After 19 years with RE/MAX, Adam Contos is saying goodbye.
The RE/MAX Holdings Chief Executive Officer will maintain his position until March 31, after which RE/MAX board member Stephen Joyce will take over as interim CEO as RE/MAX searches for a permanent replacement. Contos and Joyce will serve as co-CEOs beginning March 1 to ensure a smooth transition, the company said in an announcement Tuesday.
RE/MAX President Nick Bailey and Motto Mortgage President Ward Morrison will now occupy CEO roles alongside their presidential appointments in their respective companies, according to the announcement.
“Serving as CEO of RE/MAX Holdings has been the high point of my nearly 20 years with the company,” Contos said in a statement to Inman. “I am proud of everything we accomplished, especially given the dynamic changes in our industry and society.”
“It has been my sincere pleasure to work with our excellent leadership team and employees, as well as some of the most dedicated, productive and entrepreneurial professionals in the real estate and mortgage industries,” he added. “I thank them for their friendship, support and contributions. I am confident that the future is bright for the company and for our two incredible networks.”
A former law enforcement officer, Contos began his career at RE/MAX in 2003 as an independent contractor presenting his S.A.F.E.R. (Safety Awareness For Every Realtor) course to RE/MAX affiliates and other brokerages across North America.
A year later, Contos officially joined RE/MAX as a senior franchise development consultant for the RE/MAX Mountain States Region, which he eventually led as a regional vice president. From there, Contos held several other regional leadership positions before leading RE/MAX’s business development and marketing departments and eventually becoming CEO in 2016. In 2018, Contos became the CEO of RE/MAX Holdings, which includes RE/MAX and Motto Mortgage.
Under Contos’ leadership, RE/MAX’s and Motto Mortgage have consistently posted robust earnings results, with both companies experiencing record revenue growth in the third quarter of 2021. During his tenure, RE/MAX revved up its technology strategy with the launch of data company, G73, and several other agent-focused tools and platforms. Under his watch, the company also purchased the North American regions of the RE/MAX Integra franchise — the largest acquisition in the company’s history.
In a brief interview with Inman, Contos said he’s ready to start the next chapter of his life and concentrate his efforts on other businesses and projects, which may include a follow-up to his first book, ‘Start with a Win.’ “I’ve been with RE/MAX almost two decades and it’s been quite an amazing ride,” he said. “It’s a very entrepreneurial company — we have some of the greatest entrepreneurs on the planet in this organization and that [entrepreneurial spirit] is in my blood as well.”
“I started a couple of companies before I came to RE/MAX, and I’ve decided it’s time for me to continue my entrepreneurial endeavors,” he added. “I just wrote a book, and I love helping business leaders create alignment in their organizations and build a greater stronger leadership group, and that’s truly what I like doing. I’m going to probably do a little work with Dave and Gail [Liniger] too.”
RE/MAX Founder and RE/MAX Holdings Board Chairman Dave Liniger thanked Contos for his work over the years, saying the CEO’s “leadership and commitment” to the company has “driven our success and established a strong foundation for our continued growth.”
“The company posted record results for the third quarter, which we believe is a strong affirmation of our strategy and the recent investments we have made to diversify and expand our business,” he said of RE/MAX’s future. “This performance and the growth opportunities we see ahead give us confidence in our future.”
Liniger also shared his confidence in Joyce, who will oversee RE/MAX Holdings operations as the company enlists an independent executive search firm to find a permanent replacement. “We asked Steve to join our Board nearly two years ago because we were drawn to his extensive track record of success and growth as CEO of publicly traded, global franchisors,” he said. “His contributions to our Board and company have been significant.”
Joyce is a restaurant and hospitality industry veteran who’s held executive positions at Dine Brands Global, Choice Hotels International and Marriott International. The University of Virginia graduate has also served on several boards for the International Franchise Association, the Service Source Foundation and the Culinary Institute of America.
“I am honored to work alongside the RE/MAX Holdings management team and Board as we build on our strengths and advance our industry leadership positions,” Joyce said in a written statement. “The real estate and mortgage sectors continue to experience tremendous change, but what remains constant is the unique and strong value proposition our Company presents for productive agents, loan originators and franchisees to grow their businesses.”
“We are proud to play such a critical role in their success,” he added.
With Bailey and Morrison now occupying CEO roles in their respective companies, the company’s array of talented executives will remain in the driver’s seat, Contos said when asked about the future.
“I’ve built a huge number of amazing relationships over the years with so many people in this industry and particularly in the RE/MAX network,” he said. “I just encourage them to never settle, continue to grow their businesses and continue to help their communities and do great things for themselves and their loved ones.”
He added, “That’s really why you’re an entrepreneur — it’s so that nobody can put a limit on your capabilities. I encourage them to look over the horizon and keep finding new places to end up with their success.”