RE/MAX (RMAX) 10-Q 6 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 29, 2016
Document And Entity Information [Line Items]
Entity Registrant Name	RE/MAX Holdings, Inc.
Entity Central Index Key	1,581,091
Document Period End Date	Mar. 31, 2016
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Trading Symbol	rmax
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Class A common stock
Document And Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		17,645,696
Class B common stock
Document And Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 95,673,000	$ 110,212,000
Accounts and notes receivable, current portion, less allowances of $4,637 and $4,483, respectively	17,173,000	16,769,000
Assets held for sale		354,000
Other current assets	2,831,000	4,079,000
Total current assets	115,677,000	131,414,000
Property and equipment, net of accumulated depreciation of $13,179 and $13,183, respectively	2,691,000	2,395,000
Goodwill	75,004,000	71,871,000
Deferred tax assets, net	108,065,000	109,365,000
Other assets, net of current portion	2,213,000	1,861,000
Total assets	372,835,000	383,786,000
Current liabilities:
Accounts payable	608,000	449,000
Accounts payable to affiliates	130,000	66,000
Accrued liabilities	10,960,000	16,082,000
Income taxes payable	1,304,000	451,000
Tax and other distributions payable to non-controlling unitholders	3,003,000
Deferred revenue and deposits	16,983,000	16,501,000
Current portion of debt	14,332,000	14,805,000
Current portion of payable pursuant to tax receivable agreements	7,148,000	8,478,000
Liabilities held for sale		351,000
Other current liabilities	50,000	71,000
Total current liabilities	54,518,000	57,254,000
Debt, net of current portion	173,029,000	185,552,000
Payable pursuant to tax receivable agreements, net of current portion	91,557,000	91,557,000
Deferred tax liabilities, net	131,000	120,000
Other liabilities, net of current portion	9,957,000	9,889,000
Total liabilities	$ 329,192,000	$ 344,372,000
Commitments and contingencies (note 12)
Stockholders' equity:
Additional paid-in capital	$ 445,970,000	$ 445,081,000
Retained earnings	6,951,000	4,693,000
Accumulated other comprehensive income (loss), net of tax	158,000	(105,000)
Total stockholders' equity	453,081,000	449,671,000
Non-controlling interest	(409,438,000)	(410,257,000)
Total stockholders' equity	43,643,000	39,414,000
Total liabilities and stockholders' equity	372,835,000	383,786,000
Class A common stock
Stockholders' equity:
Common stock	2,000	2,000
Franchise agreements
Current assets:
Franchise agreements, net of accumulated amortization of $103,940 and $100,499, respectively	63,598,000	61,939,000
Other intangible assets
Current assets:
Franchise agreements, net of accumulated amortization of $103,940 and $100,499, respectively	5,587,000	4,941,000
Other intangible assets, net of accumulated amortization of $8,410 and $8,929, respectively	$ 5,587,000	$ 4,941,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accounts and notes receivable, current portion, allowances	$ 4,637	$ 4,483
Property and equipment, accumulated depreciation	13,179	13,183
Franchise agreements
Franchise agreements and other intangible assets, accumulated depreciation	103,940	100,499
Other intangible assets
Franchise agreements and other intangible assets, accumulated depreciation	$ 8,410	$ 8,929
Class A common stock
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	180,000,000	180,000,000
Common stock, shares issued	17,584,351	17,584,351
Common stock, shares outstanding	17,584,351	17,584,351
Class B common stock
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	1,000	1,000
Common stock, shares issued	1	1
Common stock, shares outstanding	1	1

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue:
Continuing franchise fees	$ 18,907	$ 17,660
Annual dues	7,904	7,802
Broker fees	7,201	6,420
Franchise sales and other franchise revenue	8,793	8,426
Brokerage revenue	112	3,899
Total revenue	42,917	44,207
Operating expenses:
Selling, operating and administrative expenses	23,232	25,071
Depreciation and amortization	3,721	3,811
Loss on sale or disposition of assets, net	107	2
Total operating expenses	27,060	28,884
Operating income	15,857	15,323
Other expenses, net:
Interest expense	(2,281)	(2,809)
Interest income	51	67
Foreign currency transaction gains (losses)	164	(1,421)
Loss on early extinguishment of debt	(136)	(94)
Equity in earnings of investees		212
Total other expenses, net	(2,202)	(4,045)
Income before provision for income taxes	13,655	11,278
Provision for income taxes	(3,259)	(2,148)
Net income	10,396	9,130
Less: net income attributable to non-controlling interest	5,456	6,379
Net income attributable to RE/MAX Holdings, Inc.	$ 4,940	$ 2,751
Net income attributable to RE/MAX Holdings, Inc. per share
Basic	$ 0.28	$ 0.23
Diluted	$ 0.28	$ 0.22
Weighted average shares outstanding
Weighted average shares outstanding, Diluted	17,584,351	11,817,605
Diluted	17,638,667	12,293,505
Class A common stock
Net income attributable to RE/MAX Holdings, Inc. per share
Basic	$ 0.28	$ 0.23
Diluted	$ 0.28	$ 0.22
Weighted average shares outstanding
Weighted average shares outstanding, Diluted	17,584,351	11,817,605
Diluted	17,638,667	12,293,505
Cash dividends declared per share	$ 0.1500	$ 1.6250

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 10,396	$ 9,130
Change in cumulative translation adjustment	564	(533)
Other comprehensive income (loss), net of tax	564	(533)
Comprehensive income	10,960	8,597
Less: comprehensive income attributable to non-controlling interest	5,757	6,059
Comprehensive income attributable to RE/MAX Holdings, Inc., net of tax	$ 5,203	$ 2,538

Condensed Consolidated Statemen

Condensed Consolidated Statement of Stockholders' Equity - 3 months ended Mar. 31, 2016 - USD ($) $ in Thousands	Additional paid-in capital	Common StockClass A common stock	Common StockClass B common stock	Retained earningsClass A common stock	Retained earnings	Accumulated other comprehensive (loss), net of tax	Non-controlling interest	Class A common stock	Class B common stock	Total
Beginning balance, Value at Dec. 31, 2015	$ 445,081	$ 2			$ 4,693	$ (105)	$ (410,257)			$ 39,414
Beginning balance, Shares at Dec. 31, 2015		17,584,351	1					17,584,351	1
Net income					4,940		5,456			10,396
Distributions paid and payable to non-controlling unitholders							(4,887)			(4,887)
Equity-based compensation expense	766									766
Dividends to Class A common stockholders				$ 2,638				$ 2,638
Change in accumulated other comprehensive income (loss)						263	301			564
Ending balance, Value at Mar. 31, 2016	445,970	$ 2			6,951	$ 158	(409,438)			43,643
Ending balance, Shares at Mar. 31, 2016		17,584,351	1					17,584,351	1
Cumulative effect adjustment from change in accounting principle	$ 123				$ (44)		$ (51)			$ 28

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 10,396	$ 9,130
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,721	3,811
Bad debt expense	146	205
Loss on sale or disposition of assets, net	107	2
Loss on early extinguishment of debt	136	94
Equity-based compensation expense	766	142
Non-cash interest expense	115	97
Deferred income tax expense	1,153	681
Changes in operating assets and liabilities:
Accounts and notes receivable, current portion	(506)	(2,121)
Advances from/to affiliates	47	326
Other current and noncurrent assets	1,440	1,128
Other current and noncurrent liabilities	(4,122)	479
Deferred revenue and deposits current portion	423	1,550
Payment pursuant to tax receivable agreement	(1,344)
Net cash provided by operating activities	12,478	15,524
Cash flows from investing activities:
Purchase of property, equipment and software	(1,389)	(335)
Proceeds from sale of property and equipment		10
Capitalization of trademark costs	(13)	(23)
Acquisitions, net of cash acquired of $131	(8,369)
Dispositions	200
Cost to sell assets	(146)
Net cash used in investing activities	(9,717)	(348)
Cash flows from financing activities:
Payments on debt	(13,247)	(7,840)
Capitalized debt amendment costs		(555)
Distributions to non-controlling unitholders	(1,884)	(65)
Dividends paid to Class A common stockholders	(2,638)
Payments on capital lease obligations	(27)	(71)
Proceeds from exercise of stock options		937
Net cash used in financing activities	(17,796)	(7,594)
Effect of exchange rate changes on cash	496	(235)
Net (decrease) increase in cash and cash equivalents	(14,539)	7,347
Cash and cash equivalents, beginning of year	110,212	107,199
Cash and cash equivalents, end of period	95,673	114,546
Supplemental disclosures of cash flow information:
Cash paid for interest and debt amendment costs	2,280	2,712
Net cash paid for income taxes	1,253	846
Schedule of non-cash investing and financing activities:
Tax and other distributions payable to non-controlling unitholders	3,003	30,830
Dividends payable to Class A common stockholders		19,383
Note receivable received as consideration for sale of brokerage operations assets	150
Capital leases for property and equipment	30	412
Increase in accounts payable for capitalization of trademark costs and purchases of property, equipment and software	$ 456	$ 148

Consolidated Statements of Cas8

Consolidated Statements of Cash Flows (Paranthetical) $ in Thousands	Mar. 31, 2016USD ($)
Operating Cash Flows, Direct Method [Abstract]
Cash acquired	$ 131

