Would you default to "Yes," even when the path forward is not traveled by anyone your age? Our guest for today's episode of Real Estate Sessions quite did. Meet Nick Bailey, the CEO and President of REMAX LLC., who started his real estate career at 18. As a licensed realtor of 26 years (beginning at 21), Nick reveals his professional journey, how he's adapted to changing times, and the timeless lessons to undefeatable and consistent success in the industry.
Nick attributes a large portion of his success to the people he gets to be around. He bought his first property right after high school, locking his first brokerage partnership with the best broker in his area (in just 90 days of getting licensed). Nick established his empire, and his journey has significantly grown from the connections he made. In this episode, he gets into the tiny secrets that have helped him in the journey: including predicting the state of the market at any point (even the pandemic), building a consistent profile despite the fluctuations, doing the statistics, to embracing changes coming about, like the massive adoption of tech for business success.
Speaking of the boom of AI and ML and addressing concerns about whether tech would replace real estate agents, Nick shares why they can't be replaced as long as agents are industry-ready and tech-updated. About the "sudden" boom of IT even in real estate, Nick would add, "The technology wasn't new pre-pandemic; it's just the fact that 99% of agents have never used it. And so for those of us that had used it in working in remote jobs and tech companies, we were very comfortable.." Staying low in the learning curve is always what leads to failure.
Nick also has a ton of advice for fresh agents foraying into real estate – do not forget to tune in!
Success clues from today's episode:
● Surround yourself with great people to succeed in real estate. That's where actual knowledge comes from.
● Any successful agent must know the friction point of their business. And then work on reducing them.
● Be informed to be ahead. If you think tech is a disrupter and decide not to adapt, it could prevent your business from growing. Instead, welcome the change and stay ahead of your competition.
Meet The Guest!
Nick Bailey is the CEO and President of REMAX LLC ( short for Real Estate Maximums), an American international real estate company that operates through a franchise system.
[01:16] Meet Nick Bailey
[02:11] Life in Wyoming and Colorado
[03:29] Buying his first property at 18 and how his love for architecture powered it,
[04:59] Becoming a licensed realtor at 21 years old, building his wealth profile, and being a licensed realtor for 26 years
[06:21] Nick's first brokerage, the discouragement faced in the early years, and being approached by the number one broker in her area to start a brokerage business together in just 90 days of getting licensed
[07:53] The beginning of feeling professional
[08:25] Affiliation with REMAX
[08:52] Career recap: climbing the executive ladders, soul-searching, life in Denver, Colorado, and prioritizing family
[11:44] The Good morning REMAX series and how it provided people with real estate insights and information along with some fun games and banter
[14:27] Predicting the state of the market at any point in time
[17:36] Building consistency despite the market fluctuations – even the eight recessions Nick has seen in his career
[18:31] The "transactions per agent" for REMAX and why it's consistently excellent
[20:26] The importance of tech solutions for large franchises + how agents could adapt tech for their growth
[23:20] The growth of AI and ML and how it impacts the real estate business
[25:11] Children's Miracle Network and why the term is closely connected with REMAX
[27:53] Nick's growth plan for the next five years – focussing on education and understanding the market
[30:48] Nick's advice for new real estate agents just getting started