“Pain is a good teacher … The silver lining is we don’t have any drama.”

This is what Ravi Singh, team leader of Connexus Group at Re/Max (Connexus), had to say about the fallout of his third major health scare since 2006. After he dealt with a colectomy, cancer, gallbladder removal, degenerative liver disease and 13 emergency room visits in a year, Singh’s team quickly learned what matters and has been extremely motivated to achieve greatness—both for themselves and their leader.

“They work really hard. Our numbers are up 27 per cent (in 2024 from 2023),” Singh notes. “They showed up when (I) needed them.”

He feels that anyone can be successful anywhere but, “Sometimes you want to have somebody to high five. You want to feel like these are my people (and) I can’t wait to share good or bad news.”

Indeed, Connexus saw $1.8 million in gross commissions last year. Of course, this and the rest of their success—including consecutive Re/Max Platinum and Diamond Team awards since 2016—result from very intentional efforts.

Habits, rituals and culture

Singh says the main things vital to his team’s success are the culture and core beliefs. “We work on an ‘all hands on deck, everyone wins’ philosophy,” he says.

Connexus agents start with the philosophy of contribution. “Giving starts the receiving process,” Singh says, and his team isn’t there for what’s in it for them. “They’re trying to figure out how to grow through giving. To really understand that is at the core of what we do.”

This “servant leadership” approach creates an optimal platform to understand agents and meet them where they’re at, ensuring their version of success is being navigated, not his. “I’m giving them the best possible platform in terms of tools, resources, mentorship, expertise and business best practices that I can to ensure that success.”

A balanced view of contribution and value plus quantity and scale

Singh notes that agents typically look at quantity and scale, while he looks at contribution and value.

He stresses how important both elements are to success and notes this is where the servant leadership philosophy comes in. “When we serve, the byproduct is kinship and money … It’s about how (we) can make an incredible contribution.”

Consistent processes and practices year-round

Singh holds two regular meetings that he says are crucial success factors, the first being a weekly “jam session.” There are two components to this.

First, the deals pipeline gives agents a “bird’s eye view and fly-on-the-wall perspective” of what others are working on, to learn through experience, something Singh notes is invaluable to all. The second component is a future focus on marketing initiatives that Singh breaks down into process and projects.

Process involves things like buyer and seller appointments, open houses, showings, offers and paperwork.

Projects are assessed to ensure the team is building a healthy pipeline that targets their ideal client or demographic: an “approachable baller” he describes as very well-rounded, with, say, two kids and a nice townhouse in a walkable, urban Toronto community. Recent projects centred around the holidays and included client gifting, events, drop-bys, annual comparative market analyses, real estate reviews and surveys.

The second regular meeting is a 10-minute agent huddle, where team members stay accountable by reviewing, answering and documenting three questions: What are you working on? What did you do? What is your immediate next step?

Singh also holds an annual offsite for yearly planning, and “all hands on deck challenges” about twice a year. These are proactive campaigns for lead generation with high-touch, one-to-one, personal client transactions. “Nobody leaves until it’s done. I give them what I call ‘rocks’ to call, (or) people and initiatives, like introducing the Re/Max Canada Housing Outlook report to 30 people daily.”

An open policy on financials

Singh feels his openness around financials sets his team apart. He says the open-book policy has created incredible transparency and trust, and he’s “very comfortable” with the company’s net operating income of 13.5 per cent because he’s being fair to his agents.

The team leader reports that in 2024, his team of seven earned about $1.8 million in gross commission from 83 transactions and 36 leases, growing by about 15 percent year-over-year.

Agent profile

Singh’s agents have been with him for years, some over a decade, and there’s next to no turnover. They’re very competitive, extroverted high-achievers but, “They have no organization,” he points out with a smile.

This is why Singh hires naturally organized staff who can support the agents with everything from coaching and mentorship, administrative support, listing preparation, database management and programming to increasing lead generation, prospecting or geographic farming and online leads.