Business and Organization

Business and Organization	3 Months Ended
	Mar. 31, 2016
Business and Organization
Business and Organization	1. Business and Organizat ion RE/MAX Holdings, Inc. (“RE/MAX Holdings”) was formed as a Delaware corporation on June 25, 2013 and was capitalized on July 8, 2013. On October 7, 2013, RE/MAX Holdings completed an initial public offering (the “IPO”) of 11,500,000 shares of Class A common stock at a public offering price of $22.00 per share. A portion of the proceeds received by RE/MAX Holdings from the IPO was used to acquire the net business assets of HBN, Inc. (“HBN”) and Tails, Inc. (“Tails”) in the Southwest and Central Atlantic regions of the United States (“U.S.”), respectively, which were subsequently contributed to RMCO, LLC and its consolidated subsidiaries (“RMCO”), and the remaining proceeds were used to purchase common membership units in RMCO. After completion of the IPO, RE/MAX Holdings owned 39.56% of the common membership units in RMCO. During the fourth quarter of 2015, RIHI, Inc. (“RIHI”) redeemed 5,175,000 common units in RMCO in exchange for newly issued shares of RE/MAX Holdings’ Class A common stock on a one -for-one basis. Immediately upon redemption, RIHI sold its 5,175,000 shares of Class A common stock at $36.00 per share, less underwriting discounts and commissions (the “Secondary Offering”). As of March 31, 2016, RE/MAX Holdings owns 58.33% of the common membership units in RMCO. RE/MAX Holdings’ only business is to act as the sole manager of RMCO and, in that capacity, RE/MAX Holdings operates and controls all of the business and affairs of RMCO. As a result, RE/MAX Holdings consolidates the financial position and results of operations of RMCO. RE/MAX Holdings and its consolidated subsidiaries, including RMCO, are referred to hereinafter as the “Company.” The Company is one of the leading franchisors of residential and commercial real estate brokerage services throughout the U.S. and globally. During 2015, the Company operated a small number of real estate brokerage offices in the U.S. As discussed in Note 5, Acquisitions and Dispositions , the Company sold certain operating assets and liabilities of these brokerage offices during 2015 and the first quarter of 2016 and, subsequent thereto, no longer operates any real estate brokerage offices and no longer recognizes brokerage revenue. The Company’s revenue is derived from continuing franchise fees (which consist of fixed contractual fees paid monthly by regional franchise owners and franchisees based on the number of agents in the respective franchised region or office), annual dues from agents, broker fees (which consist of fees paid by regional franchise owners and franchisees for real estate commissions paid by customers when an agent sells a home), franchise sales and other franchise revenue (which consist of fees from initial sales and renewals of franchises, regional franchise fees, preferred marketing arrangements, approved supplier programs and event-based revenue from training and other programs) and brokerage revenue (which consists of fees assessed by the Company’s previously-owned brokerages for services provided to their affiliated real estate agents). The Company, as a franchisor, grants each broker-owner a license to use the RE/MAX brand, trademark, promotional and operating materials and concepts.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial statements are unaudited and comprise the condensed consolidated financial statements of the Company and have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and with Article 10 of Regulation S-X. In compliance with those instructions, certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The accompanying condensed consolidated financial statements are presented on a consolidated basis and include the accounts of RE/MAX Holdings and its consolidated subsidiaries. All significant intercompany accounts and transactions have been eliminated. In the opinion of management, the accompanying condensed consolidated financial statements reflect all normal and recurring adjustments necessary to present fairly the Company’s financial position as of March 31, 2016 and December 31, 2015, the results of its operations and comprehensive income for the three months ended March 31, 2016 and 2015, changes in its stockholders’ equity for the three months ended March 31, 2016 and results of its cash flows for the three months ended March 31, 2016 and 2015. Interim results may not be indicative of full year performance. These condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements within the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant areas in which management uses assumptions include, among other things, the establishment of the allowance for doubtful trade accounts and notes receivable, the determination of the estimated lives of intangible assets, the estimates for amounts accrued for litigation matters, the estimates of the fair value of reporting units used in the annual assessment of goodwill, the fair value of assets acquired and the amounts due to RIHI and Oberndorf Investments LLC (“Oberndorf”) pursuant to the terms of the tax receivable agreements (“TRAs”) discussed in more detail in Note 3, Non-controlling Interest . Actual results could differ from those estimates. Reclassifications Certain items in the accompanying condensed consolidated financial statements as of December 31, 2015 and for the three months ended March 31, 2015 have been reclassified to conform to the 2016 presentation. Segment Reporting Prior to 2016, the Company operated in two reportable segments, (1) Real Estate Franchise Services and (2) Brokerages. The Real Estate Franchise Services reportable segment comprised the operations of the Company’s owned and independent global franchising operations under the RE/MAX brand name, intersegment revenue from the Company’s previously-owned brokerages and corporate-wide professional services expenses. The Brokerages reportable segment contained the operations of the Company’s previously-owned brokerage offices in the U.S., the results of operations of a mortgage brokerage company in which the Company previously-owned a non-controlling interest and reflected the elimination of intersegment revenue and other consolidation entries. During 2015 and the first quarter of 2016, the Company sold its 21 previously-owned brokerage offices in the Washington, D.C., Portland, Oregon and Seattle, Washington metropolitan areas, as discussed in Note 5, Acquisitions and Dispositions . These dispositions resulted in the cessation of operations for the Company’s Brokerages reportable segment. Thus, during the first quarter of 2016, the Company began to operate in one reportable segment, Real Estate Franchise Services. All prior segment information has been reclassified to reflect the Company’s new segment structure. Principles of Consolidation RE/MAX Holdings holds an approximate 60% economic interest in RMCO and, as its managing member, RE/MAX Holdings controls RMCO’s operations, management and activities. As a result, RE/MAX Holdings consolidates RMCO and records a non-controlling interest in the accompanying Condensed Consolidated Balance Sheets and records net income attributable to the non-controlling interest and comprehensive income attributable to the non-controlling interest in the accompanying Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Comprehensive Income, respectively. Recent Accounting Pronouncements Under the Jumpstart Our Business Startups Act (“JOBS Act”), the Company meets the definition of an emerging growth company. The Company has irrevocably elected to opt out of the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act. In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , which simplifies certain aspects of accounting for share-based payment transactions, including income tax consequences, statutory tax withholding requirements, forfeitures and classification in the statement of cash flows. ASU 2016-09 is effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2016. Early adoption is permitted in any interim or annual reporting period. The standard requires the guidance related to forfeitures and the timing of when excess tax benefits are recognized to be applied using a modified retrospective transition method, the guidance related to the accounting for income taxes to be applied prospectively, and the guidance related to the presentation of excess tax benefits on the statement of cash flows to be applied either prospectively or retrospectively. The Company early adopted ASU 2016-09 in the first quarter of 2016 and elected to account for forfeitures as they occur. As a result, the Company recorded a cumulative-effect adjustment of $44,000 to “Retained Earnings” in the accompanying Condensed Consolidated Balance Sheets and Statements of Stockholders’ Equity. Furthermore, the Company elected to apply the retrospective transition method to the amendments related to the presentation of excess tax benefits in the statements of cash flows. This resulted in an increase in cash flows provided by operating activities of $1,105,000 and a decrease of $1,105,000 in cash flows used in financing activities in the accompanying Condensed Consolidated Statements of Cash Flows for the period ended March 31, 2015. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires lessees to recognize the assets and liabilities that arise from all leases on the consolidated balance sheets. ASU 2016-02 is effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2018. Early adoption is permitted in any interim or annual reporting period. The standard requires a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. The Company has not yet determined the effect of the standard on its consolidated financial statements and related disclosures. In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes , which requires that deferred tax assets and liabilities be classified as non-current in a classified balance sheet. ASU 2015-17 is effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2016. The standard permits the use of either the retrospective or prospective transition method and permits early adoption as of the beginning of an interim or annual reporting period. The Company elected to early adopt this standard retrospectively in the first quarter of 2016 and the presentation of “Other current assets” and “Deferred tax assets, net” in the accompanying Condensed Consolidated Balance Sheets and related disclosures were impacted by $3,332,000 as of December 31, 2015, but the company’s consolidated results of operations were not affected. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting Measurement-Period Adjustments , which eliminates the requirement for an entity to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is completed. ASU 2015-16 became effective prospectively for the Company on January 1, 2016. The adoption of this standard did not have a significant impact on the Company’s consolidated financial statements and related disclosures. In June 2015, the FASB issued ASU 2015-10, Technical Corrections and Improvements , which both clarifies and simplifies content in the FASB Accounting Standards Codification and corrects unintended application of U.S. GAAP. ASU 2015-10 became effective for the Company on January 1, 2016. The adoption of this standard did not have a significant impact on the Company’s consolidated financial statements and related disclosures. In April 2015, the FASB issued ASU 2015-05, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement , which provides guidance on fees paid in a cloud computing arrangement and clarifies the accounting for a software license element of a cloud computing arrangement. ASU 2015-05 became effective prospectively for the Company on January 1, 2016. The adoption of this standard did not have a significant impact on the consolidated financial statements and related disclosures. In April 2015, the FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs , which requires an entity to present debt issuance costs related to a debt liability as a direct deduction from the debt liability rather than as an asset. ASU 2015-03 is effective retrospectively for the Company on January 1, 2016. The adoption of this standard impacted the presentation of “Debt, net of current portion” in the accompanying Condensed Consolidated Balance Sheets and related disclosures by $1,527,000 as of December 31, 2015, but did not affect the Company’s consolidated results of operations. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , which defers the effective date of the guidance in ASU 2014-09 by one year. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing , which provides clarification on identifying performance obligations and accounting for licenses of intellectual property. These standards are effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2017. Early application is permitted for annual reporting periods beginning after December 15, 2016, including interim reporting periods within such annual reporting periods. The standard permits the use of either the retrospective or cumulative effect transition method. The Company has not yet selected a transition method nor has it determined the effect of the standard on its consolidated financial statements and related disclosures. In April 2014, the FASB issued ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity . ASU 2014-08 limits discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have (or will have) a major effect on an entity’s operations and financial results. ASU 2014-08 also provides guidance on the financial statement presentation and disclosures of discontinued operations. ASU 2014-08 became effective prospectively for the Company on January 1, 2015 and none of the dispositions that occurred during 2015 and the first quarter of 2016 qualified as a discontinued operation. See Note 5, Acquisitions and Dispositions , for additional information. Critical Accounting Judgments and Estimates There have been no changes in the Company’s critical accounting judgments and estimates from those that were disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The Company believes that the disclosures herein are adequate so that the information presented is not misleading.

Non-controlling Interest

Non-controlling Interest	3 Months Ended
	Mar. 31, 2016
Noncontrolling Interest
Non-controlling Interest	3. Non-controlling Interest RE/MAX Holdings is the sole managing member of RMCO and subsequent to the IPO, began to operate and control all of the business affairs of RMCO. As a result, RE/MAX Holdings began to consolidate RMCO on October 7, 2013, and because RE/MAX Holdings and RMCO are entities under common control, such consolidation has been reflected for all periods presented. RE/MAX Holdings owns a 58.33% economic interest in RMCO as of March 31, 2016 and December 31, 2015 and records a non-controlling interest for the remaining 41.67% economic interest in RMCO held by RIHI as of March 31, 2016 and December 31, 2015. RE/MAX Holdings’ only sources of cash flow from operations are distributions from RMCO and management fees received pursuant to the management services agreement between RE/MAX Holdings and RMCO. “Net income attributable to non-controlling interest” in the accompanying Condensed Consolidated Statements of Income represents the portion of earnings attributable to the economic interest in RMCO held by the non-controlling unitholders. As of October 7, 2013, “Non-controlling interest” in the accompanying Condensed Consolidated Balance Sheets represented the carryover basis of RIHI’s capital account in RMCO. Prospectively, the non-controlling interest will be adjusted to reflect tax and other cash distributions made to, and the income allocated to, the non-controlling unitholders, as well as future redemptions of common units in RMCO pursuant to the Fourth Amended and Restated Limited Liability Company Agreement (“RMCO, LLC Agreement”). The ownership of the common units in RMCO is summarized as follows: March 31, December 31, 2016 2015 Shares Ownership % Shares Ownership % Non-controlling unitholders ownership of common units in RMCO % % RE/MAX Holdings, Inc. outstanding Class A common stock (equal to RE/MAX Holdings, Inc. common units in RMCO) % % Total common units in RMCO % % The weighted average ownership percentages for the applicable reporting periods are used to calculate the net income attributable to RE/MAX Holdings. RE/MAX Holdings’ weighted average ow nership percentage in RMCO for the three months ended March 31, 2016 and 2015 was 58.33% and 39.99% , respectively. RE/MAX Holdings’ economic interest in RMCO increased due to the increase in common units from the issuance of shares of Class A common stock as a result of the Secondary Offering described in Note 1, Business and Organization. A reconciliation of “Net income attributable to RE/MAX Holdings, Inc.” in the accompanying Condensed Consolidated Statements of Income for the periods indicated is detailed as follows (in thousands): Three Months Ended March 31, 2016 2015 Income before provision for income taxes attributable to RE/MAX Holdings, Inc. $ $ Provision for income taxes attributable to RE/MAX Holdings, Inc. Net income attributable to RE/MAX Holdings, Inc. $ $ A reconciliation of the “Provision for income taxes” in the accompanying Condensed Consolidated Statements of Income for the periods indicated is detailed as follows (in thousands): Three Months Ended March 31, 2016 2015 Provision for income taxes attributable to RE/MAX Holdings, Inc. (a) $ $ Provision for income taxes attributable to entities other than RE/MAX Holdings, Inc. (b) Provision for income taxes $ $ (a) The provision for income taxes attributable to RE/MAX Holdings includes all U.S. federal and state income taxes as well as RE/MAX Holdings’ proportionate share of the net assets of RMCO of the taxes imposed directly on RE/MAX, LLC, a wholly-owned subsidiary of RMCO, related to tax liabilities in certain foreign jurisdictions of $335,000 and $262,000 for the three months ended March 31, 2016 and 2015, respectively. (b) The provision for income taxes attributable to entities other than RE/MAX Holdings represents taxes imposed directly on RE/MAX, LLC related to tax liabilities in certain foreign jurisdictions that are allocated to the non-controlling interest. Distributions and Other Payments to Non-controlling Unitholders Distributions for Taxes As a limited liability company (treated as a partnership for income tax purposes), RMCO does not incur significant federal, state or local income taxes, as these taxes are primarily the obligations of its members. As authorized by the RMCO, LLC Agreement, RMCO is generally required to distribute cash on a pro-rata basis to its members to the extent necessary to cover each member’s estimated tax liabilities, if any, with respect to their allocable share of RMCO earnings, but only to the extent that any other discretionary distributions from RMCO for the relevant period were otherwise insufficient to enable each member to cover its estimated tax liabilities. RMCO makes such tax distributions to its members based on an estimated tax rate stipulated in the RMCO, LLC Agreement. Distributions for taxes paid or payable to or on behalf of non-controlling unitholders under the RMCO, LLC Agreement were $3,003,000 and $2,076,000 during the three months ended March 31, 2016 and 2015, respectively, and are recorded in “Non-controlling interest” in the accompanying Condensed Consolidated Balance Sheets and Condensed Consolidated Statement of Stockholders’ Equity and the paid portion is reported in “Distributions paid to non-controlling unitholders” in the accompanying Condensed Consolidated Statements of Cash Flows. Upon completion of its tax returns with respect to the prior year, RMCO may make other discretionary true-up distributions to its members, if cash is available for such purposes, with respect to actual taxable income for the prior year. Other Discretionary Distributions Discretionary cash distributions may also be made to non-controlling unitholders based on their ownership percentage in RMCO as determined in accordance with the RMCO, LLC Agreement. The Company expects that future cash distributions will be made to non-controlling unitholders pro-rata on a quarterly basis equal to the dividend payments to the stockholders of the Company’s Class A common stock, or otherwise on a discretionary basis as determined to be necessary or appropriate by the Company. During the three months ended March 31, 2016, the Company made other distributions to non-controlling unitholders of $1,884,000 , which is recorded in “Non-controlling interest” in the accompanying Condensed Consolidated Balance Sheets and Condensed Consolidated Statement of Stockholders’ Equity and reported in “Distributions paid to non-controlling unitholders” in the accompanying Condensed Consolidated Statements of Cash Flows. On May 5, 2016 , the Company declared a distribution to non-controlling unitholders of $1,884,000 , which is payable on June 2, 2016 . No other distributions were paid to non-controlling unitholders during the three months ended March 31, 2016 and 2015. Payments Pursuant to the Tax Receivable Agreements At the time of the IPO, RE/MAX Holdings entered into separate TRAs with RMCO’s historical owners, RIHI and Weston Presidio V., L.P. (“Weston Presidio”). During the second quarter of 2015, Weston Presidio assigned, transferred and conveyed to Oberndorf all of its rights, title and interest in and to, and all of its liabilities and obligations under, the TRA dated as of October 7, 2013 by and between RE/MAX Holdings and Weston Presidio. In connection therewith, the Company entered into a joinder to the TRA on May 29, 2015 with Western Presidio and Oberndorf (the “Joinder Agreement”). Neither the assignment and transfer nor the Joinder Agreement impacted the financial position, results of operations or cash flows of the Company. As of March 31, 2016, the Company reflected a liability of $98,705,000 , representing the payments due to RIHI and Oberndorf, under the terms of the TRAs (see current and non-current portion of “Payable pursuant to tax receivable agreements” in the accompanying Condensed Consolidated Balance Sheets). As of March 31, 2016, the Company estimates that amounts payable pursuant to the TRAs within the next 12-month period will be approximately $7,148,000, of which $ 2,570,000 is related to RE/MAX Holdings’ 2014 federal and state tax returns and the remainder is related to RE/MAX Holdings’ 2015 federal and state tax returns. To determine the current amount of the payments due to RIHI and Oberndorf, the Company estimated the amount of taxable income that RE/MAX Holdings generated during 2015 and 2014 and the amount of the specified deductions subject to the TRAs which were realized by RE/MAX Holdings in its 2015 and 2014 federal and state tax returns. This amount was then used as a basis for determining the Company’s increase in estimated tax cash savings as a result of such deductions on which a current TRA obligation became due (i.e. payable within 12 months of the Company’s year-end). These calculations are performed pursuant to the terms of the TRAs. The Company paid $1,344,000 and $0 pursuant to the terms of the TRAs during the three months ended March 31, 2016 and 2015, respectively. The timing and amount of the payments to be made under the TRAs are subject to certain contingencies, including RE/MAX Holdings having sufficient taxable income to utilize all of the tax benefits defined in the TRAs. If the Company elects to terminate the TRAs early, the Company would be required to make an immediate cash payment equal to the present value of the anticipated future tax benefits that are the subject of the TRAs, which payment may be made significantly in advance of the actual realization, if any, of such future tax benefits. Obligations pursuant to the TRAs are obligations of RE/MAX Holdings. They do not impact the non-controlling interest. These obligations are not income tax obligations and have no impact on the “Provision for income taxes” in the accompanying Condensed Consolidated Statements of Income. In general, items of income, gain, loss and deduction are allocated on the basis of the members’ ownership interests pursuant to the RMCO, LLC Agreement after taking into consideration all relevant sections of the Internal Revenue Code.

