Nick Bailey,"Barriers to entry are low; barriers to success are high",CCO at ReMax shares his story.
My level of respect had always been high for Nick Bailey, but it grew exponentially when he shared the story of why he left being President of C21. He was commuting between Denver and New Jersey, where the Realogy Headquarters were located every single week. In one of his times when he was home, he took his young son out for lunch just to spend some quality time. During the ride to the restaurant, his son told him that he liked when he worked for his other company more. Nick thought it was because the other company offered much more swag, and he thought he wasn't giving his son enough gifts, but when he asked his son why that was, he simply said, "because I got to see you more." Like a dagger to the heart, Nick flew to New Jersey and rendered his resignation the next day, without having a plan B because the family was always first.
That type of conviction is rare, and while he doesn't recommend leaving a CEO position without having something as a backup, luckily all things worked out and Nick is now the Chief Customer Officer for ReMax, which is the brand where he started his career, so he is enjoying the story reaching a full circle.
As someone who owned his first property when he was still a teenager, real estate was in his blood, and he was the landlord for his friends when he went to college. He realized that it was better to buy a property and have his friends move into the house and pay the mortgage rather than pay for college housing costs.
When I asked Nick about his three pieces of advice for an agent entering the market today, his responses were thoughtful:
1) Get educated -- many agents enter this business without having the expertise in the market they are in. In today's world, where information is so readily available, you have to be able to prove your value by giving a client information they cannot find online.
2) Spend time on money-making activities -- make sure you are doing things that will advance you in making money. Showing homes, talking to a prospective buyer, etc.
3) Surround yourself with the very best -- If you look around at who is around you now, it will show you your future.
"The real estate barriers to entry are very low. All you need is a high school diploma and a pulse, but the barriers to success are high". You have to have the discipline to treat it like a true business. You want to reach the level of being the trusted advisor in the equation for someone who is looking to buy or sell the property.
When talking about the work/life balance, he not only shared the story of why he left C21, but also the fact that his life changed when he learned to say "no". You don't always have to be available every second for every client. When you value your time, so will they. That is probably one of the greatest gifts you will ever receive.
The Bailey family is also amazingly philanthropic. They support any charity having to do with children, but are very involved with the Children's Miracle Network Hospitals.
Nick Bailey is a great leader and mentor in our industry, and I am privileged to be able to know him.