About this episode

Nick and Dan discuss the implications of Real Brokerage's acquisition of RE/MAX and the current state of the real estate market.

Nick and Dan unpack Real Brokerage's acquisition of RE/MAX and argue the market reaction tells the real story, RMAX trading ~30% below the headline $13.80 deal value and REAX selling off signals investors aren't convinced the combination creates shareholder value. They frame it as two stressed models trying to solve each other's problems: RE/MAX needs modernization, Real needs distribution, but both are operating in a transaction recession (US existing-home sales at 30-year lows, CREA forecasting just 1% volume growth in 2026). The bigger thesis: we hit "peak Realtor" in 2022, and the brokerage subscription model, where agents are the customer, not just the labour, is starting to unwind in a Pareto-distributed industry full of net losers. Closes on the innovation paradox: brokerages need AI to retain agents, but not so much AI that consumers start questioning why they need the intermediary at all. EDMONTON MULTIPLEX EVENT Try it NordVPN risk-free now with a 30-day money-back guarantee! Use our code "realestate" to get 4 extras months from a 2 years plan Exchange-Traded Funds (ETFs) | BMO Global Asset Management LISTEN AD FREE See omnystudio.com/listener for privacy information.

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