Earnings Per Share and Dividend

Earnings Per Share and Dividends	3 Months Ended
	Mar. 31, 2016
Earnings Per Share and Dividends
Earnings Per Share and Dividends	4. Earnings Per Share and Dividends Earnings Per Share Basic earnings per share (“EPS”) measures the performance of an entity over the reporting period. Diluted EPS measures the performance of an entity over the reporting period while giving effect to all potentially dilutive common shares that were outstanding during the period. The treasury stock method is used to determine the dilutive potential of stock options and restricted stock units. The following is a reconciliation of the numerator and denominator used in the basic and diluted EPS calculations (in thousands, except share and per share information): The following is a reconciliation of the numerator and denominator used in the basic and diluted EPS calculations (in thousands, except share and per share information): Three Months Ended March 31, 2016 2015 Numerator Net income attributable to RE/MAX Holdings, Inc. $ $ Denominator for basic net income per share of Class A common stock Weighted average shares of Class A common stock outstanding Denominator for diluted net income per share of Class A common stock Weighted average shares of Class A common stock outstanding Add dilutive effect of the following: Stock options Restricted stock units Weighted average shares of Class A common stock outstanding, diluted Earnings per share of Class A common stock Net income attributable to RE/MAX Holdings, Inc. per share of Class A common stock, basic $ $ Net income attributable to RE/MAX Holdings, Inc. per share of Class A common stock, diluted $ $ The one share of Class B common stock outstanding does not share in the earnings of RE/MAX Holdings and is therefore not a participating security. Accordingly, basic and diluted net income per share of Class B common stock has not been presented. Dividends During the three months ended March 31, 2016, the Company’s Board of Directors declared a quarterly dividend of $0.15 per share on all outstanding shares of Class A common stock, or $2,638,000 in total dividends, which along with a corresponding distribution to non-controlling unitholders of $1,884,000 , was paid on March 23, 2016. During the three months ended March 31, 2015, the Company’s Board of Directors declared a quarterly dividend of $0.125 per share on all outstanding shares of Class A common stock, or $1,500,000 in total dividends, which along with a corresponding distribution to non-controlling unitholders of $2,217,000 , was paid on April 8, 2015. Additionally, during the three months ended March 31, 2015, the Company’s Board of Directors declared a special dividend of $ 1.50 per share on all outstanding shares of Class A common stock, or $17,883,000 in total dividends, which along with a corresponding distribution to non-controlling unitholders of $26,602,000 , was paid on April 8, 2015. On May 5, 2016 , the Company’s Board of Directors declared a quarterly dividend of $0.15 per share on all outstanding shares of Class A com mon stock, which is payable on June 2, 2016 to shareholders of reco rd at the close of business on May 19, 2016 .

Acquisitions and Dispositions

Acquisitions and Dispositions	3 Months Ended
	Mar. 31, 2016
Acquisitions and Dispositions [Abstract]
Acquisitions and Dispositions	5. Acquisitions and Dispositions Acquisitions Acquisition of RE/MAX of New York, Inc. On February 22, 2016, RE/MAX, LLC acquired certain assets of RE/MAX of New York, Inc. (“RE/MAX of New York”), including the regional franchise agreements issued by the Company permitting the sale of RE/MAX franchises in the state of New York. RE/MAX, LLC acquired these assets in order to expand its owned and operated regional franchising operations. The Company used $8,500,000 in cash generated from operations to fund the acquisition. The assets acquired constitute a business and were accounted for using the fair value acquisition method. The total purchase price was allocated to the assets acquired based on their estimated fair values. The excess of the total purchase price over the preliminary fair value of the identifiable assets acquired was recorded as goodwill. The goodwill recognized for RE/MAX of New York is attributable to expected synergies and projected long term revenue growth. All of the goodwill recognized is tax deductible. Purchase Price Allocation The following table summarizes the preliminary estimated fair value of the assets acquired at the acquisition date (in thousands): Cash and cash equivalents $ Franchise agreements Other assets Goodwill Total purchase price $ The regional franchise agreements acquired were preliminarily valued using an income approach and are being amortized over the remaining contractual term of approximately eleven years using the straight-line method. The preliminary estimated fair value of the assets acquired is subject to adjustments based on the Company’s final assessment of the fair values of the franchise agreements and other assets, which are the acquired assets with the highest likelihood of changing upon finalization of the valuation process. Unaudited Pro Forma Financial Information The following unaudited pro forma financial information reflects the consolidated results of operations of the Company as if the acquisition of RE/MAX of New York had occurred on January 1, 2015. The historical financial information has been adjusted to give effect to events that are (1) directly attributed to the acquisition, (2) factually supportable and (3) expected to have a continuing impact on the combined results, including additional amortization expense associated with the valuation of the acquired franchise agreement. This unaudited pro forma information should not be relied upon as necessarily being indicative of the historical results that would have been obtained if the acquisition had actually occurred on that date, nor of the results that may be obtained in the future. Three Months Ended March 31, 2016 2015 (In thousands, except per share amounts) Total revenue $ $ Net income attributable to RE/MAX Holdings, Inc. $ $ Basic earnings per common share $ $ Diluted earnings per common share $ $ Dispositions Disposition of STC Northwest, LLC d/b/a RE/MAX Northwest Realtors On January 20, 2016, the Company sold certain operating assets and liabilities related to three owned brokerage offices located in the U.S., of STC Northwest, LLC d/b/a RE/MAX Northwest Realtors, a wholly owned subsidiary of the Company. The Company recognized a loss on the sale of the assets and the liabilities transferred of approximately $90,000 during the first quarter of 2016, which is reflected in “Loss on sale or disposition of assets, net” in the accompanying Condensed Consolidated Statements of Income. In connection with this sale, the Company transferred separate office franchise agreements to the purchaser, under which the Company will receive ongoing monthly continuing franchise fees, broker fees and franchise sales revenue. Disposition of Sacajawea, LLC d/b/a RE/MAX Equity Group On December 31, 2015, the Company sold certain operating assets and liabilities related to 12 owned brokerage offices located in the U.S., of Sacajawea, LLC d/b/a RE/MAX Equity Group, a wholly owned subsidiary of the Company. The Company recognized a gain on the sale of the assets of approximately $2,794,000 during the fourth quarter of 2015, which is reflected in “(Gain) loss on sale or disposition of assets, net” in the Consolidated Statements of Income included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. In connection with this sale, the Company transferred separate office franchise agreements to the purchaser, under which the Company will receive ongoing monthly continuing franchise fees, broker fees and franchise sales revenue. Disposition of RB2B, LLC d/b/a RE/MAX 100 On April 10, 2015, the Company sold certain operating assets and liabilities related to six owned brokerage offices located in the U.S., of RB2B, LLC d/b/a RE/MAX 100, a wholly owned subsidiary of the Company. The Company recognized a gain on the sale of the assets and the liabilities transferred of $615,000 during the second quarter of 2015, which is reflected in “(Gain) loss on sale or disposition of assets, net” in the Consolidated Statements of Income included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 . In connection with this sale, the Company transferred separate office franchise agreements to the purchaser, under which the Company will receive ongoing monthly continuing franchise fees, broker fees and franchise sales revenue. Subsequent Events Acquisition of RE/MAX of Alaska, Inc. On April 1, 2016, RE/MAX, LLC acquired certain assets of RE/MAX of Alaska, Inc. (“RE/MAX of Alaska”), including the regional franchise agreements issued by the Company permitting the sale of RE/MAX franchises in the state of Alaska. RE/MAX, LLC acquired these assets in order to expand its owned and operated regional franchising operations. The Company used $1,500,000 in cash generated from operations to fund the acquisition. The assets acquired constitute a business that will be accounted for using the fair value acquisition method. The total purchase price will be allocated to the assets acquired and liabilities assumed based on their estimated fair values. Due to the timing of this acquisition, the Company has not completed a preliminary purchase price allocation.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Mar. 31, 2016
Intangible Assets and Goodwill
Intangible Assets and Goodwill	6. Intangible Assets and Goodwill The following table provides the components of the Company’s intangible assets, other than goodwill (in thousands, except weighted average amortization period in years): Weighted Average As of March 31, 2016 As of December 31, 2015 Amortization Initial Accumulated Net Initial Accumulated Net Period Cost Amortization Balance Cost Amortization Balance Franchise agreements $ $ $ $ $ $ Other intangible assets: Software (a) $ $ $ $ $ $ Trademarks Total other intangible assets $ $ $ $ $ $ (a) As of March 31, 2016 and December 31, 2015, capitalized software development costs of $ 3,856,000 and $ 3,165,000 , respectively, were recorded in “Other intangible assets” in the accompanying Condensed Consolidated Balance Sheets. As of these dates, the associated information technology infrastructure projects were not complete and ready for their intended use and thus were not subject to amortization. Amortization expense for the three months ended March 31, 2016 and 2015 was $ 3,514,000 and $3,549,000 , respectively. The estimated future amortization of intangible assets, other than goodwill is as follows (in thousands): As of March 31: Remainder of 2016 $ 2017 2018 2019 2020 Thereafter $ During 2015, the Company performed its annual assessment of goodwill, and the fair values of the Company’s reporting units significantly exceeded their respective carrying values. No interim indicators of impairment have been identified. The following table presents changes to goodwill for the three months ended March 31, 2016 (in thousands): Balance, January 1, 2016 $ Goodwill recognized in acquisition Effect of changes in foreign currency exchange rates Balance, March 31, 2016 $

