Expansions and conversions

New growth at Re/Max Capital Diamond Realty

Re/Max Canada has expanded its presence in Windsor-Essex County with the addition of Paul Germanese and his AW4U – The Real Estate Group to Re/Max Capital Diamond Realty.

The group of 10 professionals joins from Royal LePage, where they established a reputation over more than a decade for serving buyers and sellers in the local market.

Albert Kantarjian, broker/owner of Re/Max Capital Diamond Realty, said the move reflects shared priorities between the brokerage and the team.

“We are absolutely thrilled to welcome Paul and his team. This partnership is built on shared values, a passion for delivering outstanding service, and a vision for continued growth.”

Don Kottick, president of Re/Max Canada, welcomed the addition. 

“Congratulations to Re/Max Capital Diamond Realty. We look forward to seeing them thrive and expand their impact in the Windsor-Essex community.”

Ottawa group returns to Re/Max

The Inspire Team of Ottawa, led by Rahim and Eda Rasooli, has officially returned to Re/Max, joining Re/Max Prime Properties.

The Rasoolis said their decision was guided by the brand’s global recognition and strong network, which they believe will support their team’s continued growth.

“We’re thrilled to welcome Rahim and Eda Rasooli and their incredible team back to Re/Max,” said Asif Khan, broker/owner of Re/Max Prime Properties. “With their deep understanding of the Ottawa region, they are a valuable addition to our growing network.”

Re/Max Canada president Don Kottick called the move “a testament to the power of the Re/Max brand.”

Royal LePage adds Our Neighbourhood Realty to Ontario network

Royal LePage recently announced it’s expanding in Ontario with the addition of Our Neighbourhood Realty.

The brokerage, formerly independent, is led by Rhonda and Bob Best, along with co-owners Luiz and Paula Lameiras and Gary and Darlene Hibbert. It has more than 140 sales representatives.

The firm serves Durham, Toronto and Northumberland, handling residential, recreational and commercial transactions. The ownership group has more than 30 years of combined experience in the real estate industry.

Leadership moves

Royal LePage COO announced retirement

This week, Royal LePage’s longtime chief operating officer Carolyn Cheng announced she will be retiring from the role later this fall.

Cheng has 25 years experience in the real estate sector. Cheng previously served as a director and then senior vice-president of strategic business services at Royal LePage.

Her resume also includes several years in leadership at Brookfield Real Estate Services. 

Good works

Record result for Slice4Shelter Charity Golf Tournament

Winnipeg’s Royal LePage Prime Real Estate raised more than $27,000 at its 3rd annual Slice4Shelter Charity Golf Tournament in support of the Royal LePage Shelter Foundation.

The record-breaking tournament brings the event’s grand total to $70,500.

All proceeds were directed to Alpha House to fund safe and supportive shelter services for women and children fleeing intimate partner violence.

“Our supporters at Royal LePage Prime Real Estate have a longstanding history of generosity towards families who are bravely walking away from violence and building the safer, happier and more hopeful lives that they deserve,” said Carly Neill, fundraising and communications manager with the Royal LePage Shelter Foundation. “We count ourselves very lucky to have them as part of our charitable family.”

Sutton Centre Realty signs cheque for St. John Ambulance

Over 300 attendees gathered in May for the St. John Ambulance Charity Gala led by Vancouver Realtor Corwin Kwan of Sutton Center Realty headquartered in Burnaby.

The event raised over $23,000 in total with a $5,000 matched donation from The Home Foundation. The proceeds will support critical programs like first aid training, therapy dog visits, and emergency response initiatives.

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The brokerage was the employer of former Realtor Eric Drinkwater, who is charged with $1.9-million in alleged fraud. 

He is the nephew of Hare, who has been a Re/Max realtor for more than 40 years. 

“We can confirm that the independently-owned and operated Re/Max Real Estate (Central) in Calgary, Alberta, has been terminated from the Re/Max network and its owners are no longer affiliated with the Re/Max brand,” said a company statement.  

“The Re/Max network shares and honours a commitment to professionalism, integrity and honesty. The goal is not simply to meet minimum requirements of applicable laws, regulations and professional standards, but to aspire to even higher levels of professionalism.”

RECA’s response

Drinkwater appeared before a disciplinary panel last week of the Real Estate Council of Alberta. He has been suspended since June 2024 and faces a lifetime ban from the regulator.

Hare remains actively licensed.

RECA declined to confirm whether Hare is being investigated.

“RECA has a legislated process that we follow. As the regulator, we must ensure that our actions don’t impact the independent hearing or jeopardize victims’ rights,” it said.

“Until the independent hearing panel issues its decision, we remain limited in what we can say.”

What happened 

The scheme is believed to have occurred between March 2020 and February 2024.

During the RECA hearing, Drinkwater admitted to falsifying bridge loans for non-existent real estate transactions that he claimed were taking place through his former employer, Re/Max Central.

In reality, no such transactions existed, and the documents he provided to support the scheme were forgeries. 

Courtney Zwicker

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.

