The Real Deal New York

Century 21’s CEO is stepping down after less than two years

Nick Bailey led the company’s rebranding
January 07, 2019 05:00PM

Nick Bailey and Michael Miedler (Credit: Realogy and Century 21)

Century 21 CEO Nick Bailey, who led the company’s rebranding, is stepping down.

Michael Miedler, the current chief growth officer, will become CEO and president, Inman reported. Bailey, who will stay on until March 1, said in a statement that he and his family have decided to move back to Colorado.

“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,” Bailey said in a statement.

Bailey, formerly at Zillow, took over the CEO role at Century 21 in August 2017. Parent company Realogy said it was not aware of any future plans when asked if Bailey was jumping to franchise rival Re/Max, which is headquartered in Colorado.

Last spring, Century 21 rolled out its “big, bold” rebrand while announcing plans to double its business within five years. At the time, Bailey said the company — which as 128 offices in the New York City metro area — is aiming to hit 832,000 transactions by 2022, up from 417,000 in 2017. The company also refreshed its look, replacing its yellow-and-black logo with a sleeker metallic one.

Miedler, Bailey’s successor, has served as chief growth officer since March 2018 and has worked under the Realogy umbrella since 1998, Inman reported. As chief growth officer, he oversaw the franchise sales team, brand development and market share strategy in the U.S.

“We are intensely focused on the growth of Century 21 Real Estate,” Miedler said in a statement. “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.” [Inman] — Meenal Vamburkar