Attend Inman Connect in Las Vegas July 30-August 1! Seize the moment and take control of the next era of real estate. Through immersive experiences, innovative formats and an unparalleled lineup of speakers, this gathering becomes more than just a conference, it becomes a collaborative force shaping the future of our industry. Grab your tickets now!
Fifty-five years ago, Dave Liniger hit a point of no return.
Although Liniger was smart, he was a self-proclaimed slacker and didn’t graduate from Indiana University. His next option was to join the United States Air Force and serve in the Vietnam War. Five years in the Air Force gave Liniger time to mature and effectively pursue his passion for real estate.
Dave Linniger | Photo credit: RE/MAX
“Thank God the American troops are there,” he told Inman. “I took two trips overseas, which gave my kids’ brains a chance to mature and catch up with others.”
When he caught up with the others, Liniger decided to realize his potential and started RE/MAX—one of the first companies to move away from the 50:50 commission split. His decision sparked criticism and controversy, and many of his rivals set the stage for Linniger’s downfall.
“The industry didn’t like (RE/MAX) because I was paying agents much more than they would have paid under the old 50/50 split,” he said. “They tried to bankrupt me, but they didn’t have to try too hard. I did a pretty good job doing it myself.”
“I was frustrated. I made all the mistakes,” he added. “The recession started, and then the oil embargo hit. I lost my financial backers. I had two choices: I could go to the naysayers and say, ‘I give up,’ or I could keep going. I wasn’t going to surrender.”
Ringer said his journey to the lowest point of his life opened the way to some of the best discoveries and growth of his life and laid the foundation for a 50-year history that no one thought he could achieve. Now that Liniger has stepped back from the spotlight, he’s ready to share everything he’s learned through a new book, “perfect 10”.
The book’s first release coincides with RE/MAX’s annual R4 conference in Las Vegas, where Liniger and newly appointed RE/MAX President Amy Lessinger will officially kick off the company’s 51st anniversary.
“This is the 55th birthday of an 18-year-old kid who woke up, went to college, failed, went to war, came back and said, ‘I’m going to start a business, I’m going to have a wife and kids, I’m going to make it,'” He said.
Inman: What was the inspiration behind “The Perfect Ten”?
Linear: When I started RE/MAX, I wasn’t immediately successful. I thought it would be like this. I thought I was an entrepreneur, but I had no real leadership experience other than what I learned in the Army in Vietnam. I thought my dream was right.
I am so sad. I made all the mistakes. The recession began, and then the oil embargo hit. I lost my financial backer. I had two choices: I could go to the naysayers and say “I give up,” or I could move on. I won’t surrender.
I began to discover personal development. I went to my managers and there were eight of them. One female, seven male. Their average age is nearly 20 years older than me. I sit down with them and tell them the truth – what do you like most about RE/MAX? What do you like least? It takes a pretty thick skin to listen to. They were tough, but I didn’t want to lose.
They were friendly, but they pointed out my lack of management and leadership experience in real estate. I have to build the right team. It’s amazing that the company survived. I didn’t stop there – I started taking every class I could, even though I really had no money. I learned from the best and the brightest, and when we started hosting RE/MAX conferences, I hired the same people to teach our agents.
My passion is creating a better way for men and women in the real estate industry to make more money and have more freedom and independence. So this book is about the lessons we (Gail and I) have learned from our personal experiences and what we’ve learned from the best minds in business about entrepreneurship, leadership, scalability, personal development and Franchise Lessons.
It’s the 55th birthday of an 18-year-old kid who woke up, went to college, failed, went to war, and came back and said, “I’m going to start a business, I’m going to have a wife and kids, and I’m going to make it.” .”
I read an excerpt from your book and loved what you said about learning from the “school of the hard knocks.” There is only so much we can learn in class. There are some things we just need to experience. Given the current state of the industry, what specific opportunities are there for people to learn, grow, and prepare for long-term success?
There is an 80/20 rule in this industry. 20% of agents handle 80% of the business. We currently have 1,500,000 real estate agents, 50% of whom have not completed a transaction in the past 12 months. We are an industry with very low barriers to entry. Everyone has a mother, brother, next-door neighbor, and best friend who might take advantage of us because they like us and trust us. It’s not that we are experienced and top producers.
It reminds me of what people say about Charles Darwin and his view of the most powerful species in existence. But that’s never what he said. The most adaptable species will survive, he said. More than 100 million years ago, dinosaurs were the most powerful creatures that ever walked the earth. Are they here today? No. But guess what else is here? mosquito.
So when people ask me why RE/MAX is so successful, I say it’s because we employ the most experienced and talented salespeople in the industry. We don’t emphasize beginners and part-timers. We’ve had eight recessions and nine presidential terms; two of them were downright crooked to the point of stupidity. I won’t call a party. There are some good Democrats and some good Republicans, but really, we go through all their crap.
For example, Ronald Reagan in his infinite wisdom said, “We have to stop inflation.” I’m a fan of Reagan, but as a real estate agent, seeing mortgage rates go from 7% to 17.8% in one year is devastating of. How exactly do you sell real estate? You have to be able to adapt. Yes. And then you had other recessions, and in 2007, the number of deals dropped by almost 50%. Again, the fittest survive.
You have to be flexible. You have to be able to adapt. You have to keep embracing change. You can’t say, “No, no, no, I don’t want to change.” Go to Inman (Connect), go to National Association of REALTORS meetings, go to your franchisee’s conventions and listen to the people who are still having success.
Listen to the street fighters, listen to the crazy guys – they just don’t give up. They didn’t say it was too hard. They said, ‘If that’s the case, then it’s up to me. I want to go there. I’ll find a way to do it. “
How do you stay adaptable? Your book mentions that you read five to six books a week. What book have you read recently that had the greatest impact on you?
“Atomic Habits” has been on the bestseller list for four consecutive years. This is the most logical view of how habits shape our lives. The other one is The Compound Effect by Darren Hardy. The compounding effect is the small decisions we make day after day that add up over a lifetime. These decisions determine whether you succeed or fail. It’s easy to read, easy to understand, but difficult to implement.
It’s about doing 100 things 1% better. There is no one thing that can be done 100% better. Everyone wants the magic of “I want this tomorrow.” But change takes time.
Speaking of changes, RE/MAX has been going through a lot lately. The company celebrated its 50th birthday last year and recently experienced the death of former chief executive Nick Bailey. How do you think RE/MAX can remain adaptable and chart a course for the next 50 years?
The truth is, our industry is undergoing incredible change, faster than at any time in the past 50 years. All industries—I don’t care if it’s agriculture, education, or medicine—have to figure out how to keep up with change. You can’t be afraid of it. You can’t stop it. You can’t be an ostrich and bury your head in the sand. You can’t do today’s business using yesterday’s methods and expect tomorrow’s business.
You have to be open-minded to ideas that are foreign to you. You don’t have to be the first to make changes because a lot of changes happen and then fade away, but you have to realize that you have to be open and listen to both sides. argument. Don’t let your own personal biases or your own personal experiences determine how you will respond.
The explosion of litigation, the explosion of technology, the explosion of artificial information—they are all changes. You just have to adapt. You read, you learn. You don’t have to learn hundreds of ideas. Learn one or two and implement them, then learn one or two more and implement them, and you will continue to grow.
Email Marianne McPherson
