Nick Bailey out, Amy Lessinger in at RE/MAX

Nick Bailey is leaving RE/MAX. The firm announced the departure of its CEO and president on Thursday, along with its Q4 2023 and full year earnings. No reason was given for the departure.

To fill Bailey’s vacant position, RE/MAX has promoted Amy Lessinger to president. Abby Lee and Susie Winders also received promotions, with Lee being named executive vice president of marketing, communications and events, while Winders is the company’s new executive vice president of general counsel.

In a release, RE/MAX noted that Erik Carlson is staying on as the CEO of parent company RE/MAX Holdings.

Lessinger previously served as senior vice president of regional development at RE/MAX. She joined the firm in 1998 as an agent before opening a new RE/MAX Realty Affiliates branch in Reno. Lessinger joined the corporate side of the firm in 2020 when she sold her ownership interest in the brokerage and joined the RE/MAX world headquarters team.

“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,” Carlson said in a statement.

Dave Liniger, the chairman of RE/MAX’s board and co-founder of the firm, shared similar sentiments: “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.”

Bailey’s departure comes as RE/MAX reported a 7.8% annual decrease in its total revenue for 2023 and a net loss of $69 million for the year. Additionally, despite several new franchises coming on board over the past several months, RE/MAX’s combined agent count in the U.S. and Canada was down 4.2% annually to 79,416 agents as of Jan. 31, 2024.

The firm is also in the middle of navigating its way through a mess of litigation, namely the Sitzer/Burnett, Moehrl and Nosalek commission lawsuits, which it settled during the fall of 2023.

Bailey initially joined RE/MAX in 2001, serving in various roles including as a management consultant, regional director and regional vice president. In 2012, Bailey left the firm to take on a position at Market Leader, which was acquired by Zillow in 2014.

Bailey remained at Zillow until 2017 when he made the jump to Century 21, where he served as president and CEO for two years. He returned to RE/MAX in 2019 to serve as chief customer officer before being named president in 2021 and adding the CEO title in 2022.

RE/MAX did not return a request for comment.