In a stunning example of real estate’s historic ride in 2021, RE/MAX, LLC announced that its agents closed more than 2 million transactions globally last year. “We’re a company of firsts, and now we’re the first (network) in the history of real estate to close 2 million sides,” said RE/MAX President & CEO Nick Bailey from the stage of the brand’s R4® convention, held at the MGM Grand in Las Vegas earlier this week.
During the event’s general opening session, Bailey told the crowd of more than 7,000 franchise owners, real estate agents and other attendees—representing 42 countries—that this unprecedented worldwide productivity is fueled in part by the competitive advantages RE/MAX provides, such as brand power, marketing, technology and culture. According to Bailey, RE/MAX agents increased their productivity in each of the brand’s divisions:
– U.S.: 16.3 sides per agent
– Canada: 20.4 sides per agent
– Global: 9.9 sides per agent
Bailey told the crowd that RE/MAX is consistently “a company of firsts” because it remains focused on what matters: helping people achieve the dream of homeownership.
“It’s sad to say that 87% of real estate agents who get their license don’t have it five years later,” he said. “You’re here because you sell a lot of houses. Eighty percent of the industry is noise—national lawsuits, this new company over here, technology that’s going to put us in the unemployment line…it’s really noisy. We have to work on the foundation and stay laser focused on what matters, even in a time when there’s global unrest.”
Bailey also put rising interest rates in perspective, harkening to the days when many in attendance sold houses at an 18% rate. “Are we really worried about 4? Come on, people—you’ve got this,” he said, pointing to positive indicators, such as the population rate and rising household formation.
Likewise, Bailey quelled concerns over inventory. “Do we have an inventory problem? I’m going to say no,” he said. “If we had an inventory problem, you wouldn’t have been able to sell 6.12 million homes. The inventory was there—the problem was it flew off the shelves in record time. Inventory’s not the problem, it’s who gets it and the timeline in getting it off the shelf. Inventory is only low when it’s not yours.”
With thoughts extended to the 120 RE/MAX agents and 17 offices in Ukraine, Bailey also noted the brand’s global growth in 2021. “Without a doubt, we’re going to continue to grow. At 142,000 agents globally, I can see in just a few years, without question, this organization will be 200,000 agents strong. That’s where we’re going.”
Tech-Powered Branding
Showing the crowd the “All Together” spot from the recently released 2022 RE/MAX National Advertising Campaign, Bailey emphasized the power of the RE/MAX brand as well as how agents can use the campaign to their advantage by personalizing spots for use on their social media.
In terms of the overall technology plan for RE/MAX in 2022, Bailey explained that the focus will be on integrating the many technology acquisitions and new tech products RE/MAX recently developed, such as Megaphone and First. The overall goal? To simplify tools so that agents can put them to use.
Investing in Team Success
Bailey also announced a new relationship with Workman Success Systems to offer exclusive, specialized training for agent teams. RealTeam Solutions, delivered through RE/MAX University, will provide customized content and instruction for agents who want to form a team as well as team leaders looking to expand their team.
The crowd also enthusiastically responded to Bailey’s announcement that new brand standards will enable teams to add their logos to RE/MAX yard signs. “We’re going bigger on teams than we ever had,” he said.
A Record-Breaking Year of Giving
In addition to putting up historic numbers in terms of production, the RE/MAX network also reached new heights in charitable giving last year, announcing during the conference that its affiliates donated more than $185 million through the brand’s 30-year philanthropic partnership with Children’s Miracle Network (CMN) Hospitals. This total includes a record $11.4 million donated in 2021 alone.
On hand to celebrate the achievement was Marie Osmond, the co-founder of CMN Hospitals, who took the stage to thank RE/MAX affiliates for their support and generosity. The session also featured a performance by CMN Ambassador Ava Paige, a 17-year-old singer and cancer survivor.
The RE/MAX Miracle Home Program, through which many agents make a donation after a closed transaction, is the cornerstone of the partnership. Agents involved in the program make a contribution each time they close a transaction and send an Honor Card to their clients letting them know they donated on their behalf. Agents also raise funds in a variety of other ways, including organizing live auctions and hosting community festivals.
“RE/MAX affiliates have taken this cause to heart for many years,” said Mike Reagan, RE/MAX SVP of Industry Relations and Global Growth & Development. “Their generosity reflects the RE/MAX culture of giving, and their donations change the lives of so many children and their families. It’s an amazing thing to be part of.”
The Future of RE/MAX Leadership
Additional highlights from the R4 conference included a discussion among Bailey and RE/MAX leaders, Co-Founder & Co-Chair Dave Liniger, departing RE/MAX Holdings CEO Adam Contos, and incoming RE/MAX Holdings Co-CEO Steve Joyce. Liniger presented Contos with a Distinguished Service award for his many years of service.
“One of the interesting aspects to me of Adam’s journey is the fact that he was surrounded by true entrepreneurs, and he got to know the very best broker/owners and managers, and the very best teams and agents,” said Liniger. “He put his heart and soul into it, but it stimulated this desire for him…to be in business for {himself}. This is the most entrepreneurial group of people in the world, not just the real estate industry.”
Contos thanked the crowd for their support during his 18-year career with the company and congratulated them on their achievements. “This is an amazing organization,” he said. “Everybody’s here for the same reason. We help people realize their dream—the fundamental human need for shelter. Remember something…you are the best at what you do in this industry.”
In terms of what’s next, Contos shared that he will focus on business development, investing in emerging growth companies, coaching and consulting, and working with different private equity groups to “help them create leadership alignment.” He emphasized that he’ll continue to be a visible presence at RE/MAX.
“You’ll see me out there. I may be done as RE/MAX CEO, but I’m not gone as RE/MAX family,” he said.
Joyce emphasized that he will continue Contos’ focus on service to the network. “I don’t have to come in and change the culture,” he said. “My job is building on what’s already been established.”
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Maria Patterson is RISMedia’s executive editor. Email her your real estate news ideas to maria@rismedia.com.
