RE/MAX LLC President and Chief Executive Officer Nick Bailey has been replaced as head of the franchisor in the US, but the move will not impact the Australian arm of the international network.
RE/MAX Australia Managing Director Joel Davoren said the franchise in Australia was largely autonomous and had experienced a great start to 2024.
“RE/MAX LLC are very aware of our market conditions and our industry,” he said.
“It’s very sophisticated and we are very professional here so they really do just say, ‘You guys do what you need to do, you adhere to the guidelines like everyone else, and you keep forging ahead’.
“And we do that. We have that autonomy to build and grow the way we need to in a fairly unique market nationally.
“We love being part of the RE/MAX brand.”
Mr Davoren said the start to the year for RE/MAX in Australia had been buoyant in terms of listing numbers and sales.
“We’re in a really good position, we’ve had a great year,” he said.
“The start of this year has been as good as I can remember and everyone has hit the ground running.
“The final quarter of last year was really strong and this year has started extremely strong.
“I would think most franchise groups would be saying the same thing.”
RE/MAX Holdings, the parent company of RE/MAX LLC, said Mr Bailey, who had served as president for almost three years, was leaving the company.
In a statement, RE/MAX said Amy Lessinger had been appointed President after more than 20 years with the brand as an agent, a team leader and a broker/owner.
Ms Lessinger will report to RE/MAX Holdings CEO Erik Carlson.
Inman reported that RE/MAX announced Mr Bailey’s departure on the same day it unveiled that its revenue had fallen for a sixth-consecutive quarter.
The company announced its revenue dropped 5.2 per cent in the fourth quarter of 2023, compared to the same time a year earlier.
RE/MAX earned $76.6 million in the quarter and reported a net loss of $69 million for the year.
Meanwhile, the company reported its operating expenses increased 18.5 per cent in the fourth quarter of 2023 compared to a year earlier, to $86.3 million.
“We generated better-than-expected margins in the fourth quarter, driven by our ongoing focus on effective cost management amidst what continues to be a very difficult housing market,” Mr Carlson said in a statement.
“Despite macro conditions beyond our control, our expense discipline has allowed us to remain nimble, able to pursue and seize those growth opportunities that we identify as having the greatest potential.”
Ms Lessinger said serving as president would enable her to do what she’s passionate about – helping agents close more sales, team leaders reach their goals, and RE/MAX broker/owners grow their offices.
“I love this brand, and I love the people in this network,” she said.
“I’ve been around them for nearly my entire real estate career.
“I’ve learned from them. I’ve been inspired by them.
“And I’ve seen the impact they have on each other, on their clients, and on their communities.
It’s a special thing to be part of – and it’s an absolute honour to be leading the way.”
