Commercial real estate industry leader Damon Conrad is getting close to putting his stamp on REMAX Canada.
Conrad is preparing to launch the REMAX Commercial brand after leading the development and expansion of his former company, Royal LePage Commercial.
REMAX has been providing commercial real estate brokerage services on a relatively large scale for decades, but that side of the company has an extremely low profile compared to the much better known residential business. Since REMAX operates under a franchising model, Conrad’s primary objectives are to establish the REMAX Commercial brand and elevate the service platform.
“We’re still in the process of structuring what it’s going to look like to launch something more formalized,” said Conrad in an interview with Connect. “But we see significant opportunity to expand and elevate the commercial real estate here at REMAX Canada, primarily by connecting the network more efficiently and making sure that people are aligned and have a stronger collaboration and a clear identity as to what the commercial platform will look like in Canada going forward.
“The goal for us really is going to be to create a network of high-performing professionals that are connected nationally. National exposure with local expertise. So, deep roots in their local markets as it was with my last brand remit.”
The REMAX Commercial brand is expected to launch later in late April or May. Conrad is looking to capitalize on the strong REMAX label and the company’s established, but underexposed, commercial real estate activities. Since the REMAX brand dominates in secondary and tertiary markets, Conrad is looking to do the same with the REMAX Commercial label.
“We’re going to ensure that anywhere there’s a Canadian business, there’s a REMAX commercial advisor,” he said.
Based in Toronto, Conrad joined REMAX in November and has been busy with behind-the-scenes endeavours designed to help the company meet its commercial release estate advisory aims.
“My role right now is really to look at how we want to relaunch and structure the national REMAX commercial program,” he said.
As a franchisor, REMAX leaves recruitment primarily to its franchisees and broker-owners. The latter, he said, are actively recruiting commercial agents, advisors and practitioners.
“So, from coast to coast, our commercial advisors are going to be able to service the entire country,” he said.
Conrad and REMAX President Don Kottick view the addition of 17 Ontario offices and 1,200 brokers from Royal LePage and recent opening of REMAX Commercial Excel in Edmonton as good starts to the expansion of the company’s CRE aims.
The Ontario additions resulted after Richmond Hill, Ont.-based Your Community Realty and Pickering, Ont.-headquartered Connect Realty, led by Vivian Risi, daughter Michelle Risi and son Justin Risi, adopted the REMAX label.
“One of the things that I think that created was a lot of momentum for REMAX nationally, but also internationally as well,” said Kottick.
REMAX Commercial Excel is a dedicated commercial brokerage created through the expansion of Edmonton-based franchise REMAX Excellence.
Kottick said he recruited Conrad specifically to grow the commercial business nationally.
“We have some strongholds,” said Kottick. “We’re in Edmonton, in Vancouver, in Halifax, and some sprinklings in the [Greater Toronto Area], but we haven’t had a consolidated commercial presence,” he said. “And, what I wanted to do was bring in a leader that could help us create that value proposition that would attract realtors and more commercial franchises right across the country.”
He believes that the launch of REMAX Commercial could help the company add “a few thousand” realtors.
Residential will always be the backbone of REMAX, according to Kotick. But with Conrad at the helm, he believes that REMAX can become a dominant player in the mid-market CRE sector.
Pictured: Damon Conrad
Photo: Courtesy of REMAX