As mortgage rates rise and housing inventory remains low, the allure of the name recognition of big national brands is driving more independent brokerages to partner with them.Based in Ocala, Florida foxfire realty is the latest addition to the national brand, announcing its move to . RE/MAX on wednesday.
Founded in 1976 by Gene Boone, the brokerage firm is now RE/MAX Foxfire. Gene Boone will continue to run the company with his business partner and grandson, Owen Boone.
“RE/MAX’s national advertising campaign and brand breadth are notable advantages,” Boone said in a statement. “Our market is popular with out-of-state buyers and agents relocating from other states. They are not familiar with the Foxfire name and are looking for something familiar. Partnering with RE/MAX , you get the best of both worlds: an international brand with local roots.”
Foxfire cited RE/MAX’s technology products as a big draw for the brand.
“We are completely blown away by RE/MAX’s tools, technology, and RE/MAX culture,” Owen Boone, vice president and director of operations for RE/MAX Foxfire, said in a statement. “Right now, it’s very difficult to compete with franchises that are unaffiliated brokerages and provide technology and training. RE/MAX’s toolbox is very impressive: agent development, education, technology, Joining RE/MAX for marketing will greatly benefit our agents and their clients.”
RE/MAX Foxfire has 165 agents and had combined sales of nearly $400 million in 2022, the brokerage said. The company has four offices: two in Ocala, one in Summerfield and one in Lady Lake. The Boones plan to open a third Ocala office later this fall and will focus on assisting buyers and sellers of equestrian real estate.