Lombardo has been appointed president of Motto Mortgage, replacing Morrison, who will remain a consultant until 2025. He received 75,000 time-based restricted stock units, entering a position focused on scaling Motto’s and wemlo’s growth. Carlson emphasized Lombardo's innovative strategies to support brokerage owners and enhance market share. Despite a challenging mortgage environment, RE/MAX reported a 2.5% growth in agent count to 147,073 and a net income increase to $4.7 million, with Motto franchises down 9.1% year over year, totaling 219 locations.
Lombardo aims to scale Motto's and wemlo's growth, focusing on innovative strategies for Motto Mortgage brokerage owners and loan originators to strengthen offices and build market share.
Carlson stated that despite a challenging mortgage environment, resilient operators successfully navigate it, supported by new tools, including a pricing engine to boost productivity.
Motto Mortgage franchises decreased by 9.1% year over year, with a total of 219 locations, counted as brick-and-mortar offices with full franchise agreements.
RE/MAX's total agent count reached 147,073, up 2.5% year over year, with the company reporting $4.7 million in net income, a $1 million increase from the previous year.
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