Fort Lauderdale Realty Giant Folds After 20 Years

Re/Max in Fort Lauderdale shuts downHomeowners aren't the only ones getting hit by the real estate recession. RE/MAX Partners, a Fort Lauderdale, Fla. franchise of real estate company RE/MAX L.L.C., is closing its doors after five years of deteriorating home sales. The largest RE/MAX brokerage in Florida, it experienced a 29 percent drop in business after the April expiration of the federal homebuyer tax credit. Also contributing to the decline were the aftereffects of Hurricane Wilma. Management is trying to help relocate the firm's more than 160 agents to other RE/MAX offices.

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