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Subsequent Events
6 Months Ended
Jun. 30, 2022
Subsequent Events.  
Subsequent Events

14. Subsequent Events

On July 5, 2022, the Company entered into an agreement with InsideRE, LLC (“InsideRE”), the developers of the kvCORE platform, to provide technology to RE/MAX affiliates. The kvCORE platform will replace certain functionality currently provided by the booj platform. As a result, the Company expects to reduce its overall workforce by approximately 17% and the Company expects to incur a pretax cash charge for one-time termination benefits, which consist of severance and related costs, between approximately $5.8 million and $6.8 million in the third quarter of 2022. Additionally, on July 7, 2022, the Company issued a press release providing an update on its strategic initiatives centered on reinvigorating U.S. agent count growth, accelerating the expansion of its growing mortgage business and evaluating options regarding the ongoing operations of Gadberry Group.