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Mar. 31, 2016
Accrued Liabilities
Accrued Liabilities	7. Accrued Liabilities Accrued liabilities consist of the following (in thousands): March 31, December 31, 2016 2015 Accrued payroll and related employee costs (a) $ $ Accrued property taxes Accrued professional fees Lease-related accruals Other (b) $ $ (a) Accrued payroll and related employee costs include $1,602,000 and $1,009,000 of accrued severance and benefits expenses as of March 31, 2016 and December 31, 2015, respectively, related to the separation of the Company’s former Chief Financial Officer and Chief Operating Officer on March 31, 2016, former President on August 19, 2015 and former Chief Executive Officer on December 31, 2014, as discussed in Note 11, Leadership Changes and Restructuring Activities . (b) Other accrued liabilities include $3,251,000 as of December 31, 2015 in connection with the December 28, 2015 judgment resulting from the litigation matter concerning the Company’s acquisition of the net assets of HBN, which was paid on February 2, 2016, as discussed in Note 12, Commitments and Contingencies.

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt
Debt	8. Debt Debt consists of the following (in thousands): March 31, December 31, 2016 2015 2013 Senior Secured Credit Facility, principal of $487 payable quarterly, matures in July 2020 $ $ Less unamortized debt issuance costs Less unamortized debt discount Less current portion $ $ Maturities of debt are as follows (in thousands): As of March 31: Remainder of 2016 $ 2017 2018 2019 2020 $ On July 31, 2013, the Company entered into a new credit agreement with several lenders and administered by a bank, referred to herein as the “2013 Senior Secured Credit Facility.” The 2013 Senior Secured Credit Facility consists of a $230,000,000 term loan facility and a $10,000,000 revolving loan facility. The proceeds provided by the term loan facility were used to refinance and repay existing indebtedness and for working capital, capital expenditures and general corporate purposes. On March 11, 2015, the 2013 Senior Secured Credit Facility was amended, providing for an increase to the maximum applicable margin for both London Interbank Offered Rate (“LIBOR”) and Alternate Base Rate (“ABR”) loans by 0.25% , and a modification of certain liquidity covenants in order to increase the amounts the Company may distribute in the form of dividends to its non-controlling unitholders and stockholders of its Class A common stock, referred to herein as the “First Amendment.” Interest rates with respect to the amended term loan facility and revolving loan facility are based, at the Company’s option, on (a) adjusted LIBOR, provided that LIBOR shall be no less than 1% plus a maximum applicable margin of 3.25% or (b) ABR, provided that ABR shall be no less than 2% , which is equal to the greater of (1) JPMorgan Chase Bank, N.A.’s prime rate; (2) the Federal Funds Effective Rate plus 0.5% or (3) calculated Eurodollar Rate for a one month interest period plus 1% , plus a maximum applicable margin of 2.25% . The applicable margin is subject to quarterly adjustments based on the Company’s total leverage ratio as defined in the 2013 Senior Secured Credit Facility. In connection with the First Amendment, the Company incurred costs of $1,086,000 during the three months ended March 31, 2015, of which $555,000 was recorded as an unamortized debt discount and are being amortized over the remaining term of the 2013 Senior Secured Credit Facility and the remaining $531,000 was expensed as incurred. The Company is required to make principal payments out of excess cash flow, as defined in the 2013 Senior Secured Credit Facility, as well as from the proceeds of certain asset sales, proceeds from the issuance of indebtedness and from insurance recoveries. The Company made an excess cash flow prepayment of $12,727,000 on March 31, 2016. As of March 31, 2016, mandatory principal payments of approximately $487,000 are due quarterly until the facility matures on July 31, 2020 and will be reduced pro-rata by the amount of any excess cash flow principal prepayments made. During the three months ended March 31, 2015, the Company made an excess cash flow prepayment of $7,320,000 . The Company accounted for the mandatory principal excess cash flow prepayments as early extinguishments of debt and recorded a loss of $136,000 and $94,000 during the three months ended March 31, 2016 and 2015, respectively, related to unamortized debt discount and issuance costs. The Company may make optional prepayments on the term loan facility at any time; however, no such optional prepayments were made during the three months ended March 31, 2016 or 2015. The estimated fair value of the Company’s debt as of March 31, 2016 and December 31, 2015 represents the amount that would be paid to transfer or redeem the debt in an orderly transaction between market participants at those dates and maximizes the use of observable inputs. The fair value of the Company’s debt was estimated using a market approach based on the amount at the measurement date that the Company would pay to enter into the identical liability, since quoted prices for the Company’s debt instruments are not available. As a result, the Company has classified the fair value of the 2013 Senior Secured Credit Facility as Level 2 of the fair value hierarchy. The carrying amounts of the 2013 Senior Secured Credit Facility are included in the accompanying Condensed Consolidated Balance Sheets in “Current portion of debt” and “Debt, net of current portion.” The following table summarizes the carrying value and fair value of the 2013 Senior Secured Credit Facility as of March 31, 2016 and December 31, 2015 (in thousands): March 31, December 31, 2016 2015 Carrying Amounts Estimated Fair Value Carrying Amounts Estimated Fair Value 2013 Senior Secured Credit Facility $ $ $ $ The Company had no borrowings drawn on the revolving loan facility during the three months ended March 31, 2016 or 2015 and had $10,000,000 available under the revolving loan facility as of March 31, 2016. The Company must pay a quarterly commitment fee equal to 0.5% on the average daily amount of the unused portion of the revolving loan facility.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Taxes
Income Taxes	9. Income Taxes RE/MAX Holdings is subject to U.S. federal and state income taxation on its allocable portion of the income of RMCO. The “Provision for income taxes” in the accompanying Condensed Consolidated Statements of Income for the three months ended March 31, 2016 and 2015 is based on an estimate of the Company’s annualized effective income tax rate. The Company’s effective tax rate includes a rate benefit attributable to the fact that the Company’s subsidiaries operate as a series of limited liability companies which are not themselves subject to federal income tax. Accordingly, the portion of the Company’s subsidiaries earnings attributable to the non-controlling interest are subject to tax when reported as a component of the non-controlling interests’ taxable income. The “Provision for income taxes” is comprised of a provision for income taxes attributable to RE/MAX Holdings and to entities other than RE/MAX Holdings. The provision for income taxes attributable to RE/MAX Holdings includes all U.S. federal and state income taxes and RE/MAX Holdings’ proportionate share of RMCO’s net income. The provision for income taxes attributable to entities other than RE/MAX Holdings represents taxes imposed directly on RE/MAX, LLC related to tax liabilities in certain foreign jurisdictions that are allocated to the non-controlling interest. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. As of March 31, 2016, the Company does not believe it has any significant uncertain tax positions. The Company and its subsidiaries file, or will file, income tax returns in the U.S. federal jurisdiction and various states and foreign jurisdictions. RMCO is not subject to federal income taxes as it is a flow-through entity, however, RMCO is still required to file an annual U.S. Return of Partnership Income. The Company was notified on January 6, 2016 that RMCO’s 2013 U.S. Return of Partnership Income was selected for examination by the Internal Revenue Service and the audit commenced in April 2016. With respect to state and local jurisdictions and countries outside of the U.S., the Company and its subsidiaries are typically subject to examination for three to four years after the income tax returns have been filed.

Equity-Based Compensation

Equity-Based Compensation	3 Months Ended
	Mar. 31, 2016
Equity-Based Compensation
Equity-Based Compensation	10. Equity-Based Compensation On September 30, 2013, the Company’s Board of Directors adopted the RE/MAX Holdings, Inc. 2013 Omnibus Incentive Plan (the “2013 Incentive Plan”) that provides for the grant of incentive stock options to the Company’s employees, and for the grant of shares of RE/MAX Holdings’ Class A common stock, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalent rights, cash-based awards and any combination thereof to employees, directors and consultants of the Company. On February 23, 2016, RE/MAX Holdings granted an aggregate of 7 5,057 restricted stock units at a value of $33.18 per unit to certain employees, which vest in three equal installments, on March 1, 2017, March 1, 2018 and March 1, 2019, and an aggregate of 1 2,663 restricted stock units at a value of $33.18 per unit to its directors, excluding David Liniger, the Company’s Chief Executive Officer, Chairman and Co-Founder, and Gail Liniger, the Company’s Vice Chair and Co-Founder, which vest on March 1, 2017. The grant-date fair value of $33.18 per unit equaled the closing price of RE/MAX Holdings’ Class A common stock on February 23, 2016. On March 11, 2015, RE/MAX Holdings granted an aggregate of 74,893 restricted stock units at a value of $32.45 per unit to certain employees, which vest in three equal installments, on April 1, 2016, April 1, 2017 and April 1, 2018, and an aggregate of 10,787 restricted stock units at a value of $32.45 per unit to its directors, excluding David Liniger, the Company’s Chief Executive Officer, Chairman and Co-Founder, and Gail Liniger, the Company’s Vice Chair and Co-Founder, which vest on April 1, 2016. The grant-date fair value of $32.45 per unit equaled the closing price of RE/MAX Holdings’ Class A common stock on March 11, 2015. For the three months ended March 31, 2016 and 2015, the Company recognized equity-based compensation expense of $766,000 and $142,000 , respectively, in “Selling, operating and administrative expenses” in the accompanying Condensed Consolidated Statements of Income resulting from the aforementioned restricted stock units granted. The following table summarizes equity-based compensation activity related to restricted stock units and stock options as of and for the three months ended March 31, 2016: Restricted Stock Stock Units Options Balance, January 1, 2016 Granted — Exercised — — Forfeited — — Cancelled — — Balance, March 31, 2016 As of March 31, 2016 Vested — Unvested — At March 31, 2016, there were 2,151,182 additional shares available for the Company to grant under the 2013 Incentive Plan.

