MADISON, N.J., Jan. 7, 2019 /PRNewswire/ — Century 21 Real Estate LLC, a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), today announced leadership changes driven by the decision of President and Chief Executive Officer Nick Bailey to step down, effective January 11, 2019. Real Estate veteran and current Century 21 Real Estate Chief Growth Officer Michael Miedler has been named President and Chief Executive Officer for the iconic global real estate brand. To ensure a smooth transition, Bailey will serve as an advisor to the company until March 1, 2019.
"We are grateful for the unique mix of experience and industry insights that Nick brought to Century 21 Real Estate during his leadership," said John Peyton, president and chief executive officer of Realogy Franchise Group LLC. "I would like to thank Nick for his vision and tenacity, which have strongly positioned the CENTURY 21® brand as well as our brokers and agents for the future."
"I have had an amazing journey within this industry, and I am so proud of the countless ‘thank yous’ I have received for my focus on growth, technology, C21 Gives and the bold and successful rebrand of the CENTURY 21 brand, which have led to an overall excitement that ultimately helped more real estate professionals realize their potential and families achieve their dreams," said Bailey. "After much consideration, my wife and I, along with our two little guys, made the decision that Colorado is our home for not only our young family but also for work."
"We are fortunate to have a solid bench of talent within Century 21 Real Estate," continued Peyton. "And so, we didn’t have to look far to find an outstanding leader in Michael, who with his strong focus on growth has the right background and experience to build on the momentum of the CENTURY 21 brand."
Miedler has more than 20 years of residential and commercial real estate experience, nearly all of it with Century 21 Real Estate. Most notably in 2012, Miedler assumed the position of Senior Vice President of Century 21 Real Estate where he oversaw the franchise sales team, brand development and market share strategy in the U.S., advising new and existing real estate businesses on growth strategies, business planning and transaction structuring. In March 2018, Miedler was promoted to Century 21 Real Estate Chief Growth Officer. In this expanded role, he continued to manage the franchise sales team and lent his expertise to capturing share in emerging and diverse markets. His relentless contributions to the brand throughout his tenure have often become featured milestones in the CENTURY 21 timeline, having set – and broken – records, such as achieving a three-fold increase in the average annual franchise sales generated since 20141 and closing some of the largest deals in the history of the brand.
"We are intensely focused on the growth of Century 21 Real Estate," said Miedler. "The team is ready to kick our efforts into high gear as we continue to fulfill our mission and show industry professionals and consumers the value of C21® brand. I’ve had the opportunity to work with this great brand from different sides of the business, and I’m excited to be taking the lead during such an exciting time in our journey as the power of the CENTURY 21 brand unfolds."
Miedler and the entire team are poised to harness the power of Century 21 Real Estate. The past three years have marked the highest years for franchise sales since 20062, and the global footprint has also continued to expand with 2018 seeing office count up year-over-year by approximately 18%. With this substantial reach and fundamental shift within the brand, the industry has also taken notice. In 2018, Century 21 Real Estate was named the most recognized name in real estate for the 20th consecutive year in a study conducted by Millward Brown, a leading global market research organization, and was awarded the prestigious Inman Innovation Award in Marketing for its new brand identity.
About Century 21 Real Estate LLC
The approximately 127,000 independent sales professionals in approximately 9,400 offices spanning 80 countries and territories in the CENTURY 21 System live their mission everyday: to defy mediocrity and deliver extraordinary experiences. By consistently chasing excellence, giving 121% and always elevating, the CENTURY 21 brand is helping its affiliated brokers/agents to be the first choice for real estate consumers and industry professionals worldwide. Century 21 Real Estate has numerous websites to help answer specific consumer needs. They are century21.com, century21.com/global, century21.com/commercial, century21.com/finehomes, century21.com/farmandranch and century21.com/espanol. Century 21 Real Estate LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.
1 Based on average annual franchise sales generated during the 2015-2018 period versus the 2011-2014 period.
2 Based upon the gross commission income generated by the franchisees in the 12-month period prior to affiliation.
© 2018 Century 21 Real Estate LLC. All Rights Reserved. CENTURY 21® and the CENTURY 21 Logo are registered service marks owned by Century 21 Real Estate LLC. Century 21 Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.
Investor Relations Contacts:
Peter Mosca, Century 21 Real Estate LLC
Trey Sarten, Realogy
SOURCE Century 21 Real Estate LLC