In a sign that the nation's property market is reviving, a franchiser of real estate brokerages, Re/Max Holdings has launched its initial public offering aiming to raise about $100 million.

Re/Max Holdings, which is based in Denver, has more than 92,000 real estate agents globally. The company said in a filing that it is aiming to raise as much as $100 million from the stock markets. The real-estate franchise operator will use the funds raised for offering to increase its regional rights in the central Atlantic and south-western United States.

The company said that it will increase its share of agents in company-owned regions from 46 per cent to 54 per cent of the total US and Canada agents. The company had recorded a fall in the total number of agent during the economic slowdown but has started growing its agent numbers since previous year and is continuing to record strong growth this year.

The company said that it will use $27.3 million form the money raised to buy back franchise rights in the central Atlantic and southwestern regions in the US through business assets that are owned partly by some of the company’s executives and family members. Co-founders and large shareholders, Dave and Gail Liniger said that the remaining funds will be used to buy shares in RMCO LLC as the company will become its exclusive manager, operator and controller.