Leadership Changes and Restruct

Leadership Changes and Restructuring Activities	3 Months Ended
	Mar. 31, 2016
Leadership Changes and Restructuring Activities
Leadership Changes and Restructuring Activities	11. Leadership Changes and Restructuring Activities On January 7, 2016, the Company’s former Chief Financial Officer and Chief Operating Officer entered into a separation and transition agreement (the “Separation and Transition Agreement”) pursuant to which he served as Co-Chief Financial Officer from January 15, 2016 through March 31, 2016 and separated from the Company effective March 31, 2016. Subject to the terms of the Separation and Transition Agreement, the Company is required to provide severance and other related benefits through April 2016. In April 2016, the Company made a lump sum severance payment of $575,000 a nd 12,109 unvested restricted stock units vested on an accelerated timeline pursuant to the terms of the Separation and Transition Agreement. The Company recorded a liability, measured at its estimated fair value, for payments that will be made under the Separation and Transition Agreement, with a corresponding charge to “Selling, operating and administrative expenses” in the accompanying Condensed Consolidated Statements of Income. The Company incurred a total cost of $1,043,000 , including $331,000 of equity-based compensation expense, during the three months ended March 31, 2016 related to this separation. As of March 31, 2016, the short-term portion of the liability was $583,000 and is included in “Accrued liabilities” in the accompanying Condensed Consolidated Balance Sheets. On May 4, 2015, the Company’s former President entered into a retirement agreement with the Company (the “Retirement Agreement”) pursuant to which he retired on August 19, 2015. Subject to the terms of the Retirement Agreement, the Company is required to provide retirement benefits over a 24 -month period, beginning in September 2015. The Company recorded a liability, measured at its estimated fair value, for payments that will be made under the Retirement Agreement, with a corresponding charge to “Selling, operating and administrative expenses.” The Company incurred a total cost of $877,000 , including $216,000 of equity-based compensation expense, during year ended December 31, 2015 related to this retirement. As of March 31, 2016 and December 31, 2015, the short-term portion of the liability was $253,000 and $250,000 , respectively, and is included in “Accrued liabilities” in the accompanying Condensed Consolidated Balance Sheets. As of March 31, 2016 and December 31, 2015, the long-term portion of the liability was $109,000 and $175,000 , respectively, and is included in “Other liabilities, net of current portion” in the accompanying Condensed Consolidated Balance Sheets. On December 31, 2014, the Company’s former Chief Executive Officer retired and pursuant to the terms of the Separation and Release of Claims Agreement (the “Separation Agreement”), the Company is required to provide severance and other related benefits over a 36 -month period, beginning in October 2015. The Company recorded a liability, measured at its estimated fair value, for payments that will be made under the Separation Agreement, with a corresponding charge to “Selling, general and administrative expenses.” The Company will incur a total cost of $3,581,000 , including $1,007,000 of equity-based compensation expense. As of March 31, 2016 and December 31, 2015, the short-term portion of the liability was $ 766,000 and $759,000 , respectively, and is included in “Accrued liabilities” in the accompanying Condensed Consolidated Balance Sheets. As of March 31, 2016 and December 31, 2015, the long-term portion of the liability was $589,000 and $789,000 , respectively, and is included in “Other liabilities, net of current portion” in the accompanying Condensed Consolidated Balance Sheets. The Company’s total severance and other related expenses were $ 1,043,000 and $ 451,000 for the three months ended March 31, 2016 and 2015, respectively, which is included in “Selling, operating and administrative expenses” in the accompanying Condensed Consolidated Statements of Income. The following table presents a rollforward of the estimated fair value liability established for the aforementioned severance and other related costs from January 1, 2016 to March 31, 2016 (in thousands): Balance, January 1, 2016 $ Severance and other related expenses Accretion Cash payments Non-cash adjustment (a) Balance, March 31, 2016 $ (a) For the three months ended March 31, 2016, the non-cash adjustment represents the non-cash equity-based compensation expense recorded for the accelerated vesting of 12,109 restricted stock units on April 9, 2016 pursuant to the terms of the Separation and Transition Agreement.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments And Contingencies Disclosure
Commitments and Contingencies	12. Commitments and Contingencies Commitments The Company leases offices and equipment under non-cancelable operating leases, subject to certain provisions for renewal options and escalation clauses. Contingencies In connection with the sale of the assets and liabilities related to the Company’s previously-owned brokerages as described in Note 5, Acquisitions and Dispositions , the Company entered into three Assignment and Assumption of Lease Agreements (the “Assignment Agreements”) pursuant to which the Company assigned its obligations under and rights, title and interest in 21 leases to the respective purchasers. For certain leases, the Company remains secondarily liable for future lease payments over approximately the next 64 -month period under the respective lease agreements and accordingly, as of March 31, 2016, the Company has outstanding lease guarantees of $ 8,522,000 . This amount represents the maximum potential amount of future payments under the respective lease guarantees. In the event of default by the purchaser, the indemnity and default clauses in the Assignment Agreements govern the Company’s ability to pursue and recover damages incurred, if any, against the purchaser. As of March 31, 2016, the likelihood of default by the purchaser on one of the Assignment Agreements was deemed to be reasonably possible and as such, the Company recognized a loss of $243,000 in “Loss on sale or disposition of assets, net” in the accompanying Condensed Consolidated Statements of Income during the three months ended March 31, 2016. As of March 31, 2016, the short-term portion of the liability was $47,000 and is included in “Accrued liabilities” in the accompanying Condensed Consolidated Balance Sheets and the long-term portion of the liability was $188,000 and is included in “Other liabilities, net of current portion” in the accompanying Condensed Consolidated Balance Sheets. Litigation The Company is subject to litigation claims arising in the ordinary course of business. The Company believes that it has adequately accrued for legal matters as appropriate. The Company records litigation accruals for legal matters which are both probable and estimable and for related legal costs as incurred. The Company does not reduce these liabilities for potential insurance or third-party recoveries and any insurance recoveries are recorded in “Accounts and notes receivable, current portion” in the accompanying Condensed Consolidated Balance Sheets with a corresponding reduction to “Selling, operating and administrative expenses” in the accompanying Condensed Consolidated Statements of Income. In connection with the IPO effective October 7, 2013, RE/MAX Holdings acquired the net assets, excluding cash, of HBN and Tails for consideration paid of $7,130,000 and $20,175,000 , respectively. Regarding the acquisition of the net assets of HBN , several shareholders of HBN (the “Defendants”) dissented from the transaction and demanded payment for their shares in excess of consideration paid. Pursuant to the dissenters’ rights statute in the State of Colorado, HBN petitioned the District Court of Denver County, Colorado (the “Court”) to determine the fair value of HBN. The Court rendered a decision on December 28, 2015 and concluded that the fair value of HBN on October 7, 2013 was higher than the amount paid. Accordingly, the Court awarded the Defendants $3,153,000 , which represents the amount of the Defendants’ share of HBN’s fair value as determined by the Court in excess of the consideration paid, as well as accrued interest from October 7, 2013 through the date of judgment. In addition, the Court’s decision provides for the payment of certain costs incurred in connection with the litigation and additional interest from the judgment date until the payment date. As a result of this conclusion, the Company recorded an accrual of $3,251,000 as of December 31, 2015, which was paid on February 2, 2016. In connection with the Company’s acquisition of the net assets of Tails, several shareholders of Tails challenged the terms of the transaction and filed a shareholder action entitled Robert B. Fisher, Carla L. Fisher, Bradley G. Rhodes and James D. Schwartz v. Tails, Inc. in the Circuit Court of Henrico County, Virginia ("Tails I"). The Court dismissed Tails I on December 23, 2013. The shareholders appealed that decision. On January 8, 2015, the Virginia Supreme Court affirmed the lower court's dismissal of Tails I. On March 7, 2016, the same shareholders filed a shareholder derivative complaint and complaint for individual claims entitled Robert B. Fisher, Carla L. Fisher, Bradley G. Rhodes and James D. Schwartz v. Gail Liniger, Dave Liniger, Bruce Benham, RE/MAX Holdings, Inc. and Tails Holdco, Inc. in Denver District Court ("Tails II"). The Tails II defendants intend to vigorously defend their positions that the final judgment in the Tails I action bars the Tails II action and that the consideration paid for the net assets of Tails was the fair value. The Company believes a range for the potential impact to its financial position and results of operation is not determinable as of March 31, 2016. Accordingly, the Company currently has not recorded an accrual in the accompanying Condensed Consolidated Balance Sheets. Except for the ongoing litigation concerning the acquisition of the net assets of Tails, management of the Company believes other such litigation matters involving a reasonably possible chance of loss will not, individually or in the aggregate, result in a material adverse effect on the Company's financial condition, results of operations and cash flows.

Related-Party Transactions

Related-Party Transactions	3 Months Ended
	Mar. 31, 2016
Related Party Transactions
Related-Party Transactions	13. Related-Party Transactions The Company’s previously-owned real estate brokerage operations paid advertising fees to regional and national advertising funds, which promote the RE/MAX brand. These advertising funds are corporations owned by a majority stockholder of RIHI, who is also the Company’s Chief Executive Officer, Chairman and Co-Founder, as trustee for RE/MAX agents. This individual does not receive any compensation from these corporations, as all funds received by the corporations are required to be spent on advertising for the respective regions. During the three months ended March 31, 2016 and 2015, the Company’s previously-owned real es tate brokerage operations paid $ 11,000 and $282,000 , respectively, to these advertising funds. These payments are included in “Selling, operating and administrative expenses” in the accompanying Condensed Consolidated Statements of Income. The majority stockholders of RIHI, including the Company’s current Chief Executive Officer, Chairman and Co-Founder have made and continue to make a golf course they own available to the Company for business purposes. During the three months ended March 31, 2016 and 2015, the Company used the golf course for business purposes at no charge. The Company provides services, such as accounting, legal, marketing, technology, human resources and public relations services, to certain affiliated entities, and it allows these companies to share its leased office space. During the three months ended March 31, 2016 and 2015, the total amounts allocated for services rendered and rent for office space provided on beha lf of affiliated entities were $ 431,000 and $416,000 , respectively. Such amounts are generally paid within 30 days and no such amounts were outstanding at March 31, 2016 or December 31, 2015. In addition, affiliated regional franchisors have current outstanding continuing franchise fees, broker fees and franchise sales revenue amounts due from the Company of $130,000 and $66,000 as of March 31, 2016 and December 31, 2015, respectively. Such amounts are included in “Accounts payable to affiliates” in the accompanying Condensed Consolidated Balance Sheets.

