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 business segments: Real Estate Franchise Services, and Brokerage and Other. The Real Estate Franchise Services reportable segment comprises the operations of its owned and independent global franchising operations. The Company operates in the real estate brokerage franchise industry in more than 90 countries, including the United States and Canada. Effective December 31, 2012, the Company acquired certain assets of RE/MAX of Texas. Effective November 30, 2012, the Company sold substantially all of the assets of owned and operated regional franchising operations located in Eastern Australia and New Zealand and entered into regional franchising agreements with new independent owners of these regions.