RE/MAX Northwest Acquired by RE/MAX International

An announcement from RE/MAX International:

RE/MAX International Acquires Its Largest Brokerage
in Washington: Strengthening Ownership in the Northwest

(Denver, CO June 1, 2007) – RE/MAX International is pleased to announce the acquisition of RE/MAX Northwest, their largest franchise operation in the state of Washington. The Seattle area brokerage has 320 agents working in 6 offices, and plans to open a seventh office in August.

Co-Founder and Chairman Dave Liniger said, “This acquisition demonstrates the RE/MAX commitment to be number one in Washington and the Pacific Northwest. We plan to provide the support services RE/MAX is famous for, but for the agents business will continue as usual. There will be no name change and no change in personnel.”

Current owners, Jerry Martin, Russ Schustek and Gary Hackney, who purchased the brokerage in 2002, will remain in place and continue to manage the day to day affairs of the business. RE/MAX Northwest offices made just under $2 billion in sales last year, the second highest in the entire RE/MAX Pacific Northwest region.

RE/MAX Northwest agents also set a high standard with their strong commitment to premier community citizenship. They have raised the greatest amount of money for the Children’s Miracle Network of any RE/MAX brokerage in the region.

Ralph and Margie Ripley, who first opened the RE/MAX Northwest brokerage in 1992, and who have remained with the firm as sales associates, plan to stay with the company after the acquisition. Gary Hackney said, “We have worked hard to continue the great legacy begun by Ralph and Margie, and I’m sure that RE/MAX International will honor our tradition by providing the leadership that will lead to even greater success.”

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Dave and Gail Liniger started RE/MAX in 1973, in Denver, CO. Thirty four years later, it has evolved into a global network represented by over 120,000 agents in more than 65 countries. Today, nearly all home listings nationwide can found at www.remax.com.