There's a big change underway at at Eden Prairie-based ReMax Results. Marshall Saunders, the co-owner and broker , is selling his half of the company to business partner, John Collopy. Collopy, co-owner and broker, said the change is effective October 1 and that the leadership team of both RE/MAX Results and Home Title will include CEO Lynn Foulke, and general manager, Brenda Tushaus.
“We are optimistic about 2015 and look forward to a long and bright future for RE/MAX Results and Home Title,” said Collopy.
Saunders isn't pulling out of the business entirely. He's leaving the company to pursue "some really cool stuff," he said.
Saunders plans to focus his energy on enabling people to invest in real estate through crowdfunding websites, a relatively new way for individuals to pool their money and invest in real estate. "I want to transform how people own commercial, multi-family and senior housing," he said.
According to the latest report from Real Trends, ReMax had $4,537,027,523 in volume and 18,470 transaction sides last year, making it the 19th largest company by volume in the country. The brokerage was founded in 1986 by Collopy and Bill Saunders, Marshall Saunders’ father.
Bill Saunders died in 2008 and Marshall, who had already been working for the company for more than a decade, took over his father’s interest in the company. At the time, the company had 450 agents. Today, ReMax Results has about 900 agents, Saunders said, making it the largest ReMax franchise in the world.