UPDATE Feb. 23: View the video announcement Re/Max sent to its agents
Today, Re/Max announced the replacement of president and CEO Nick Bailey. This coincided with the company sharing that its revenue fell for the sixth consecutive quarter: it dropped 5.2 per cent in Q4 of 2023 (earnings were $76.6 million).
This was the result of a slower-than-usual year for the industry thanks to low inventory and high home prices and interest rates. The company reports that for the year, revenue dropped 7.8 per cent from 2022 (to $325.7 million).
Bailey served as president for almost three years and CEO for two of those years. Earlier in his career, he held several positions at Re/Max World Holdings.
The company announced Amy Lessinger would take over from Bailey as president and will report directly to Erik Carlson, Re/Max Holdings CEO.
Learn more about the leadership change here.
Photo source: news.remax.com
Emma Caplan-Fisher is an editor and writer for REM. She has over a decade of experience in various content types and topics, including real estate, housing, business, tech, and home & design. Emma’s work has also been featured in Cottage Life, the Vancouver Real Estate Podcast, the Chicago Tribune, Narcity Media, Healthline, and others. She holds a Certificate in Editing from Simon Fraser University.