The post Re/Max severs ties with one of Calgary’s biggest real estate names amid Ponzi scheme controversy appeared first on REM.

Speaking to members at RECO’s Annual General Meeting on Thursday, she said the industry watchdog has “successfully navigated a period of significant change,” and has more to come via its 2024-27 strategic plan. 

“Under the board’s oversight, RECO has continued to evolve, becoming a more modern, responsive, and effective regulator,” she said.

Among the most notable achievements of 2024 was the completion of the majority of action items recommended by the Auditor General, Steinfeld said.

With a refocused mission and vision, RECO is doubling down on transparency, accountability, and trust, she said. 

“In the past two years, I’ve had the opportunity to view RECO’s work from a unique vantage point, one that has deepened my appreciation for the complexity, responsibility and impact of our role as a regulator.”

Fraction of members in attendance

In the Q&A portion, one member asked what would be done to encourage AGM participation.

Board member election results showed that 477 of 1,361 electors cast a vote during the meeting. The organization has more than 110,000 registrants who could have attended and voted.

“We certainly value the participation of as many registrants as we can in this formal process,” said interim CEO Brenda Buchanan.

“By holding a virtual AGM we have noticed an increase in the participation rate, allowing members to participate throughout the province.”

Buchanan said the AGM process is reviewed annually to make sure it is fulfilling to its members, and feedback is encouraged. 

RECO touts new tagline

Buchanan said one of the most noticeable accomplishments of 2024 was laying the groundwork for a refreshed approach to communicating its role as a regulator. 

This included adopting an updated mission and vision, and clarifying its commitment to consumer protection with a new tagline: “Pursuing trust in every transaction.”

“This brand evolution supports clearer communication about who we are, what we do and the critical value RECO provides to consumers in Ontario,” said Buchanan.

Goals for the upcoming year

RECO presented its 2025 priorities, which are:

• Advancing consumer protection initiatives
• Modernizing RECO’s technology
• Delivering expanded education options
• Strengthening stateholder engagement 

Board election results

In 2024, as part of changes to its board size and structure, RECO introduced three classes of directors: sector directors (previously referred to as industry directors), ministerial appointees, and non-sector directors.

A vote was held to elect members for three vacant seats. 

Steinfeld received the most votes (283) and will serve for four years, followed by Owen Crampsie (147) who will serve for three years, and Sylvia Kirkwood, who will serve for two years.

Courtney Zwicker

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.

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The meeting kicks off at 10 a.m. EDT with remarks by Stephen Crawford, Ontario’s Minister of Public and Business Service Delivery and Procurement. 

RECO board chair Katie Steinfeld, with interim CEO Brenda Buchanan and registrar Joseph Richer, will give an overview of last year’s financial and operational performance in a presentation of the 2024 Annual Report.

“Serving in this role has reinforced my belief in the critical responsibility RECO holds as a regulator – one that shapes the integrity of our industry and strengthens consumer trust,” said Steinfeld in the report. 

“While my tenure as chair comes to an end, RECO’s work continues, evolving to meet new challenges and opportunities.”

The meeting caps off with a Q&A session.

A balanced budget

The board posted a small surplus this year with total revenue of $27.6 million, despite a 10 per cent decline in registration revenue, according to the annual report.

Registration revenues declined due to the continued effect of the lower fee structure introduced on Mar. 1, 2023. 

Operational revenues are derived from registration fees, other registrant fees, education, and other sources, such as disciplinary fines. 

There were 112,865 individuals registered with RECO at year-end.

Payroll spending up 11%

RECO’s salaries and benefits were the largest costs, representing 63 per cent ($17.1 million) of the total $27.4-million expenses. 

The cost of salaries and benefits increased 11 per cent from 2023, as RECO staffed up for projects such as a registration education program, migration of RECO’s core systems to the cloud, and actioning on Office of the Auditor General recommendations.

RECO also invested in building a regulatory policy team dedicated to conducting research and analysis, and launched a brand repositioning initiative.

Three seats up for grabs

In 2024, as part of changes to its board size and structure, RECO introduced three classes of directors: sector directors (previously referred to as industry directors), ministerial appointees, and non-sector directors.

At the 2025 AGM, there are three vacancies for sector directors.

The following are the candidates:

David Betty

Owen Crampsie

Leonard Howell

Sylvia Kirkwood

Collin Phillip 

Robert Preece 

Katie Steinfeld

Subhir Uppal

The post RECO AGM preview: Everything Ontario Realtors need to know appeared first on REM.

Each month, REM shares brokerage expansions and conversations, leadership appointments, and other key industry moves. Have an announcement to share? Email your news to editor@realestatemagazine.ca by the 26th of each month and don’t forget to include a photo!

Brokerage expansions and mergers

Sutton Group strengthens presence in B.C.

Sutton Group has expanded its footprint in British Columbia with the addition of two new franchises: Sutton Dream Home in Surrey and Sutton Supreme in New Westminster. These offices bring more than 30 Realtors into the Sutton network, strengthening the brand’s presence in two of B.C.’s fastest-growing communities.

