The Real Brokerage has agreed to acquire Re/Max Holdings in a deal valued at roughly $550M, the companies announced Monday.

Including debt, the total value of the deal between Denver-based Re/Max Holdings and Miami-based Real comes to roughly $880M.

The transaction is valued at $13.80 per share. Re/Max’s shares climbed by more than 20% to $9.71 a share by midday Monday, while Real’s dropped by 27% to $1.94 a share.

“This acquisition is an important step on our journey to build a technology platform that empowers real estate professionals and improves the consumer experience,” Real Chairman and CEO Tamir Poleg said in a statement.

The companies expect the deal to close in the second half of 2026, with Re/Max moving its headquarters to Miami while retaining its Denver operations.

The new entity will be known as Real Re/Max Group, but the companies will continue under their current brands.

Both companies are top 10 brokerages by sales volume, according to real estate consultant T3 Sixty’s 2026 ranking. Re/Max was No. 4, while Real was No. 7.

Once the deal goes through, the combined company will have more than 180,000 real estate agents, including 100,000 in the U.S. and Canada, as well as almost 8,500 franchises globally. Real shareholders will own 59% of the new entity, with Re/Max owning the rest.

The deal will combine Real’s artificial intelligence-powered brokerage platform with Re/Max’s brand and global franchise network. Re/Max’s national mortgage brokerage franchise brand, Motto Mortgage, is also included in Real’s acquisition.

Professionals in the combined company will be able to use Real’s integrated tech platform, reZEN, which the companies expect to expand revenue opportunities and lower operating costs.

“People are getting used to tech-driven experiences in other industries, and real estate has been lagging a little bit,” Poleg said in an interview with The Wall Street Journal, which first reported the deal.

Poleg will serve as Re/Max’s CEO and chairman, while Real Chief Operating Officer Jenna Rozenblat will serve as the chief integration officer for the transaction. The combined company’s new 10-member board will include three members from each brand.

Brokerages have been under pressure in recent years, between a sales market that has seen little movement since 2022 and numerous major lawsuits over commissions, leading some of the country’s largest brokerages to strike deals. That includes Anywhere Real Estate, the No. 1 brokerage by 2025 revenue, being acquired by Compass Real Estate, No. 3.