Lessons from a Legend: Dave Liniger Appears on Good Morning RE/MAX

The first time RE/MAX Chairman and Co-Founder Dave Liniger went through a downturn, he’d just started RE/MAX. There was an oil embargo, which led to a gas shortage, and real estate agents were forced to adjust how they conducted business.

Nearly five decades and seven recessions later, Liniger is once again watching as the real estate industry responds to and changes with the COVID-19 pandemic.

“The good real estate agents – the superstars – they figure out how to adapt,” says Liniger, who co-founded RE/MAX alongside wife Gail in 1973.

Appearing on Tuesday’s “Good Morning RE/MAX with Nick Bailey,” Liniger offered advice to agents working through today’s challenges.

Here are 4 takeaways from Liniger’s conversation with Bailey, the RE/MAX Chief Customer Officer.

1. Prepare for the bounce back.

Agents who prepare themselves now will see the most success during and after the current crisis, Liniger says. It comes down to planning and execution. He recommends agents look at everything, including where they’ve gotten business in the past, how that’s going to change and what price range is going to be selling.

“We just have to put our nose to the grindstone, put our plan together and work the plan,” he says.

2. Be ready to adjust.

When events like this happen, market conditions differ from region to region, Liniger notes. Agents need to understand how COVID-19 is affecting their markets. He relayed a story of the 2008 housing downturn when a high-producing affiliate, who was used to selling $5 million-$10 million homes, had to adjust her entire approach.

“She said ‘I have to go work foreclosures at $100,000 or I have to get out,'” Liniger says. “You have to look at your own market. Each region is different. It’s time to work.”

3. Quality always rises.

One reason Liniger says RE/MAX has always been able to weather ups and downs is the quality of professionals in the network. He says RE/MAX has always included top producers who are equipped to endure anything.

“RE/MAX agents are the highest quality agents,“ he says. “They are the ones with established businesses and established clientele who want to use them. Our franchisee managers are absolutely the best in the industry. When you combine that with good leadership and good business practices, there’ll be ups and downs in the market, but quality always rises.“

4. Stay calm. Tough times don’t last. Tough agents do.

In more than 50 years Liniger has seen nearly every advancement and development in the industry. He’s seen fads, crazes and trends. Liniger says there is always someone saying they have something new, something better and something that is going to take over the industry – but most of those things never come true.

“What is true is the real estate agent is the key element to any real estate transaction,” he says. “Technology is not going to change that. The harder the market, the more the quality agents shine. … Sometimes, people have to be around long enough to fail. What we’re seeing right now is top producers are going to succeed one way or another.”

Mike Dawson, Vice President of Single-Family Affordable Lending Strategy and Policy at Freddie Mac, also appeared on the show to discuss the current state of real estate financing, including mortgage requirements and options available to homebuyers and owners.

“Good Morning RE/MAX” debuts via Facebook Live every Tuesday at 11 a.m. ET on the “We Are RE/MAX” Facebook page. The 30-minute show features Bailey’s insights along with conversations with guests from real estate, technology and related industries. Anyone can view the video, either live or at their convenience.

Each Thursday at 10 a.m. ET, RE/MAX CEO Adam Contos covers leadership principles and more on his weekly show, “Mind, Body and Business.” It, too, debuts with a Facebook Live session on We Are RE/MAX and is available for viewing at any time.