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements are unaudited and comprise the condensed consolidated financial statements of the Company and have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and with Article 10 of Regulation S-X. In compliance with those instructions, certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The accompanying condensed consolidated financial statements are presented on a consolidated basis and include the accounts of RE/MAX Holdings and its consolidated subsidiaries. All significant intercompany accounts and transactions have been eliminated. In the opinion of management, the accompanying condensed consolidated financial statements reflect all normal and recurring adjustments necessary to present fairly the Company’s financial position as of March 31, 2016 and December 31, 2015, the results of its operations and comprehensive income for the three months ended March 31, 2016 and 2015, changes in its stockholders’ equity for the three months ended March 31, 2016 and results of its cash flows for the three months ended March 31, 2016 and 2015. Interim results may not be indicative of full year performance. These condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements within the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant areas in which management uses assumptions include, among other things, the establishment of the allowance for doubtful trade accounts and notes receivable, the determination of the estimated lives of intangible assets, the estimates for amounts accrued for litigation matters, the estimates of the fair value of reporting units used in the annual assessment of goodwill, the fair value of assets acquired and the amounts due to RIHI and Oberndorf Investments LLC (“Oberndorf”) pursuant to the terms of the tax receivable agreements (“TRAs”) discussed in more detail in Note 3, Non-controlling Interest . Actual results could differ from those estimates.
Reclassifications	Reclassifications Certain items in the accompanying condensed consolidated financial statements as of December 31, 2015 and for the three months ended March 31, 2015 have been reclassified to conform to the 2016 presentation.
Segment Reporting	Segment Reporting Prior to 2016, the Company operated in two reportable segments, (1) Real Estate Franchise Services and (2) Brokerages. The Real Estate Franchise Services reportable segment comprised the operations of the Company’s owned and independent global franchising operations under the RE/MAX brand name, intersegment revenue from the Company’s previously-owned brokerages and corporate-wide professional services expenses. The Brokerages reportable segment contained the operations of the Company’s previously-owned brokerage offices in the U.S., the results of operations of a mortgage brokerage company in which the Company previously-owned a non-controlling interest and reflected the elimination of intersegment revenue and other consolidation entries. During 2015 and the first quarter of 2016, the Company sold its 21 previously-owned brokerage offices in the Washington, D.C., Portland, Oregon and Seattle, Washington metropolitan areas, as discussed in Note 5, Acquisitions and Dispositions . These dispositions resulted in the cessation of operations for the Company’s Brokerages reportable segment. Thus, during the first quarter of 2016, the Company began to operate in one reportable segment, Real Estate Franchise Services. All prior segment information has been reclassified to reflect the Company’s new segment structure.
Principles of Consolidation	Principles of Consolidation RE/MAX Holdings holds an approximate 60% economic interest in RMCO and, as its managing member, RE/MAX Holdings controls RMCO’s operations, management and activities. As a result, RE/MAX Holdings consolidates RMCO and records a non-controlling interest in the accompanying Condensed Consolidated Balance Sheets and records net income attributable to the non-controlling interest and comprehensive income attributable to the non-controlling interest in the accompanying Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Comprehensive Income, respectively.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Under the Jumpstart Our Business Startups Act (“JOBS Act”), the Company meets the definition of an emerging growth company. The Company has irrevocably elected to opt out of the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act. In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , which simplifies certain aspects of accounting for share-based payment transactions, including income tax consequences, statutory tax withholding requirements, forfeitures and classification in the statement of cash flows. ASU 2016-09 is effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2016. Early adoption is permitted in any interim or annual reporting period. The standard requires the guidance related to forfeitures and the timing of when excess tax benefits are recognized to be applied using a modified retrospective transition method, the guidance related to the accounting for income taxes to be applied prospectively, and the guidance related to the presentation of excess tax benefits on the statement of cash flows to be applied either prospectively or retrospectively. The Company early adopted ASU 2016-09 in the first quarter of 2016 and elected to account for forfeitures as they occur. As a result, the Company recorded a cumulative-effect adjustment of $44,000 to “Retained Earnings” in the accompanying Condensed Consolidated Balance Sheets and Statements of Stockholders’ Equity. Furthermore, the Company elected to apply the retrospective transition method to the amendments related to the presentation of excess tax benefits in the statements of cash flows. This resulted in an increase in cash flows provided by operating activities of $1,105,000 and a decrease of $1,105,000 in cash flows used in financing activities in the accompanying Condensed Consolidated Statements of Cash Flows for the period ended March 31, 2015. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires lessees to recognize the assets and liabilities that arise from all leases on the consolidated balance sheets. ASU 2016-02 is effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2018. Early adoption is permitted in any interim or annual reporting period. The standard requires a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. The Company has not yet determined the effect of the standard on its consolidated financial statements and related disclosures. In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes , which requires that deferred tax assets and liabilities be classified as non-current in a classified balance sheet. ASU 2015-17 is effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2016. The standard permits the use of either the retrospective or prospective transition method and permits early adoption as of the beginning of an interim or annual reporting period. The Company elected to early adopt this standard retrospectively in the first quarter of 2016 and the presentation of “Other current assets” and “Deferred tax assets, net” in the accompanying Condensed Consolidated Balance Sheets and related disclosures were impacted by $3,332,000 as of December 31, 2015, but the company’s consolidated results of operations were not affected. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting Measurement-Period Adjustments , which eliminates the requirement for an entity to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is completed. ASU 2015-16 became effective prospectively for the Company on January 1, 2016. The adoption of this standard did not have a significant impact on the Company’s consolidated financial statements and related disclosures. In June 2015, the FASB issued ASU 2015-10, Technical Corrections and Improvements , which both clarifies and simplifies content in the FASB Accounting Standards Codification and corrects unintended application of U.S. GAAP. ASU 2015-10 became effective for the Company on January 1, 2016. The adoption of this standard did not have a significant impact on the Company’s consolidated financial statements and related disclosures. In April 2015, the FASB issued ASU 2015-05, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement , which provides guidance on fees paid in a cloud computing arrangement and clarifies the accounting for a software license element of a cloud computing arrangement. ASU 2015-05 became effective prospectively for the Company on January 1, 2016. The adoption of this standard did not have a significant impact on the consolidated financial statements and related disclosures. In April 2015, the FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs , which requires an entity to present debt issuance costs related to a debt liability as a direct deduction from the debt liability rather than as an asset. ASU 2015-03 is effective retrospectively for the Company on January 1, 2016. The adoption of this standard impacted the presentation of “Debt, net of current portion” in the accompanying Condensed Consolidated Balance Sheets and related disclosures by $1,527,000 as of December 31, 2015, but did not affect the Company’s consolidated results of operations. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , which defers the effective date of the guidance in ASU 2014-09 by one year. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing , which provides clarification on identifying performance obligations and accounting for licenses of intellectual property. These standards are effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2017. Early application is permitted for annual reporting periods beginning after December 15, 2016, including interim reporting periods within such annual reporting periods. The standard permits the use of either the retrospective or cumulative effect transition method. The Company has not yet selected a transition method nor has it determined the effect of the standard on its consolidated financial statements and related disclosures. In April 2014, the FASB issued ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity . ASU 2014-08 limits discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have (or will have) a major effect on an entity’s operations and financial results. ASU 2014-08 also provides guidance on the financial statement presentation and disclosures of discontinued operations. ASU 2014-08 became effective prospectively for the Company on January 1, 2015 and none of the dispositions that occurred during 2015 and the first quarter of 2016 qualified as a discontinued operation. See Note 5, Acquisitions and Dispositions , for additional information.
Critical Accounting Judgments and Estimated	Critical Accounting Judgments and Estimates There have been no changes in the Company’s critical accounting judgments and estimates from those that were disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The Company believes that the disclosures herein are adequate so that the information presented is not misleading.

Non-controlling Interest (Table

Non-controlling Interest (Tables)	3 Months Ended
	Mar. 31, 2016
Noncontrolling Interest
Summary of Ownership of the Common Units	March 31, December 31, 2016 2015 Shares Ownership % Shares Ownership % Non-controlling unitholders ownership of common units in RMCO % % RE/MAX Holdings, Inc. outstanding Class A common stock (equal to RE/MAX Holdings, Inc. common units in RMCO) % % Total common units in RMCO % %
Summary of Reconciliation from Income Before Provision for Income Taxes to Net Income	The weighted average ownership percentages for the applicable reporting periods are used to calculate the net income attributable to RE/MAX Holdings. RE/MAX Holdings’ weighted average ow nership percentage in RMCO for the three months ended March 31, 2016 and 2015 was 58.33% and 39.99% , respectively. RE/MAX Holdings’ economic interest in RMCO increased due to the increase in common units from the issuance of shares of Class A common stock as a result of the Secondary Offering described in Note 1, Business and Organization. A reconciliation of “Net income attributable to RE/MAX Holdings, Inc.” in the accompanying Condensed Consolidated Statements of Income for the periods indicated is detailed as follows (in thousands): Three Months Ended March 31, 2016 2015 Income before provision for income taxes attributable to RE/MAX Holdings, Inc. $ $ Provision for income taxes attributable to RE/MAX Holdings, Inc. Net income attributable to RE/MAX Holdings, Inc. $ $
Summary of Reconciliation of Provision for Income Taxes	A reconciliation of the “Provision for income taxes” in the accompanying Condensed Consolidated Statements of Income for the periods indicated is detailed as follows (in thousands): Three Months Ended March 31, 2016 2015 Provision for income taxes attributable to RE/MAX Holdings, Inc. (a) $ $ Provision for income taxes attributable to entities other than RE/MAX Holdings, Inc. (b) Provision for income taxes $ $ (a) The provision for income taxes attributable to RE/MAX Holdings includes all U.S. federal and state income taxes as well as RE/MAX Holdings’ proportionate share of the net assets of RMCO of the taxes imposed directly on RE/MAX, LLC, a wholly-owned subsidiary of RMCO, related to tax liabilities in certain foreign jurisdictions of $335,000 and $262,000 for the three months ended March 31, 2016 and 2015, respectively. (b) The provision for income taxes attributable to entities other than RE/MAX Holdings represents taxes imposed directly on RE/MAX, LLC related to tax liabilities in certain foreign jurisdictions that are allocated to the non-controlling interest.

Earnings Per Share and Divide24

Earnings Per Share and Dividends (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share and Dividends
Reconciliation of Numerator and Denominator used in Basic and Diluted EPS Calculations	The following is a reconciliation of the numerator and denominator used in the basic and diluted EPS calculations (in thousands, except share and per share information): Three Months Ended March 31, 2016 2015 Numerator Net income attributable to RE/MAX Holdings, Inc. $ $ Denominator for basic net income per share of Class A common stock Weighted average shares of Class A common stock outstanding Denominator for diluted net income per share of Class A common stock Weighted average shares of Class A common stock outstanding Add dilutive effect of the following: Stock options Restricted stock units Weighted average shares of Class A common stock outstanding, diluted Earnings per share of Class A common stock Net income attributable to RE/MAX Holdings, Inc. per share of Class A common stock, basic $ $ Net income attributable to RE/MAX Holdings, Inc. per share of Class A common stock, diluted $ $

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables)	3 Months Ended
	Mar. 31, 2016
Acquisitions and Dispositions [Abstract]
Summary of Estimated Fair Value of Assets and Liabilities at Acquisition Date	The following table summarizes the preliminary estimated fair value of the assets acquired at the acquisition date (in thousands): Cash and cash equivalents $ Franchise agreements Other assets Goodwill Total purchase price $
Summary of Unaudited Pro Forma Information	Three Months Ended March 31, 2016 2015 (In thousands, except per share amounts) Total revenue $ $ Net income attributable to RE/MAX Holdings, Inc. $ $ Basic earnings per common share $ $ Diluted earnings per common share $ $

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Mar. 31, 2016
Intangible Assets and Goodwill
Schedule of components of intangible assets	The following table provides the components of the Company’s intangible assets, other than goodwill (in thousands, except weighted average amortization period in years): Weighted Average As of March 31, 2016 As of December 31, 2015 Amortization Initial Accumulated Net Initial Accumulated Net Period Cost Amortization Balance Cost Amortization Balance Franchise agreements $ $ $ $ $ $ Other intangible assets: Software (a) $ $ $ $ $ $ Trademarks Total other intangible assets $ $ $ $ $ $ (a) As of March 31, 2016 and December 31, 2015, capitalized software development costs of $ 3,856,000 and $ 3,165,000 , respectively, were recorded in “Other intangible assets” in the accompanying Condensed Consolidated Balance Sheets. As of these dates, the associated information technology infrastructure projects were not complete and ready for their intended use and thus were not subject to amortization.
Schedule of estimated future amortization of intangible assets, other than goodwill	The estimated future amortization of intangible assets, other than goodwill is as follows (in thousands): As of March 31: Remainder of 2016 $ 2017 2018 2019 2020 Thereafter $
Schedule of changes to goodwill	Balance, January 1, 2016 $ Goodwill recognized in acquisition Effect of changes in foreign currency exchange rates Balance, March 31, 2016 $

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Accrued Liabilities
Schedule of Accrued Liabilities	Accrued liabilities consist of the following (in thousands): March 31, December 31, 2016 2015 Accrued payroll and related employee costs (a) $ $ Accrued property taxes Accrued professional fees Lease-related accruals Other (b) $ $

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt
Schedule of debt	Debt consists of the following (in thousands): March 31, December 31, 2016 2015 2013 Senior Secured Credit Facility, principal of $487 payable quarterly, matures in July 2020 $ $ Less unamortized debt issuance costs Less unamortized debt discount Less current portion $ $
Schedule of Maturities of Debt	Maturities of debt are as follows (in thousands): As of March 31: Remainder of 2016 $ 2017 2018 2019 2020 $
Summary of carrying value and fair value of debt	The following table summarizes the carrying value and fair value of the 2013 Senior Secured Credit Facility as of March 31, 2016 and December 31, 2015 (in thousands): March 31, December 31, 2016 2015 Carrying Amounts Estimated Fair Value Carrying Amounts Estimated Fair Value 2013 Senior Secured Credit Facility $ $ $ $

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Equity-Based Compensation
Summary of Equity-Based Compensation Activity	Restricted Stock Stock Units Options Balance, January 1, 2016 Granted — Exercised — — Forfeited — — Cancelled — — Balance, March 31, 2016 As of March 31, 2016 Vested — Unvested —

Leadership Changes and Restru30

Leadership Changes and Restructuring Activities (Tables)	3 Months Ended
	Mar. 31, 2016
Leadership Changes and Restructuring Activities
Summary of Estimated Fair Value Liability Established for the Aforementioned Severance and Other Related Costs	The following table presents a rollforward of the estimated fair value liability established for the aforementioned severance and other related costs from January 1, 2016 to March 31, 2016 (in thousands): Balance, January 1, 2016 $ Severance and other related expenses Accretion Cash payments Non-cash adjustment (a) Balance, March 31, 2016 $ (a) For the three months ended March 31, 2016, the non-cash adjustment represents the non-cash equity-based compensation expense recorded for the accelerated vesting of 12,109 restricted stock units on April 9, 2016 pursuant to the terms of the Separation and Transition Agreement.