Singh’s agents are team-oriented and coachable and don’t need the spotlight. He likens this to a band: “Each band member must play their part … My ideal agents want to succeed but not necessarily do all the parts—(just) be belly-to-belly with clients and thrive in the hot seat.”

Likewise, Singh is intentional about not putting himself in the spotlight. He explains that each team member is their own top producer and could thrive alone. “But the goal is not to create a revolving door of juniors,” he stresses.

Advice for agents

Connexus has a corporate charter with defined principles or beliefs, including being relevant, energetic and fun. Singh believes this last charter quality is paramount. “If you’re not having fun, why are you here? To shuffle through something you dislike? I don’t want that energy around me.”

He also tells anyone looking to improve to remember that success leaves clues and builds off of mentors, colleagues and models. “Don’t reinvent the wheel,” he advises.

Finally, to truly succeed, he says agents must define what success looks like for them, personally. For Singh, it means retiring on the Amalfi Coast surrounded by his grandkids and his team, looking back on 2023.

“I haven’t built a team, I’ve built a family.”

Photo: Connexus Group team

The Greater Toronto Area’s (GTA) luxury housing market experienced a significant upswing in the final quarter of 2024 (Q4), with sales of properties over $3 million increasing by more than 40 per cent compared to the same period in 2023.

According to Re/Max Canada, over 360 freehold and condominium properties sold in Q4, a notable jump from 259 sales during the same timeframe last year.

“The impact of the first and second 50-basis-point rate cuts by the Bank of Canada radiated throughout the GTA in the fourth quarter, jumpstarting demand for high-end properties both within the city and suburbs,” says Re/Max Canada President Christopher Alexander.

“We’ve been expecting a surge in top-tier sales activity as the economic climate and corresponding pause in buying intentions prompted a build-up in pent-up demand. The fourth quarter did not disappoint.”

Record sales in GTA’s luxury real estate

Toronto proper accounted for 53 per cent of luxury sales, with suppressed property values creating opportunities in ultra-luxury price ranges between $5 million and $7.5 million. 

Properties over $5 million saw the most significant growth, with sales jumping nearly 59 per cent year-over-year. The $7.5 million and above category also posted gains, with sales increasing by 41 per cent, while properties over $10 million held steady compared to 2023.

Interestingly, nearly half of all $5 million-plus sales occurred in suburban areas, reflecting a growing preference for luxury homes outside the city core.

Catalysts driving growth

Several factors contributed to the resurgence of the luxury market:

• Lower interest rates. The Bank of Canada’s 100-basis-point reduction in 2024 fueled buyer enthusiasm.
• Stock market gains. Strong performances by the NASDAQ, and S&P 500 and TSX bolstered confidence among affluent investors.
• Easing inflation. Reduced economic pressures encouraged profit-taking, converting financial gains into property investments.

Luxury market outlook for 2025

While inventory challenges persist, rising buyer confidence and robust equity markets set the stage for sustained growth in Toronto’s luxury market. Affluent buyers are moving off the sidelines, and strong demand is anticipated to continue, particularly for single-detached homes.

Additionally, intergenerational wealth transfer and increased interest from international buyers, including affluent Chinese immigrants, are expected to support the high-end market.

Alexander says buyer optimism is growing, thanks to robust equity markets and lower interest rates, along with Canada Mortgage and Housing Corporation extending insurance coverage to $1.5 million for first-time buyers. “The ripple effect is expected to carry through to all price points, including the top end, as younger buyers return to the housing market.”

He also notes the political climate’s evolution from upcoming leadership changes in Canada and the United States should impact the market. However, Alexander remains optimistic.

“With the fundamentals that we are seeing take shape, we’re poised to not only sustain the strong level of luxury activity of 2024 but surpass it in 2025.”

Review the full report.

Today, Re/Max announced its company president, Amy Lessinger, has resigned. Her last day will be Friday, January 17, 2025. Lessinger has been in the role since February 2024.

In a note to Re/Max affiliates, Erik Carlson, CEO of Re/Max Holdings Inc., said the company has initiated a search for its next president and that it appreciates Lessinger’s efforts during her time, along with her contributions in previous roles.

