RE/MAX Holdings, Inc. (NYSE:RMAX) Q2 2018 Earnings Conference Call - Final Transcript

Aug 03, 2018 • 08:30 am ET


RE/MAX Holdings, Inc. (NYSE:RMAX) Q2 2018 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript

Adam Contos

5. With our acquisition of leading real estate tech company booj the future of RE/MAX technology looks increasingly bright development work fueled by input from RE/MAX affiliates is already underway on what will become a full ecosystem of products on a single platform. Everything is being designed to help RE/MAX brokerages, agents and teams to grow their businesses. Connect with clients and operate more efficiently and strategically, providing the best online and offline experience for RE/MAX affiliates and consumers is one of our primary strategic technology goals.

We purchased booj in order to help develop a best-in-class technology platform that creates an online advantage for RE/MAX agents and teams and their clients. An online platform that will deliver substantial value to consumers and allow RE/MAX agents to connect with home buyers and sellers in a more meaningful and efficient way. Offline are experienced highly productive industry leading agents and teams already provide a second to none experience. Leveraging booj's existing technology stack we're developing a custom built integrated platform with products that interact and evolve with one another. Included will be a CRM integrated with agent, office and team websites, lead cultivation tools, marketing resources, social integration and more, all built with today's increasingly mobile agent in mind.

We will also leverage the capabilities of other strategic partners as we develop advanced technology solutions for the RE/MAX network. We are extremely pleased with the progress to date, process is critical in tech development and we are engaging our affiliates in the design and development of the platform every step of the way. We were collaboratively with our network together continual feedback from ongoing refinement and enhancement. And we look forward to reporting on additional milestones achieved in the months to come. The booj acquisition is one of many RE/MAX technology initiatives designed to further bolster our unmatched value proposition. Behind each initiative is the goal to automate, simplify and customize making our highly productive agents and teams even more efficient and successful.

For example, our recently approved design center now automatically generates marketing materials within hours of an MLS listing being created. This automated marketing platform creates comprehensive, customizable marketing packages including flyers, social pose, e-cards, virtual tours, videos, brochures and single property websites that are sent straight to our agents inboxes at no additional cost. Whether it is just listed, just sold, a price change or somewhere in between we are automating as much marketing as possible for our agents.

Enhancements like this automate time consuming tasks and make our agents and teams lives easier and more efficient and that presents a big advantage in both recruiting and retention. The network recognizes the added value of innovation such as design center automation. We're providing a tangible service that helps agents and teams win listings, please our sellers, get property sold and save time and money. The program is a win-win for brokers and agents alike.

Moving to slide 6. Motto Mortgage franchise sales expanded and office openings accelerated modestly