father firm RE/MAX Holdings Inc. reported in a Jan. 8 regulatory submitting.
Motto Mortgage workplace rely
Supply: RE/MAX Holdings regulatory filings.
Motto Mortgage doesn’t make loans itself however supplies expertise, coaching and advertising and marketing instruments to franchisors. Every Motto Mortgage franchise is independently owned, operated and licensed by mortgage brokers who work with wholesale lenders like UWM, the nation’s greatest mortgage lender.
Franchisees signal seven-year agreements instantly with Motto Franchising; 2024 was the primary full yr the corporate has had places of work come up for renewal.
Erik Carlson
Franchise gross sales have slowed and some current franchises have terminated “as a consequence of their monetary place, lack of transaction exercise or not being linked to the actual property transaction,” RE/MAX CEO Erik Carlson mentioned on the corporate’s Nov. 1 earnings name.
“Whereas Motto has seen a few of these terminations enhance through the previous yr because the macro economic system modifications, we do consider we’ll be capable of begin rising that open workplace rely once more quickly,” Carlson mentioned.
Carlson mentioned September was the perfect month of Motto franchise gross sales since March of 2023 and that RE/MAX subsidiary wemlo, which supplies third-party mortgage processing companies to mortgage brokers, additionally had its finest month of the yr.
Get Inman’s Mortgage Temporary E-newsletter delivered proper to your inbox. A weekly roundup of all the largest information on the earth of mortgages and closings delivered each Wednesday. Click on right here to subscribe.
E-mail Matt Carter