Photo: news.remax.com

To mark 35 years of Real Estate Magazine, we’re sharing articles from past issues. This article appeared in issue #004 in April 1994. It was written by REM’s Founding Editor, Jim Adair.

Re/Max Ontario–Atlantic Canada, led by owners Frank Polzler and Walter Schneider, is taking the Re/Max franchise concept to Europe. In November, the Canadian firm bought master franchise rights for 24 European countries plus Israel. “It’s a consumer market of 390 million people, stacked in an area the size of the northeastern United States, Canada, and Quebec,” says Polzler.

The co-owners are currently marketing regional franchises in 16 Western European countries. They plan to begin marketing the Eastern Block regions in 1998, although Polzler says two groups of investors are already expressing interest in Poland. He says deals are almost complete for regional franchises in Israel, Austria, France, Germany, Greece, and Spain.

The cost of purchasing the master franchise from Re/Max International, based in Denver, was not disclosed. Re/Max International’s chairman of the board, Dave Liniger, told the media that so far it has cost “a couple hundred thousand dollars,” mostly in legal fees, to set up shop in Europe.

Polzler says the price of buying rights for each region is based on the population of that region. Some regions form entire countries, such as Finland, Holland, and Ireland. Other countries with larger populations are divided into several regions (France, for example, has three). “It will take substantial investment to make this thing work,” says Polzler. He says it could cost up to $10 million in total “by the time we are up and running.”

Re/Max is not the first North American real estate franchise to make a move to Europe—Century 21 and Realty World have established European offices. However, the Re/Max Ontario–Atlantic Canada plan is the most ambitious and aggressive expansion attempt.

“It’s exciting, but it is a little scary because of the size of the project,” says Polzler. “I just turned 60, and I feel it will take the next four or five of my working years to get this thing rolling. Synergism in franchising is a very important thing, and if you can’t get rolling relatively quickly the engine will stall, and it will be tough to get going again.”

Polzler will take a hands-on role in the expansion, dividing his time between his Mississauga, Ont. offices and the new European headquarters near Zurich, Switzerland. Re/Max Ontario–Atlantic Canada already has a lot on its plate, controlling sales territory in Ontario, the Maritime provinces, and nine U.S. states (Minnesota, Wisconsin, Indiana, and several in New England).

Altogether, the company has 450 offices and about 6,700 sales reps, making it Re/Max International’s largest sub-franchisor even without Europe. Polzler, who is originally from Austria, says selling real estate in Europe is much different than it is in North America. “About 70 percent of all real estate trades in central Europe are private,” he says.

“From our point of view, the real estate industry there is very backward. There are few real estate organizations and few large brokers. There are no real estate boards. The brokers have some listing exchange information, but the industry itself is not well organized.” He says there’s also a strong mistrust of real estate people, who “have not provided service and integrity.” To combat the negative perception, Re/Max plans to combine a strong code of ethics with heavy marketing programs to educate the public about the advantages of using an agent.

Other key North American concepts to be introduced include training and ongoing educational programs for agents and brokers, a regionalized computer listing system, and management information systems. “We don’t want to ‘North Americanize’ the European marketplace. We want to leave some of the local practices in place but modernize them.”

Major changes to the European community’s economic structure are prompting much more relocation and are opening the door to entrepreneurs, Polzler says. He’s using his experience in Canada as a guide to planning European expansion. He says 20 years ago, about 60 percent of the Quebec real estate market consisted of private sales. Now, he says, that’s dropped to about 25 percent. He also says marketing is critical. “In 1990, Re/Max had a market share in Greater Metropolitan Toronto of about 24 percent, and now we have a share of 32.9 percent. We attribute that to the productivity and quality of our salespeople and our ongoing promotion machine. Everyone pretty well stopped advertising during the recession. We continued our promotion and convinced the public that Re/Max is the premier real estate company.”

Polzler says Re/Max agents across the country are three times more productive than other agents. An average Re/Max agent has about 22 transactions per year, compared to the national average of seven or eight, he says.

