## Re/Max: From a Side Hustle to a Global Real Estate Giant
Re/Max, one of the world’s premier real estate companies, began as a side hustle. The Denver-based company, now operating in over 110 countries with a market value of $265.2 million, started with a single house flip in the late 1960s. The co-founder and chairman, Dave Liniger, shared the company’s fascinating journey and his leadership lessons with CNBC Make It.
In the late 1960s, Liniger was an enlisted airman in the U.S. Air Force and a dropout from Indiana University. To supplement his meager military salary, Liniger worked multiple jobs, including a newspaper route, a gas station, and a movie theater. With his earnings, he purchased a fixer-upper home, restored it, and sold it at a profit. This initial success sparked his interest in real estate.
## The Rise of Re/Max
Liniger reinvested his profits into buying and restoring more properties. After acquiring a real estate license, he discovered a knack for brokering. In 1971, he left the military, relocated to Denver, and worked for various real estate firms before co-founding Re/Max with his soon-to-be wife, Gail. They bootstrapped their startup with a $300,000 debt, and within five years, Re/Max became Colorado’s largest real estate company. Liniger served as CEO for nearly 45 years before stepping down in 2018 and currently serves as the chairman of Re/Max’s board of directors.
## Liniger’s Leadership Lessons
### Sell Other People On Your Optimism
Liniger stresses the importance of optimism in leadership. He believes successful leaders are masters at selling a vision of a hopeful and better future. Despite his initial naivety, Liniger’s optimism steered the company through global recessions.
### Surround Yourself with Positive Influences
Liniger advises associating with individuals who share your goals and desire for success. Drawing from Jim Rohn’s quote, he believes your company can influence your future success. This principle is also echoed by successful executives like Warren Buffett and Bill Gates.
### Supplement Your Weaknesses
Liniger admits not being an organized person and advocates hiring individuals who excel in areas where you lack. He emphasizes the need to delegate tasks you don’t do well or enjoy to others. Liniger also gained insights from his hobbies, like car racing and circumnavigating the globe in a helium balloon, underscoring the importance of teamwork.
### Don’t Beat Yourself Up Over Mistakes
Liniger encourages others not to dwell on their mistakes. He refers to an incident in 2018 when he violated company policy by lending money to his CEO successor, Adam Contos, without proper disclosure. Despite the controversy, Liniger stresses the importance of learning from our mistakes and not letting them tarnish our self-perception. He concludes, “Forgive yourself, because nobody’s perfect.”
Original Story at www.cnbc.com – 2023-09-09 13:00:01
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