RE/MAX CCO Tells AREAA Audience ‘Don’t Furlough Yourself’

In late April, RE/MAX Chief Customer Officer Nick Bailey sat on a panel for the Asian Real Estate Association of America (AREAA) Virtual Global & Luxury Summit. His advice to the 1,000+ audience members was direct: “Don’t furlough yourself.” While acknowledging that, in a literal sense, certain economic situations are beyond anyone’s control, Bailey emphasized the unique and defining factor of entrepreneurship is that when the going gets tough, the tough get going.

The topic of AREAA’s event was COVID-19 – 2020’s greatest disruptor. Featuring real estate CEOs, executives and mortgage experts, the event focused on what’s in store for the residential, luxury and commercial real estate markets this year and beyond.

Bailey shared three simple tips to help brokers and agents not only survive this storm, but thrive in its wake.

1. Communicate

When asked about what the corporate response from RE/MAX during this pandemic entailed, Bailey responded first with “communication.” “RE/MAX has an enormous global footprint with over 130,000 agents in over 110 countries and territories, so one of the first steps we took to support our network was to advance our communication offering and provide them with the tools to engage more effectively. We provided a free Zoom Pro account to every RE/MAX brokerage in the world,” Bailey said.

“Despite a potential decrease in transactions throughout the industry this year, I believe some agents out there will have record years,” said Bailey. “There’s a lot of work that can be done, even if it’s checking in with your community and continuing to serve in that role as a trusted advisor during these uncertain times. Don’t sideline yourself and wait for this to be over to re-engage or you’ll emerge behind.”

2. Connect

Connecting goes hand in hand with communication. “The safety and well-being of our agents, and homebuyers and sellers is the most important thing,” said Bailey. “It’s important to also remember that times like these are not about pulling back. Our leadership team has the mindset that this is a time we should not cut back, but actually lean into the resources we provide our network of brokers and agents and double down on delivering more to help them be successful.”

That same principle can be applied to anyone running their own real estate businesses. Offering a helping hand both in and outside of real estate might create opportunities after the pandemic that weren’t there before.

3. Grow

Take this time to invest in yourself by learning a new tool and focusing on training. “Technology won’t put agents out of business; agents who don’t embrace technology will put themselves out of business,” said Bailey. “I believe the real estate agent will remain the most important part of the transaction in my lifetime. Don’t fear technology; embrace it and let it help you do your job better so you remain an invaluable advisor in the most important financial transaction most people make in their lives.”

At the start of the pandemic in the U.S., RE/MAX took immediate steps to leverage its RE/MAX University platform by developing a series of webinars, Facebook Live presentations and coaching sessions to help agents conduct virtual tours, connect through video, learn new technologies, and deliver value to buyers and sellers while adhering to social distancing guidelines. 

Bailey’s concluding thoughts left the audience with an encouraging note to maximize their potential. Taking a note from Jack Canfield, an American author and transformational speaker, Bailey noted when it comes to bad outcomes, “unsuccessful people blame the event and successful people blame the response.”

This is the fourth year RE/MAX has been a sponsor of the AREAA State of Asia America Report, one of the most comprehensive compilations of Asian American and Pacific Islander (AAPI) real estate and economic data available.

Members of AREAA can view the webinar here.