He says another reason to expand to Europe now is because the North American marketplace is shrinking. “I think the number of transactions will shrink—just like people are keeping their cars longer, they will also keep their houses longer. The number of deals will shrink, and the number of people chasing this pie will also shrink. Thousands of people have left the industry in the last three or four years, and this will continue. Only the most productive people, using the latest technology in their operation, will succeed in the long term.

“People who can’t cut it will either become assistants to good agents, or will leave the industry. The era of the super-agent is here. Anyone who can’t do at least $70,000 to $100,000 a year will not be around in real estate in the next five or six years.”

The European headquarters in Switzerland will open April 1. Polzler hopes some regional operations will open for business in September or October.

Canada’s real estate market is expected to see rising prices in 2025, driven by growing demand and persistently limited inventory. 

According to Re/Max Canada’s 2025 Housing Market Outlook Report, interest rate cuts and increased consumer confidence are likely to boost sales activity across the country. However, this combination of heightened demand and constrained supply is projected to push the national average residential sale price up by 5 per cent.

“While affordability challenges persist, the sequential interest rate cuts and changes to the mortgage stress test are a much-needed reprieve for those looking to get into the market,” says Christopher Alexander, president of Re/Max Canada.

The report, which surveyed 37 regions across Canada, also predicts sales activity will increase in 33 of those regions, with some areas anticipating growth of up to 25 per cent.

Re/Max agents across the country noted that first-time homebuyers—highlighted as the primary drivers of market activity in 81 per cent of surveyed regions—are poised to benefit most from these conditions.

Shifts in market dynamics and consumer confidence

Canadian consumer sentiment about the housing market remains cautiously optimistic. A Leger survey commissioned by Re/Max revealed that 36 per cent of Canadians expect housing market conditions to improve in 2025, while 73 per cent continue to believe homeownership is still the best investment they can make.

Unsurprisingly, affordability challenges remain top of mind. Nearly half of Canadians believe homeownership is attainable, while 40 per cent are open to relocating to new neighbourhoods to address rising costs. Additionally, the survey found an increasing interest in climate-resilient housing, with 47 per cent of respondents prioritizing properties less likely to be impacted by climate change—a 14 per cent increase from 2024.

Regional market insights: A seller’s market on the horizon

The report projects that 44 per cent of Canadian housing markets will shift to favour sellers in 2025. This trend will be especially pronounced in Western Canada, where residential prices are expected to rise by three to 10 per cent. For example:

• Edmonton: Prices are anticipated to climb by 10 per cent, where Re/Max expects an influx of homebuyers from Calgary who’ve been priced out and looking to Edmonton for an affordable way to enter or invest in the housing market.
• Greater Vancouver Area: A projected price increase of 7 per cent aligns with expected sales growth of up to 20 per cent.

Ontario, the country’s largest housing market, is also forecasted to experience price increases across the province, ranging from 0.1 per cent in Toronto to 10 per cent in Simcoe County. 

Toronto and other urban centers such as Mississauga and Kitchener-Waterloo are expected to see balanced market conditions, while regions like Sudbury and York Region are likely to favour sellers.

In Atlantic Canada, prices are predicted to rise in every surveyed market, with notable increases of 8 per cent in Truro & Colchester, Nova Scotia and St. John’s, Nfld.

Key trends for 2025: Inventory, buyer demographics and affordability

Re/Max brokers and agents identified first-time homebuyers, move-up buyers and downsizing retirees as the leading demographic groups shaping the market in 2025. Demand for smaller, affordable properties such as townhomes and bungalows is expected to dominate, while move-up buyers are looking for larger homes.

Affordability and inventory will continue to pose challenges across many regions, particularly in highly competitive markets like Toronto and Vancouver. 

“The current environment is more encouraging than it has been in the past few years, especially for first-time homebuyers,” Alexander notes. “However, a boost in sales, coupled with limited inventory, almost always leads to rising prices, which is the trend we’re expecting to see materialize in virtually all Canadian housing markets.”  