Business and Organization (Deta

Business and Organization (Detail)	Oct. 07, 2013$ / sharesshares	Dec. 31, 2015$ / sharesshares	Mar. 31, 2016
RMCO, LLC | RIHI
IPO of RE/Max and ownership of RMCO
Redemption of common membership units price per common stock (in units)		5,175,000
RMCO, LLC
IPO of RE/Max and ownership of RMCO
Minority economic interest in RMCO (as a percent)	39.56%		58.33%
Class A common stock
IPO of RE/Max and ownership of RMCO
Common stock at public offering price per share | $ / shares		$ 36
Class A common stock | RMCO, LLC
IPO of RE/Max and ownership of RMCO
Stock split, conversion ratio		1
Class A common stock | IPO
IPO of RE/Max and ownership of RMCO
Common stock issued at initial public offering	11,500,000
Common stock at public offering price per share | $ / shares	$ 22
Issuance of common stock (in shares)	11,500,000
Class A common stock | Secondary Offering | RIHI
IPO of RE/Max and ownership of RMCO
Common stock issued at initial public offering		5,175,000
Issuance of common stock (in shares)		5,175,000

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Details)	3 Months Ended	12 Months Ended	15 Months Ended
	Mar. 31, 2016segment	Dec. 31, 2015segment	Mar. 31, 2016facility	Oct. 07, 2013
Significant Accounting Policies [Line Items]
Number of reportable segments | segment	1	2
Number of brokerages having assets and liabilities sold | facility			21
RMCO, LLC
Significant Accounting Policies [Line Items]
Minority economic interest in RMCO (as a percent)	58.33%		58.33%	39.56%

Summary of Significant Accoun33

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Recent Accounting Pronouncements
Cumulative effect adjustment, retained earnings	$ 28,000
Cash flows provided by operating activities	12,478,000	$ 15,524,000
Cash flows used in financing activities	(17,796,000)	(7,594,000)
Other Assets Current	2,831,000		$ 4,079,000
Deferred Tax Assets, Net, Noncurrent	108,065,000		109,365,000
Long Term Debt Noncurrent	173,029,000		185,552,000
Accounting Standards Update ("ASU") 2015-03 - Simplifying the Presentation of Debt Issuance Costs | Scenario, Adjustment [Member]
Recent Accounting Pronouncements
Debt issuance costs, net			(1,527,000)
Long Term Debt Noncurrent			1,527,000
Retrospective early adoption | Accounting Standards Update ("ASU") 2016-09 - Compensation – Stock Compensation
Recent Accounting Pronouncements
Cumulative effect adjustment, retained earnings	$ 44,000
Cash flows provided by operating activities		1,105,000
Cash flows used in financing activities		$ (1,105,000)
Retrospective early adoption | Accounting Standards Update ("ASU") 2015-17 - Income Taxes: Balance Sheet Classification of Deferred Taxes
Recent Accounting Pronouncements
Other Assets Current			(3,332,000)
Deferred Tax Assets, Net, Noncurrent			$ 3,332,000

Non-controlling Interest - Narr

Non-controlling Interest - Narrative (Details) - USD ($)	May. 05, 2016	Mar. 23, 2016	Apr. 08, 2015	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Significant Accounting Policies [Line Items]
Distributions for taxes, non-controlling unitholders				$ 3,003,000	$ 2,076,000
Other distributions, non-controlling unitholders, paid				1,884,000
Other Distributions, non-controlling unitholders				0
Liability representing the payments due pursuant to tax receivable agreements				98,705,000
Current portion of payable pursuant to tax receivable agreements				7,148,000		$ 8,478,000
Amounts paid pursuant to Tax Receivable Agreements (TRAs)				1,344,000
Quarterly distribution
Significant Accounting Policies [Line Items]
Distributions declared to non-controlling unitholders		$ 1,884,000	$ 2,217,000
Quarterly distribution | Subsequent Event
Significant Accounting Policies [Line Items]
Distributions declared to non-controlling unitholders	$ 1,884,000
RIHI
Significant Accounting Policies [Line Items]
Amounts paid pursuant to Tax Receivable Agreements (TRAs)					$ 0
RIHI | 2014 Tax Returns
Significant Accounting Policies [Line Items]
Current portion of payable pursuant to tax receivable agreements				$ 2,570,000
RMCO, LLC
Significant Accounting Policies [Line Items]
Minority economic interest in RMCO (as a percent)				58.33%		58.33%
Non-controlling unitholders ownership of common units in RMCO as a percentage				41.67%		41.67%
RMCO, LLC | RIHI
Significant Accounting Policies [Line Items]
Non-controlling unitholders ownership of common units in RMCO as a percentage				41.67%		41.67%

Non-controlling Interest - Owne

Non-controlling Interest - Ownership of common units in RMCO (Details) - RMCO, LLC - shares	Mar. 31, 2016	Dec. 31, 2015
Shares [Abstract]
Non-controlling unitholders ownership of common units in RMCO	12,559,600	12,559,600
RE/MAX Holdings, Inc. outstanding Class A common stock (equal to RE/MAX Holdings, Inc. common units	17,584,351	17,584,351
Total number of common stock units	30,143,951	30,143,951
Ownership Percentage [Abstract]
Non-controlling unitholders ownership of common units in RMCO as a percentage	41.67%	41.67%
RE/MAX Holdings, Inc. outstanding Class A common stock (equal to RE/MAX Holdings, Inc. common units	58.33%	58.33%
Total percentage of common stock units	100.00%	100.00%

Non-controlling Interest - Net

Non-controlling Interest - Net income reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Noncontrolling Interest
Weighted average ownership percentage of controlling interest	58.33%	39.99%
Income before provision for income taxes attributable to RE/MAX Holdings, Inc.	$ 7,965	$ 4,510
Provision for income taxes attributable to RE/MAX Holdings, Inc.	(3,025)	(1,759)
Net income attributable to RE/MAX Holdings, Inc.	$ 4,940	$ 2,751

Non-controlling Interest - Prov

Non-controlling Interest - Provision for income taxes reconciliation (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Minority Interest [Line Items]
Provision for income taxes attributable to RE/MAX Holdings, Inc.	$ (3,025,000)	$ (1,759,000)
Provision for income taxes attributable to noncontrolling interest	(234,000)	(389,000)
Provision for income tax expense	(3,259,000)	(2,148,000)
Certain foreign jurisdictions
Minority Interest [Line Items]
Provision for income tax expense	$ (335,000)	$ (262,000)

Earnings Per Share and Divide38

Earnings Per Share and Dividends - Reconciliation of the numerator and denominator used in basic and diluted EPS calculations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Numerator
Net income attributable to RE/MAX Holdings, Inc.	$ 4,940	$ 2,751
Denominator for basic net income per share of Class A common stock
Weighted average shares outstanding, basic	17,584,351	11,817,605
Denominator for diluted net income per share of Class A common stock
Weighted average shares outstanding, basic	17,584,351	11,817,605
Add dilutive effect of the following:
Weighted average shares of Class A common stock outstanding, diluted	17,638,667	12,293,505
Net income attributable to RE/MAX Holdings, Inc. per share
Basic	$ 0.28	$ 0.23
Diluted	$ 0.28	$ 0.22
Employee Stock Option
Add dilutive effect of the following:
Dilutive effect	15,635,000	458,992,000
Restricted Stock Units (RSUs)
Add dilutive effect of the following:
Dilutive effect	38,681,000	16,908,000

Earnings Per Share and Divide39

Earnings Per Share and Dividends - Additional Information (Details) - USD ($)	May. 05, 2016	Mar. 23, 2016	Apr. 08, 2015	Mar. 31, 2016	Mar. 31, 2015
Class A common stock
Dividends Payable [Line Items]
Dividends to Class A common stockholders				$ 2,638,000
Cash dividends declared per share				$ 0.1500	$ 1.6250
Quarterly dividend | Class A common stock
Dividends Payable [Line Items]
Dividends to Class A common stockholders				$ 2,638,000	$ 1,500,000
Cash dividends declared per share				$ 0.15	$ 0.125
Quarterly dividend | Class A common stock | Forecast
Dividends Payable [Line Items]
Cash dividends declared per share	$ 0.15
Special dividend | Class A common stock
Dividends Payable [Line Items]
Dividends to Class A common stockholders				$ 17,883,000
Cash dividends declared per share				$ 1.50
Quarterly distribution
Dividends Payable [Line Items]
Distributions declared to non-controlling unitholders		$ 1,884,000	$ 2,217,000
Special distribution
Dividends Payable [Line Items]
Distributions declared to non-controlling unitholders				$ 26,602,000

Acquisitions and Dispositions -

Acquisitions and Dispositions - Acquisition of RE/MAX of New York, Inc. (Detail) - USD ($)	Feb. 22, 2016	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Purchase Price Allocation
Cash and cash equivalents		$ 131,000
Goodwill		75,004,000		$ 71,871,000
Pro Forma Information
Total revenue		43,224,000	$ 44,632,000
Net income attributable to RE/MAX Holdings, Inc.		$ 5,054,000	$ 2,810,000
Basic earnings per common share		$ 0.29	$ 0.24
Diluted earnings per common share		$ 0.29	$ 0.23
Remax of New York, Inc.
Business Acquisition [Line Items]
Purchase consideration	$ 8,500,000
Purchase Price Allocation
Cash and cash equivalents	131,000
Franchise agreements	5,100,000
Other assets	350,000
Goodwill	2,919,000
Total purchase price	$ 8,500,000
Remaining amortization period of franchise agreement		11 years

Acquisitions and Dispositions41

Acquisitions and Dispositions - Additional Information (Detail)	Jan. 20, 2016facility	Dec. 31, 2015item	Apr. 10, 2015facility	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2016facility
Summary of dispositions
Number of brokerages having assets and liabilities sold | facility								21
Gain (loss) on sale or disposition of assets				$ (107,000)			$ (2,000)
RE/MAX Northwest Realtors
Summary of dispositions
Number of brokerages having assets and liabilities sold | facility	3
Gain (loss) on sale or disposition of assets				$ (90,000)
RE/MAX Equity Group
Summary of dispositions
Number of brokerages having assets and liabilities sold | item		12
Gain (loss) on sale or disposition of assets					$ 2,794,000
RE/MAX 100.
Summary of dispositions
Number of brokerages having assets and liabilities sold | facility			6
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | RE/MAX 100.
Summary of dispositions
Gain (loss) on sale or disposition of assets						$ 615,000

Acquisition and Dispositions -

Acquisition and Dispositions - Acquisition of RE/MAX of Alaska, Inc. (Details)	Apr. 01, 2016USD ($)
RE/MAX of Alaska, Inc. | Subsequent Event
Business Acquisition [Line Items]
Purchase consideration	$ 1,500,000

Intangible Assets and Goodwil43

Intangible Assets and Goodwill - Components of Company's Intangible Assets (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Finite Lived Intangible Assets [Line Items]
Amortization expense	$ 3,514,000	$ 3,549,000
Franchise agreements
Finite Lived Intangible Assets [Line Items]
Initial Cost	167,538,000		$ 162,438,000
Accumulated Amortization	(103,940,000)		(100,499,000)
Net Balance	$ 63,598,000		61,939,000
Franchise agreements | Weighted Average
Finite Lived Intangible Assets [Line Items]
Useful life of intangible assets	12 years 8 months 12 days
Other intangible assets
Finite Lived Intangible Assets [Line Items]
Initial Cost	$ 13,997,000		13,870,000
Accumulated Amortization	(8,410,000)		(8,929,000)
Net Balance	$ 5,587,000		4,941,000
Other intangible assets | Weighted Average
Finite Lived Intangible Assets [Line Items]
Useful life of intangible assets	8 years 2 months 12 days
Software
Finite Lived Intangible Assets [Line Items]
Initial Cost	$ 10,984,000		10,885,000
Accumulated Amortization	(6,767,000)		(7,325,000)
Net Balance	$ 4,217,000		3,560,000
Software | Weighted Average
Finite Lived Intangible Assets [Line Items]
Useful life of intangible assets	4 years 8 months 12 days
Trademarks
Finite Lived Intangible Assets [Line Items]
Initial Cost	$ 3,013,000		2,985,000
Accumulated Amortization	(1,643,000)		(1,604,000)
Net Balance	$ 1,370,000		1,381,000
Trademarks | Weighted Average
Finite Lived Intangible Assets [Line Items]
Useful life of intangible assets	14 years 4 months 24 days
Software Development
Finite Lived Intangible Assets [Line Items]
Initial Cost	$ 3,856,000		$ 3,165,000

