Left to right: Justin Risi, Vivian Risi, Michelle Risi (courtesy Remax Canada)
Remax Canada is confirming the largest conversion in the brand’s history is set to take place with Ontario’s Royal LePage Your Community Realty and Connect Realty.
Your Community Realty and Connect Realty, led by Vivian Risi and her children Michelle and Justin Risi, is comprised of 17 offices and 1,200 agents, according to a Remax announcement released Thursday.
“We are making the move to Remax Canada to support our agents and provide them with global reach, tools and services needed now and in the future,” said Vivian Risi, founder and broker/owner, in a statement. “We see that our agents need more — an international network, innovative tools and expanded services. Remax can provide that.”
Soper makes plea to agents
On Wednesday night, Royal LePage president and CEO Phil Soper sent a direct message on YouTube to Your Community Realty and Connect Realty agents.
He emphasized the decision was made without agent consultation, and that Realtors are not required to follow the brokerage’s move.
Soper said Royal LePage brokerages are positioned to support agents affected by the change.
Why it matters
In a market already defined by thinning margins and intense competition, the mass conversion of a major real estate brokerage to a rival brand could be viewed as a significant setback.
The move comes at a time when brokerages are fighting aggressively to retain relevance, market share, and, perhaps most critically, agents.
Risi added that the transition is ultimately about expanding opportunities for agents.
“Our responsibility is to position our agents to win in any market. This decision does exactly that,” she said.
Risi cites opportunities for business diversification
The Risi leadership team cited the desire for global brand recognition and international networking, and a strong commercial and luxury presence.
They also noted that while their agents primarily serve clients in Canada, they increasingly see opportunities tied to international buyers and investors.
“Our agents are working with clients who have global interests and properties, and we want to give them every advantage to compete,” said Risi.
The Risi family operation was founded in 1994.
Top performer sticking with Royal LePage
Shawn Zigelstein’s Team Zold has long been a part of Your Community Realty. As of Thursday, the Toronto-area broker was shopping around for a new home for his team to stay under the Royal LePage banner.
“I’ve been with this company now for over 20 years. At one point, it was a very family-oriented business,” he said. “I find, unfortunately, this has become a business decision with potentially not the best interests of the agents at heart.”
Zigelstein, who’s in the top one per cent of Royal LePage performers, said he isn’t happy with the way the conversion news was rolled out.
“I just personally don’t like being forced into a decision. As of about an hour ago, my listings are suddenly Remax listings, and I just don’t believe in that happening in the way that it happened,” he said. “Now, of course, the problem is we’re all scrambling to make decisions.”
Zigelstein said he’s made too many strong connections at Royal LePage to walk away. Speaking with REM on Thursday afternoon, he said he was actively having conversations with brokers of record at Royal LePage to align with, and he will likely make a decision in about a day.
Happy either way
Richmond Hill’s Mike Golshani has been a broker in Vivian Risi’s office for over 20 years. He says he feels neutral about both real estate brands, so he’s content to go with Remax with his longtime colleagues.
“Everybody here feels like family,” he said. “I personally don’t see any problems with movement,” he said, adding he sees some opportunity for growth with Remax’s international presence.
He said agents all have clients who work with them regardless of their affiliation.
“A good company is a good company,” he said.
Courtney Zwicker is a digital reporter and associate editor for REM. Based in Atlantic Canada, she has over a decade of experience covering daily business news.