Today, Re/Max announced its company president, Amy Lessinger, has resigned. Her last day will be Friday, January 17, 2025. Lessinger has been in the role since February 2024.

In a note to Re/Max affiliates, Erik Carlson, CEO of Re/Max Holdings Inc., said the company has initiated a search for its next president and that it appreciates Lessinger’s efforts during her time, along with her contributions in previous roles.

Photo: news.remax.com

The regulator for Ontario’s real estate industry is preparing for a major leadership change. Michael Beard, CEO of the Real Estate Council of Ontario (RECO), is announcing his retirement effective February 2025. 

Beard, who took the helm in 2017, reflects on his tenure at RECO in a press release, saying, “We have advocated for and implemented a significant regulatory enhancement to the benefit of consumers and the industry, increased our enforcement capacity, found many cost and other efficiencies, and introduced a meaningful 30 per cent fee reduction for registrants that will remain in place for many years to come.” 

Beard’s legacy 

While acknowledging that regulatory work is ongoing, Beard shared his excitement for a new chapter focused on family and travel, “I am looking forward to starting a new and more family- and travel-focused phase of my life knowing that the people of RECO will continue this important work from a strong foundation.”

Katie Steinfeld, chair of RECO’s Board of Directors, expressed gratitude for Beard’s contributions. “The Board sincerely appreciates Michael’s commitment to improving the real estate services sector for consumers and registrants,” she said. “He leaves an impressive legacy that will guide RECO’s continued progress.”

Auditor general’s report & TRESA

The leadership transition comes as RECO continues efforts to address concerns raised in a 2022 report by Ontario’s auditor general, which highlighted shortcomings in regulatory practices, including delays in investigations and insufficient enforcement of ethics violations. Beard previously acknowledged the report as an opportunity to enhance RECO’s approach, aligning many of the recommendations with its ongoing initiatives.

Under Beard’s leadership, RECO has rolled out phases one and two of the Trust in Real Estate Services Act, replacing the decades-old Real Estate and Business Brokers Act. Phase three is expected to be released by early 2025.

Search for RECO’s new CEO

Chief Operating Officer Brenda Buchanan will step into the role of interim CEO while the Board searches for a permanent successor, with a goal of completion by mid-2025.

After more than a decade at the helm, Anthony Hitt, president and CEO of Engel & Völkers Americas is stepping down. 

The company announced recently that the Hitt is leaving his role on Dec. 31, 2024, to focus on “personal endeavours.” The industry leader started with Engel & Völkers in 2010 as head of real estate in California, before eventually moving into the role of CEO in 2014. 

“Developing and guiding Engel & Völkers in the Americas has been a true privilege and one of my greatest accomplishments,” Hitt said in a press release. “Now, I feel it’s time to step back, leaving the company in strong hands as I focus on personal interests. I will always be a friend to Engel & Völkers and look forward to watching its continued growth and success with great pride to have been part of it.”

Stuart Siegel, the brand’s Americas chief strategy officer, will temporarily take over as interim CEO while the company searches for a permanent replacement.

Siegel notes Hitt’s legacy will have a lasting impact, “Anthony has always made sure that the Engel & Völkers brand was never about one person, but rather a collective of many.”

UPDATE Feb. 23: View the video announcement Re/Max sent to its agents

Today, Re/Max announced the replacement of president and CEO Nick Bailey. This coincided with the company sharing that its revenue fell for the sixth consecutive quarter: it dropped 5.2 per cent in Q4 of 2023 (earnings were $76.6 million).

This was the result of a slower-than-usual year for the industry thanks to low inventory and high home prices and interest rates. The company reports that for the year, revenue dropped 7.8 per cent from 2022 (to $325.7 million).

Bailey served as president for almost three years and CEO for two of those years. Earlier in his career, he held several positions at Re/Max World Holdings.

The company announced Amy Lessinger would take over from Bailey as president and will report directly to  Erik Carlson, Re/Max Holdings CEO.

Learn more about the leadership change here.

Photo source: news.remax.com