RE/MAX Holdings, Inc. is a franchisor of real estate brokerage services. Its business is to recruit and retain agents and sell franchises. The Company operates in two segments: Real Estate Franchise Services and Brokerages. The Real Estate Franchise Services segment comprises the operations of the Company's owned and independent global franchising operations and corporate-wide professional services expenses. The Brokerages reportable segment contains the operations of its 21 owned brokerage offices in the United States (which represent less than 1% of RE/MAX brokerages in the United States), the results of operations of a mortgage brokerage company, in which it owns a non-controlling interest and reflects the elimination of intersegment revenue and other consolidation entities. It operates in the real estate brokerage franchise industry in the United States, Canada and 95 other countries.