Photo: CIndy Avis team, courtesy Royal LePage

Former top ReMax agent Cindy Avis has made the move to Royal LePage, joining forces with prominent Realtor George Niblock to form the Niblock Avis Team. 

Avis, previously with ReMax for 26 years, and her team have partnered with Niblock under Royal LePage’s corporately owned brokerage, with a focus on luxury real estate in Oakville, Ont. and surrounding areas. 

Royal LePage’s COO, Karen Yolevski, highlighted the significance of this partnership, stating, “Cindy and George each bring a wealth of knowledge and expertise to the table, having built remarkable reputations in their own right. Together, their combined dedication and professionalism position them to uncover new opportunities in Oakville’s luxury real estate market.”

Avis was recognized as the number one agent with ReMax Aboutetowne, consistently ranking among ReMax’s top-performing teams, while Niblock’s team is in the top 2 per cent nationally at Royal LePage.

Re/Max recently held its annual Activate Conference in Toronto. The company notes that attendees gained valuable insights, built meaningful connections and discovered innovative strategies to elevate their business. It shares several key moments of the event:

Basketball tournament and live auction in support of Children’s Miracle Network

Five basketball teams participated in the tournament, raising $4,000 for the Children’s Miracle Network.

Also, over $110,000 was raised for the organization during the live auction and several other breakout sessions including prize drawings. Donations raised will benefit the 13 Children’s Hospitals across Canada. The event featured CMN patient ambassadors Ava and Cash.

Alyssa Rae Johnson Fund hits $1 million milestone

Bruce Johnson, agent with Re/Max By The Bay Brokerage, and his family were also recognized for reaching the $1 million mark in donations for the Alyssa Rae Johnson Fund, benefitting the SickKids Hospital.

The network raised $165,635 at the conference to help reach this goal. Johnson was also awarded the inaugural Lifetime Achievement Community Care Award for his outstanding fundraising efforts, including his renowned Motorcycle for Miracles campaign.

Canada’s economic outlook: CIBC economist Benjamin Tal

At the event, Tal revealed that the real estate sector is facing its toughest challenge since the 1991 recession due to aggressive interest rate hikes from the Bank of Canada, which have inadvertently increased inflation through higher mortgage payments.

He predicts that interest rates will drop by 50-75 basis points this year, reaching about 2.5 per cent by the end of 2025, supporting a market recovery.

Artificial intelligence decoded

Dr. R. David Edelman, founder and director of Project TENS at MIT and former White House tech advisor, discussed artificial intelligence and its impact on our work and the world. He emphasized that these technologies can “transform our interactions,” and help improve business practices.

Arlene Dickinson: Entrepreneur, on CBC’s Dragons’ Den

Dickinson shared her entrepreneurial journey to becoming a visionary leader and influential figure in Canadian business. Despite facing numerous challenges in life, her vision, dedication and perseverance have been her guiding forces. She highlighted the importance of taking risks on yourself, regardless of fear or the opinions of others.

A new report from Re/Max Canada reveals that condominium inventory has surged across major Canadian cities, as sellers have returned to the market anticipating increased buyer demand in late 2024 and early 2025.

The report, which examined condominium activity in seven key markets from January to August 2024, notes significant growth in condominium listings. Leading the way are Fraser Valley (up 58.7 per cent), Greater Toronto (52.8 per cent), Calgary (52.4 per cent) and Ottawa (44.5 per cent), with more modest gains seen in Edmonton (17.7 per cent), Halifax (8.1 per cent) and Vancouver (7.3 per cent).

Despite the influx of new listings, condominium values have held steady in most markets. Calgary saw a 15 per cent increase in average condominium prices, followed by Edmonton at 4.0 per cent, Ottawa at 2.3 per cent and smaller gains in Vancouver, Fraser Valley and Halifax. Greater Toronto was the only market where prices dipped, down 2.0 per cent year-over-year. 

