The news that REAL is acquiring RE/MAX hit more or less at the same time as the Compass-MRED alliance announcement so it took a backseat as I didn't think it was as important strategically for the industry as a whole. But that doesn't mean it isn't big news and important in and of itself. It is.

At the same time, details are so scarce as to be nonexistent so there isn't a lot to think about or say, except at the highest levels. So let's at least do that.

My initial takeaways are:

  1. This is the first real sign of consolidation in brokerage space (which includes franchises) that I predicted after the Compass-Anywhere merger announcement.
  2. The deal only makes sense in the new private listings era.
  3. It seems like an extremely high risk/high reward gamble for Real to make.

Let's get into it, shall we?