In her first keynote as president of RE/MAX, Amy Lessinger discussed market headwinds, buyer’s agent commissions, homebuyer agreements and plans to reinvigorate the franchisor’s U.S. business.
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The impact of housing market turmoil and a sixth consecutive quarter of revenue declines took center stage at RE/MAX’s annual R4 conference this week, with President Amy Lessinger delivering an emotional speech looking back at the company’s history and plans to reclaim its franchise crown in the U.S.
“Our goal is to be a global real estate leader and No. 1 in every market we serve,” she told thousands of agents seated at the Mandalay Bay Convention Center on Tuesday. “Let me give you an example. Our Canadian friends have held the number one market share since 1987.”
“Of course, many of our global regions (and) some regions in the U.S. also enjoy No. 1 market share, but I have to be honest,” she added. “We still have some work to do in the United States. We still have some growth to do. We will regain the dominant market share in the United States.”
Amy Lessinger | Photo credit: RE/MAX
Lessinger did not disclose specific U.S. market share statistics; however, she said the brokerage’s global performance in 2023 proves that RE/MAX has the technology, tools and systems to return its U.S. business to a leading position.
“Our network has grown to more than 140,000 agents in 110 countries and regions,” she said. “It may have been a challenging year for many in the real estate industry, but I’m pleased to say that we can once again say loudly and proudly that no one in the world sells more real estate than RE/MAX” .
“Your average score is 11.8 while everyone else is (Wall Street Journal) The average survey score was 5.2,” she added. “This is not new. RE/MAX has been an industry leader for decades, but we cannot be complacent. Continuously growing and getting better is in our DNA at RE/MAX.”
Lessinger noted that technology and education are key to addressing the current market challenges, which include a proposed settlement by the National Association of Realtors that would eliminate comp offers from being shown on the MLS and require homebuyers to sign a representative before touring a home. protocol.
RE/MAX was one of the first real estate companies to reach a settlement, donating $55 million to Sitzer | Burnett and Moore Settlement Fund.
“You’ve all seen these sensational headlines and a lot of clickbait,” she said before explaining that 19 states already require buyer’s agency agreements. “I love buyer’s agents. I think it’s a change for some people and feels foreign, but that’s the cool thing about our network – we’re going to figure it out over time. Everybody is here to help each other .”
Lessinger said RE/MAX is preparing agents to handle pending changes to buyer’s broker commissions, which would take effect in July if the court approves NAR’s settlement proposal. The brokerage’s education platform, RE/MAX University, has a new page dedicated to buyer agents, as well as a new Kaplan-powered course called “Buyer Agent Professional.”
“I was at a meeting during the Great Recession where Dave (Liniger) introduced the (certified distressed property) designation. None of us knew how to do short sales. We didn’t know how to secure REO properties,” she said. “But what happened? We were all educated. We learned how to adapt. We know education is critical to preparing you and moving you forward.”
In addition to launching the new name, Lessinger is encouraging agents to leverage the brokerage’s MAX/Tech, powered by the kvCORE platform, to enhance their marketing and lead generation efforts.
She said that since its launch in August 2022, RE/MAX agents have uploaded more than 30 million contact information, sent 135 million emails and 6.3 million text messages, and been socialized 84 million times through the platform Media impressions. The platform is also responsible for nurturing over 600 new leads for RE/MAX agents since launch.
“[This can]help you get more market share for yourself and make a louder noise in your market if you’re not using it,” she said. “The platform is designed to help you work smarter, not harder, and it’s designed to help you carve out a niche in the market. But if you’re not using it, it can’t work its magic.”
Lessinger concluded his keynote by urging agents to continue writing their RE/MAX stories and take advantage of the opportunity to learn from thousands of fellow agents around the world.
“I love this company and I love this network,” she said. “My commitment to all of you is to ensure we focus on the future (and) continue to provide you with the support, tools and education you need to thrive in any market.”
“I hope you get more than you deserve because you are absolutely the best in this industry,” she added. “That’s it, hands down. This is RE/MAX.”
Email Marianne McPherson
