BAM Key Details:

  • Yesterday, RE/MAX announced leadership changes, along with its Q4 2023 and full-year earnings. 
  • Nick Bailey, President and CEO of RE/MAX, is leaving the company. Amy Lessigner will fill the role as President. 
  • Promotions were also announced from Abby Lee and Susie Winders to Executive Vice President of Marketing, Communication, and Events, and Senior Vice President, General Counsel, Chief Compliance Officer, respectively.

RE/MAX announced leadership changes in its Q4 and full-year 2023 financial results report—including a new president.

Nick Baily, CEO and President of RE/MAX, is leaving the company, though there are no further details as to why. Amy Lessinger is succeeding Bailey as President. 

Under “Leadership changes” in its report, RE/MAX announced both Bailey’s departure and the promotion of three leaders to higher positions in the company:

  • Amy Lessinger— to President of RE/MAX, LLC
  • Abby Lee—to Executive Vice President of Marketing, Communications, and Events
  • Susie Winders—to Executive Vice President, General Counsel, Chief Compliance Officer, and Secretary

Erik Carlson is staying on as CEO of parent company RE/MAX Holdings. 

Lessinger joined RE/MAX in 1998 as an agent before opening a RE/MAX Realty Affiliates branch in Reno. In 2020, she sold her ownership interest in the brokerage and joined RE/MAX corporate. 

Carlson commented on the promotions: 

As we continue to leverage our industry-leading brands, attractive franchise model, and unique competitive advantages, I look forward to working with Amy, Abby, Susie, and our broader leadership team to drive forward our focus on providing our brands’ broker/owners, agents, and loan originators with the resources and services they need to help them thrive, which should benefit all of our stakeholders.

Erik Carlson

CEO of RE/MAX Holdings

Dave Liniger, RE/MAX co-founder and chairman of the board, had more good things to say: 

I am delighted to recognize Amy, Abby, and Susie for their accomplishments. They are exceptional leaders who have each played a meaningful role in our Company’s success by tirelessly promoting our strong brands and supporting our highly productive networks.

Dave Liniger

Chairman of RE/MAX’s board and co-founder of the firm

While the company gave no reason for Bailey’s departure, recent losses in both revenue and agent numbers, along with the rising cost of litigation, could have contributed to his decision. 

  • Total revenue for 2023 dropped 7.8% year over year, with a net loss of $69 million. 
  • Combined agent count in the U.S. and Canada fell 4.2% year over year to 79,416 agents as of January 31, 2024, despite several new franchises joining the firm over the past several months. 
  • Antitrust litigation has taken its toll on the company, even with the settlements reached in the fall of 2023 for Sitzer/Burnett, Moehrl, and Nosalek

Nick Bailey’s history with RE/MAX

Nick Bailey first joined RE/MAX in 2001, taking on various roles including— 

  • Management consultant
  • Regional director
  • Regional vice president

In 2012, he left the company to take a position at Market Leader, which Zillow acquired in 2014, followed by two years as President and CEO at Century 21 starting in 2017. 

He returned to RE/MAX in 2019 as chief customer officer before his promotion to president in 2021 and to CEO in 2022. 

Here’s a brief summation of the leadership changes included in the RE/MAX report on Q4 and full year 2023 financial results:

“Today the Company announced the promotions of three of its senior leaders – Amy Lessinger, Abby Lee, and Susie Winders – in recognition of their contributions to the Company over their long tenures.

“Ms. Lessinger is being promoted from Senior Vice President of Region Development for RE/MAX, LLC to President of RE/MAX, LLC, responsible for overseeing the RE/MAX brand and network globally. She succeeds Nick Bailey, President and CEO of RE/MAX, LLC, who is leaving the Company

“Ms. Lee, previously Senior Vice President of Marketing and Communications, is being promoted to Executive Vice President of Marketing, Communications, and Events. She will continue to lead advertising, marketing, communications, and public relations for the Company, in addition to managing the Company’s events team. 

“Susie Winders is being promoted from Senior Vice President, General Counsel, Chief Compliance Officer and Secretary to Executive Vice President, General Counsel, Chief Compliance Officer, and Secretary. Ms. Lessinger, Ms. Lee, and Ms. Winders will report directly to RE/MAX Holdings CEO Erik Carlson.”