Intangible Assets and Goodwil44

Intangible Assets and Goodwill - Estimated Future Amortization of Intangible Assets, Other Than Goodwill (Detail) $ in Thousands	Mar. 31, 2016USD ($)
Finite Lived Intangible Assets Future Amortization Expense Current And Five Succeeding Fiscal Years [Abstract]
Remainder of 2016	$ 11,264
2,017	11,806
2,018	7,937
2,019	7,648
2,020	6,757
Thereafter	23,773
Net Balance	$ 69,185

Intangible Assets and Goodwil45

Intangible Assets and Goodwill - Schedule of Changes in Goodwill (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Changes to goodwill
Beginning Balance	$ 71,871
Goodwill recognized in acquisition	2,919
Effect of changes in foreign currency exchange rates	214
Ending Balance	$ 75,004

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Accrued Liabilities [Line Items]
Accrued payroll and related employee costs	$ 4,895,000	$ 8,040,000
Accrued property taxes	997,000	1,594,000
Accrued professional fees	999,000	981,000
Lease-related accruals	352,000	354,000
Other	3,717,000	5,113,000
Accrued liabilities	10,960,000	16,082,000
Accrued severance and benefits expenses related to retirement	$ 1,602,000	1,009,000
HBN
Accrued Liabilities [Line Items]
Other		$ 3,251,000

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Less unamortized debt issuance costs	$ (1,358,000)	$ (1,527,000)
Less unamortized debt discount	(669,000)	(751,000)
Less current portion	(14,332,000)	(14,805,000)
Debt, net of current portion	173,029,000	185,552,000
2013 Senior Secured Credit Facility
Debt Instrument [Line Items]
2013 Senior Secured Credit Facility, principal of $520 payable quarterly, matures in July 2020, net of unamortized discount of $751 and $360 as of December 31, 2015 and 2014, respectively	189,388,000	$ 202,635,000
2013 Senior Secured Credit Facility | Term loan
Debt Instrument [Line Items]
Mandatory principal payments	$ 487,000

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Debt (Detail) $ in Thousands	Mar. 31, 2016USD ($)
Debt
Remainder of 2016	$ 1,461
2,017	14,332
2,018	1,947
2,019	1,947
2,020	169,701
Total debt	$ 189,388

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Mar. 26, 2015	Mar. 11, 2015	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Unamortized debt discount			$ 1,358,000		$ 1,527,000
Debt amendment costs recorded as unamortized debt discount			669,000		$ 751,000
Loss on early extinguishment of debt			136,000	$ 94,000
2013 Senior Secured Credit Facility First amendment
Debt Instrument [Line Items]
Debt amendment costs recorded as unamortized debt discount			555,000
Debt amendment costs			1,086,000
Debt Instrument, expense incurred			531,000
Term loan | 2013 Senior Secured Credit Facility
Debt Instrument [Line Items]
Credit facility, borrowing capacity			230,000,000
Loss on early extinguishment of debt			136,000	94,000
Excess cash flow payment	$ 12,727,000			7,320,000
Mandatory principal payments			487,000
Revolving loan facility | 2013 Senior Secured Credit Facility
Debt Instrument [Line Items]
Credit facility, borrowing capacity			10,000,000
Borrowings drawn during the period			0	$ 0
Available borrowings under the facility			$ 10,000,000
Revolving loan facility commitment fee on average daily amount of unused portion			0.50%
LIBOR loans | 2013 Senior Secured Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable interest rate floor			1.00%
LIBOR loans | 2013 Senior Secured Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		3.25%
LIBOR loans | 2013 Senior Secured Credit Facility First amendment
Debt Instrument [Line Items]
Increase to the maximum applicable margin		0.25%
ABR loans | 2013 Senior Secured Credit Facility | Alternative Base Rate
Debt Instrument [Line Items]
Variable interest rate floor			2.00%
ABR loans | 2013 Senior Secured Credit Facility | Federal Funds Effective Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
ABR loans | 2013 Senior Secured Credit Facility | Eurodollar rate
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
ABR loans | 2013 Senior Secured Credit Facility | Eurodollar rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%

Debt - Schedule of Senior Secur

Debt - Schedule of Senior Secured Credit Facility (Detail) - 2013 Senior Secured Credit Facility - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long term debt, carrying amount	$ 189,388	$ 202,635
Carrying amounts
Debt Instrument [Line Items]
Long term debt, carrying amount	187,361	200,357
Level 2 | Estimated fair value
Debt Instrument [Line Items]
Long term debt, fair value	$ 188,820	$ 198,583

Equity-Based Compensation (Deta

Equity-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 23, 2016	Mar. 11, 2015	Mar. 31, 2016	Mar. 31, 2015
Equity-based compensation
Incremental equity-based compensation expense			$ 766	$ 142
Class A common stock
Equity-based compensation
Closing price of RE/MAX Holdings’ common stock (in dollars per share)	$ 33.18	$ 32.45
Restricted Stock Units (RSUs) | Employees
Equity-based compensation
Restricted stock units granted (in shares)	75,057	74,893
Restricted stock units granted, value per unit (in dollars per share)	$ 33.18	$ 32.45
Vesting Period	3 years	3 years
Restricted Stock Units (RSUs) | Directors
Equity-based compensation
Restricted stock units granted (in shares)	12,663	10,787
Restricted stock units granted, value per unit (in dollars per share)	$ 33.18	$ 32.45

Equity-Based Compensation (Acti

Equity-Based Compensation (Activity for Restricted Stock Units) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Restricted Stock Units
Incremental equity-based compensation expense	$ 766	$ 142
Restricted Stock Units (RSUs)
Restricted Stock Units
Restricted Stock Units, Balance as of December 31, 2014	96,765
Restricted Stock Units, Granted	87,720
Restricted Stock Units, Balance as of December 31, 2015	184,485
Restricted Stock Units, Unvested	184,485

Equity-Based Compensation (De53

Equity-Based Compensation (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Equity-based compensation
Cash received related to exercise of stock options		$ 937
Additional shares available to grant under plan (in shares)	2,151,182
Incremental equity-based compensation expense	$ 766	142
Restricted Stock Units (RSUs)
Equity-based compensation
Restricted Stock Units, Unvested	184,485
Equity-based compensation expense	$ 766	$ 142

Equity-Based Compensation (Stoc

Equity-Based Compensation (Stock Option Activity) (Detail) - 10Q	3 Months Ended
	Mar. 31, 2016shares
Stock Options
Options, Beginning Balance	28,057
Options to acquire shares granted	0
Options, Ending Balance	28,057
Options, Vested	28,057

Leadership Changes and Restru55

Leadership Changes and Restructuring Activities (Details) - USD ($)	Apr. 09, 2016	Apr. 30, 2016	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Severance, separation and restructuring
Severance related expenses			$ 1,043,000
Equity-based compensation expense			766,000	$ 142,000
Selling, Operating and Administrative Expenses
Severance, separation and restructuring
Total costs, severance and other related expenses			1,043,000	$ 451,000
Separation And Transition Agreement
Severance, separation and restructuring
Equity-based compensation expense			331,000
Separation And Transition Agreement | Selling, Operating and Administrative Expenses
Severance, separation and restructuring
Total costs, severance and other related expenses			1,043,000
Separation And Transition Agreement | Accrued Liabilities
Severance, separation and restructuring
Reserve for severance and related benefits, current			583,000
Retirement Agreement | Selling, Operating and Administrative Expenses
Severance, separation and restructuring
Total costs, severance and other related expenses					$ 877,000
Equity-based compensation expense					216,000
Retirement Agreement | Accrued Liabilities
Severance, separation and restructuring
Reserve for severance and related benefits, current			253,000		250,000
Retirement Agreement | Other liabilities
Severance, separation and restructuring
Reserve for severance and related benefits, noncurrent			109,000		175,000
Separation Agreement | Selling, Operating and Administrative Expenses
Severance, separation and restructuring
Total costs, severance and other related expenses						$ 3,581,000
Equity-based compensation expense						$ 1,007,000
Separation Agreement | Accrued Liabilities
Severance, separation and restructuring
Reserve for severance and related benefits, current			766,000		759,000
Separation Agreement | Other liabilities
Severance, separation and restructuring
Reserve for severance and related benefits, noncurrent			589,000		$ 789,000
Former Chief Financial Officer and Chief Operating Officer | Separation And Transition Agreement | Selling, Operating and Administrative Expenses
Severance, separation and restructuring
Equity-based compensation expense			$ 331,000
Former Chief Financial Officer and Chief Operating Officer | Separation And Transition Agreement | Forecast
Severance, separation and restructuring
Severance related expenses		$ 575,000
Former President | Retirement Agreement
Severance, separation and restructuring
Severance period			24 months
Former Chief Executive Officer | Separation Agreement
Severance, separation and restructuring
Severance period						36 months
Restricted Stock Units (RSUs) | Forecast
Severance, separation and restructuring
Accelerated vesting of restricted stock units	12,109
Restricted Stock Units (RSUs) | Former Chief Financial Officer and Chief Operating Officer | Separation And Transition Agreement | Forecast
Severance, separation and restructuring
Accelerated vesting of restricted stock units		12,109

Leadership Changes and Restru56

Leadership Changes and Restructuring Activities - Rollforward of Estimated Fair Value Liability Established for Total Severance and Other Related Costs (Details) - USD ($) $ in Thousands	Apr. 09, 2016	Mar. 31, 2016	Mar. 31, 2015
Restructuring Cost and Reserve [Line Items]
Balance, January 1, 2015		$ 2,021
Severance and other related expense		1,043
Accretion		19
Cash payments		(452)
Non-cash adjustment		(766)	$ (142)
Balance, September 30, 2015		2,300
Restricted Stock Units (RSUs) | Forecast
Restructuring Cost and Reserve [Line Items]
Accelerated vesting of restricted stock units	12,109
Separation And Transition Agreement
Restructuring Cost and Reserve [Line Items]
Non-cash adjustment		$ (331)

Commitments and Contingencies (

Commitments and Contingencies (Details)	Feb. 02, 2016USD ($)	Oct. 07, 2013USD ($)	Mar. 31, 2016USD ($)lease	Mar. 31, 2015USD ($)
Loss Contingencies [Line Items]
Loss on sale or disposition of assets, net			$ (107,000)	$ (2,000)
Short-term portion of liability			47,000
Long-term portion of liability			$ 188,000
Assignment and Assumption of Leases Agreements
Loss Contingencies [Line Items]
Number of lease assignement agreements | lease			3
Period over which company remains secondarily liable			P64M
Outstanding lease guarantees			$ 8,522,000
Loss on sale or disposition of assets, net			$ (243,000)
Assignment and Assumption of Leases Agreements | Recovery by defendants of certain costs
Loss Contingencies [Line Items]
Number of Leases | lease			21
HBN
Loss Contingencies [Line Items]
Purchase consideration		$ 7,130,000
Legal damages awarded		3,153,000
Payment of legal settlement	$ 3,251,000
Tails Inc.
Loss Contingencies [Line Items]
Purchase consideration		$ 20,175,000

Related-Party Transactions (Det

Related-Party Transactions (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Related party balances and activity
Accounts payable to affiliates	$ 130,000		$ 66,000
Advertising funds
Related party balances and activity
Related party transaction expense - S,G and A	11,000	$ 282,000
Other affiliates | Services rendered and rent for office space provided
Related party balances and activity
Amounts allocated for services rendered and rent for office space	$ 431,000	416,000
General payment period	30 days
Accounts payable to affiliates	$ 130,000	$ 66,000