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 12 months’s peak of 246.
Whether or not it’s refining your enterprise 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 hundreds of actual property leaders Jan. 22-24, 2025.
Actual property franchising large RE/MAX’s Motto Mortgage enterprise has seen its open workplace depend 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 12 months, down 8 p.c from a 12 months in the past when the open workplace depend peaked at 246, mum or dad firm RE/MAX Holdings Inc. reported in a Jan. 8 regulatory submitting.
Motto Mortgage workplace depend
Supply: RE/MAX Holdings regulatory filings.
Motto Mortgage doesn’t make loans itself however gives know-how, coaching and advertising 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 largest mortgage lender.
Franchisees signal seven-year agreements straight with Motto Franchising; 2024 was the first full 12 months the corporate has had places of work come up for renewal.
Erik Carlson
Franchise gross sales have slowed and some present franchises have terminated “due to their financial position, lack of transaction activity or not being connected to the real estate transaction,” RE/MAX CEO Erik Carlson mentioned on the corporate’s Nov. 1 earnings name.
“While Motto has seen some of those terminations increase during the past year as the macro economy changes, we do believe we’ll be able to start growing that open office count again soon,” 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 gives third-party mortgage processing companies to mortgage brokers, additionally had its greatest month of the 12 months.
Get Inman’s Mortgage Transient E-newsletter delivered proper to your inbox. A weekly roundup of all the most important information on the earth of mortgages and closings delivered each Wednesday. Click on right here to subscribe.
