Major win advances REMAX Canada’s goal ‘to be No. 1 everywhere’ 

As U.S. home sales have lagged in recent years, several major brokerages have turned to international growth as a way to add revenue streams and offset slower domestic activity. 

And REMAX, which has struggled to grow revenue, is now making one of its biggest international bets yet: The global franchisor pulled off the largest brokerage conversion in its history with the addition of two Toronto-area firms representing more than 1,200 agents and $3 billion in annual sales volume, the company announced this week.

The family-owned brokerages — formerly affiliated with Royal LePage — are now doing business as REMAX Your Community Realty and REMAX Connect Realty. All but one of their 17 offices are located in the greater Toronto area, and leadership remains unchanged, with co-owners Vivian Risi, Michelle Risi and Justin Risi continuing to run the operation, REMAX indicated. 

A notable loss for Canada's other dominant player

The move marks a high-profile departure from one of REMAX's biggest competitors in Canada. Royal LePage, part of the Bridgmarq family of companies, is one of the country's largest real estate brands by agent count, and Your Community Realty was its largest franchise, according to Real Estate Magazine. 

Bridgmarq and Royal LePage President Phil Soper posted a video message to Royal LePage agents following the announcement, according to multiple sources, warning them that they would be hearing "a lot of noise and a lot of disinformation" but to avoid buying in to messages of "false urgency," Real Estate Magazine reported on Jan. 15. The video appears to have been deleted, with the link now returning an error message. 

REMAX is 'on the offensive'

The win represents a "historic milestone," RE/MAX Holdings Chief Growth Officer Chris Lim — who joined the company a year ago with a focus on U.S. franchise growth — wrote on LinkedIn, adding that it "strengthens the network in a meaningful way." Travis Saxton, EVP of strategy for REMAX, was even more direct in his assessment of the move: "The industry is on notice," he posted. "This is for real. We are on the offensive and will grow this amazing brand."

The company ultimately wants to lead every segment in Canada, REMAX Canada President Don Kottick told Real Estate News. He discussed the company's ambitious growth goals and why this particular affiliation represents the importance that "flight to quality" still plays in brokerage conversions. 

Kottick, who stepped into his role just nine months ago, shared his thoughts on why the deal matters, how the Canadian brokerage landscape is evolving and where REMAX sees opportunity next. This Q&A has been edited for length and clarity.

Why is this conversion strategically important for REMAX?

It's multi-pronged. Vivian, Michelle, and Justin Risi are extremely well regarded in the Canadian real estate industry, and Vivian in particular has been a high-profile industry leader for decades.

It also comes down to scale and performance. Across every price category, we lead in unit sales and have the highest-producing agents. I think that was appealing to the Risi group — they're coming into an organization that's number one on every front, including brand awareness.

It's also significant because they came from a major competitor. Royal LePage remains the No. 2 brand in Canada. And there are a number of different reasons why it benefits us — all three of them are very high-profile people, and they do approximately $3 billion in sales right now.

How much did trust and prior relationships factor into the deal?

They were critical. This never would have happened without a high level of trust. I've been in the business a long time, and so has our head of franchise sales, Mark Lindsey. We've always prided ourselves on integrity and being fair, and the Risi group knew that.

They did due diligence on us. They trusted Mark, and we had a long history together. We showed them what the company was working on, the quality of the people and where we're going. Once they met the global leadership team and the Canadian team we had assembled, they decided to join us.

What does this deal say about how the competitive landscape in Canada is changing?

The market is very polarized. On one end, you have higher-quality, full-service brokerages. On the other end, you have fee-based companies with very little support.

We're also seeing a declining Realtor population across the country. Enrollment in associations and boards is dropping quite substantially. When times are tough, part-time agents leave the business. The Realtors who remain tend to be professionals and full-time agents. They're looking for strong brands, productivity and support. There's definitely a flight to quality.

What's your view on the cloud-based brokerages that have grown quickly in recent years?

I think, to be honest with you, some of them kind of had their heyday. There's definitely a push now back to more traditional offices. People want a brokerage that has strong management, and there is something about having a physical location.

If you look at the numbers, some of those companies — like eXp — they have high attrition rates, and they're also losing top people. In Canada, compensation plan changes didn't go over very well, and a lot of agents weren't happy, so they're leaving. We're starting to see some exodus.

With brokerage consolidation accelerating, particularly in the US, do you see opportunity for REMAX?

What's happened is we've had a few quarters of positive agent growth in the U.S., and there's a lot going on right now with consolidation — particularly with what's happening at Compass and the amalgamations under one brand. (Editor's note: REMAX earnings reports show declining U.S. agent counts over the past several quarters.)

A lot of people are questioning whether they want to be part of the behemoth. From a recruitment perspective, that creates an opportunity for brands that sit outside of the big Compass family. I think we'll continue to see that, whether it's individual agents or even brands that decide they don't want to be under that umbrella.

At the same time, Realtors are entrepreneurs by nature. Some people will be comfortable in large organizations, but many don't like being put in a box. It really depends on how forceful the parent company is in implementing structures and strategies. Some agents will wait and see, and some will move early. There are a lot of discussions going on right now.

What does success look like for REMAX Canada over the next year or two?

We want to be number one in every single market. We're number one nationally, but there are still a few markets where we're two or three, and we want to be number one everywhere.

We're also focused on finding new ways for our broker/owners to make money, especially if there's continued shrinkage in the agent population. We're looking at tools, services, strategic alliances and revenue-share opportunities to help brokers diversify revenue. That's where we see opportunity going forward.

We anticipate growth in the U.S., growth in Canada, and we're definitely focused on growing internationally. All three areas should start to see growth in 2026.