Sales activity in the condominium sector varied, with Edmonton leading with about a 37 per cent year-over-year increase in sales, marking its best performance in five years. Calgary saw a more modest rise in sales (2.6 per cent). Meanwhile, other markets experienced slower condominium sales as potential buyers continued to wait for more favourable interest rates.

Future outlook: Current lull is ‘the calm before the storm’

“High interest rates and stringent lending policies pummelled first-time buyers in recent years, preventing many from reaching their homeownership goal, despite having to pay record-high rental costs that mirrored mortgage payments,” says Re/Max Canada president, Christopher Alexander. “The current lull is the calm before the storm,” he adds.

Alexander says as of spring next year, pent-up demand should fuel stronger market activity, especially at entry-level price points, as both first-time buyers and investors vie for affordable condominiums once again.

Market dynamics and regional trends

Re/Max found that Edmonton and Calgary remain in a seller’s market, while cities like Vancouver, Ottawa and Halifax have more balanced conditions and are likely to change next year. Toronto, while still experiencing sluggish activity, is expected to turn around quickly once market conditions improve, as prices are believed to have bottomed out.

Even as new listings rise, buyers remain cautious. Early interest rate cuts by the Bank of Canada have not yet spurred significant buyer activity, but with more cuts anticipated, market activity is expected to pick up, particularly among end users seeking affordable condominium options.

“Even in softer markets, hot pockets tend to emerge,” says Alexander. “In the condominium segment we’re seeing a diverse mix among the most in-demand areas, ranging from traditional blue-chip communities to gentrifying up-and-comers, as well as suburban hot spots.”

He explains that condominiums in top recreational areas were among the markets posting stronger sales activity.

In Toronto, midtown neighbourhoods such as Yonge-Eglinton and Forest Hill South saw double-digit sales growth in the first eight months of 2024, as did communities in the city’s west end, including High Park and Roncesvalles. In Vancouver, suburban areas like Port Coquitlam saw a notable 11 per cent increase in apartment sales.

Investors take a step back except in key markets

While end users dominate the current condominium market, Re/Max observed a pullback among investors, particularly in Greater Toronto, where up to 30 per cent of investors have experienced negative cash flow due to rising mortgage carrying costs. Investor confidence is expected to recover as interest rates drop and rental incomes rise, making investment more favourable once again.

In contrast, Edmonton has bucked the trend, attracting investors seeking affordability. With condominium supply outpacing demand, savvy investors have been revitalizing older condominium stock to rent out at premium rates. Out-of-province investors, particularly from Ontario and British Columbia, are capitalizing on Edmonton’s lower costs and development-friendly environment.

Unique opportunity for buyers: ‘Arguably the most favourable climate condo buyers have seen in recent years’

“In many markets, end users are in the driver’s seat right now,” explains Alexander. “While investors are an important part of the purchaser pool, this point in time is a unique opportunity for aspiring condominium buyers who, for a short window of time, will likely see less competition from investors and a better supply of product.”

He notes this is especially true in Toronto and Vancouver, where the impact of monetary policy has hit investor profit margins to a greater extent despite high rent and low vacancy rates. “With values set to rise, this is arguably the most favourable climate condominium buyers have seen in recent years.”

‘Inevitable that further development will see condos become driving force accounting for lion’s share of (future) sales’

As immigration and in-migration between provinces continue to boost demand, condominiums are becoming both an entry point and a “middle step” in Canada’s most expensive markets. While population growth may slow in the short term, Statistics Canada projects that Canada’s population could reach as high as 49 million by 2035, ensuring long-term demand for condominiums.

“The housing mix is evolving very quickly as a result of densification and urbanization. Condominiums now represent the heart of our largest cities, and it’s inevitable that further development will see condominiums become the driving force accounting for the lion’s share of sales in years to come,” says Alexander.

“It’s a physical and cultural shift that Canadians are not only adjusting to but are embracing, as younger generations redefine urban neighbourhoods, sparking demand for vibrant and robust amenities, infusing new life in Canada’s urban cores in the process.”

Review the full report, including regional highlights.