Nick Bailey has spent 23 years in the real estate industry. He was a vice-president at Zillow, the CEO of Realogy brand Century 21, and for the last two years the chief customer officer at RE/MAX.
Bailey, who agreed to an extensive on-the-record Zoom interview with HousingWire, is RE/MAX’s no. 2 behind CEO Adam Contos. He ensures that the company is providing support to RE/MAX franchises across the country – the franchises whose fees are RE/MAX’s main revenue source.
Besides hot air balloons, the 48-year-old, Denver-based franchisor is known for “professional, full-time agents” Bailey said. That is, agents who don’t mind the company’s upfront fees, because they keep about 95 percent of their commission from each home sale.
“We’re likely the most expensive company to be with when you don’t sell houses, and the least expensive company to be with when you do sell houses,” Bailey said.
Indeed, in explaining RE/MAX’s limited role in providing agents health care, the agent’s ability to negotiate commissions, and even the agent’s ability to affect home inventory, Bailey spoke of the real estate agent as maker of their own destiny.