“Surrey and New Westminster are dynamic communities with an incredible future,” said Manisha Sharma, owner of Sutton Dream Home and Sutton Supreme. “We’re proud to deepen our commitment to helping more homeowners find their dream properties in these fast-growing regions.”

With this expansion, Sutton Group now supports approximately 400 Realtors in Surrey, B.C. a city projected to exceed one million residents by 2044.

Engel & Völkers expands to Saint-Sauveur, Que.

Luxury real estate brokerage Engel & Völkers has opened Engel & Völkers Saint-Sauveur, bringing its global brand to the heart of the Laurentians. Led by Steven Lafave, alongside senior advisors Louis-Charles Menard and Marc-Andre Pilon, the new shop will serve clients across Saint-Sauveur, Sainte-Adele, Val-David, and other surrounding areas.

“Quebec continues to be a key growth market for Engel & Völkers, and our expansion into Saint-Sauveur reflects the region’s appeal to local and international buyers,” said Stuart Siegel, president and CEO of Engel & Völkers Americas.

Sotheby’s International Realty Canada expands in Muskoka

Sotheby’s International Realty Canada has expanded its presence in Ontario’s cottage country with a new office in Bala, Muskoka, known for its waterfront properties. The office will be led by Justin Edwards, Keith Edwards and Jennifer Meek, Realtors with over 90 years of combined experience in the region.

“As one of Canada’s most sought-after luxury recreational markets, Muskoka represents an exciting growth opportunity for Sotheby’s International Realty Canada,” said Don Kottick, President and CEO.

Blue Door Realty Group joins Property.ca

Toronto-based Blue Door Realty Group has joined Property.ca Inc. Brokerage, adding 15 agents to the growing team. The integration, completed in December 2024, aligns with Property.ca’s strategy of attracting high-performing professionals through its technology-driven platform.

“We are highly selective about the teams we bring into our brokerage, ensuring they align with our culture of professionalism, innovation, and client service,” said Jeff Benoliel, General Manager of Property.ca.

Blue Door Realty was founded in 2017 by Dimitri Kalkounis.

Leadership appointments

Sutton Group appoints Antoni Wisniowski as CTO

Sutton Group has named Antoni Wisniowski as Chief Technology Officer. Sutton Group says Wisniowski will lead the company’s efforts to enhance data transparency and provide cutting-edge technology solutions for buyers, sellers, and industry professionals across Canada.

Beatrice Cosentini joins Sutton Group as regional vice president for Western Canada

On Feb. 18, Sutton Group also announced Beatrice Cosentini is joining the leadership team as regional vice president for Western Canada. According to the company, she brings a wealth of experience in digital transformation and real estate to Sutton from her career in media, as a Realtor, and as a managing broker for some of the province’s largest brokerage offices.

“Real estate is on the verge of a transformation fueled by technology, innovation, and collaboration,” said Cosentini. “My mission is to empower and support agents in delivering greater value to their clients while making a meaningful impact in their communities—shaping our industry’s future and leaving a legacy for generations to come.”

Major commercial real estate deal

Re/Max Nova brokers sale of Dartmouth’s largest hotel

Re/Max Nova has facilitated the sale of the Hampton Inn & Suites by Hilton in Dartmouth Crossing for $43.75-million. The 165-room hotel has been a flagship property in the region since 2009, Re/Max says. The deal, led by Craig Snow, broker/owner, and Brigitte Teleu, commercial Realtor, marks a significant milestone in Halifax’s commercial real estate sector.

“We look forward to seeing how this change in ownership will contribute to the ongoing development and success of the region,” said Teleu.

Re/Max Nova’s Craig Snow and Brigitte Teleu (Re/Max Canada)

Notable mentions

Re/Max Twin City Realty celebrates Sean Lowry’s recognition as a brand manager of the year

Re/Max Twin City Realty is celebrating Sean Lowry, broker/manager, for being named one of Re/Max Canada’s Brand Managers of the Year 2024. Since joining the leadership team a year ago, Lowry has played a pivotal role in strengthening the brokerage’s brand presence, his team says.

The brokerage is proud to highlight this recognition as a reflection of Lowry’s dedication and the collective efforts of the entire leadership team.

Sean Lowry (Re/Max Twin City Realty)

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Natalka Falcomer

Natalka Falcomer is a lawyer, real estate broker and Certified Leasing Officer who started her real estate career in private equity. She created, hosted and co-produced a popular legal call-in show on Rogers TV and founded and recently sold Groundworks, a firm specializing in commercial leasing law. She is currently the Chief Real Estate Officer of Houseful.ca, leading the development and expansion of the company’s personalized home buying and selling experience for the Canadian market. She sits as an advisor on NAR REACH Canada and is the former multi-year board member of the Ontario Trillium Foundation.

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The new location, which opened on Jun. 30, is led by Brenda McKinley, a seasoned broker in the industry. McKinley’s deep connection to Southern Ontario and her diverse professional background, including working with real estate lawyers, accountants involved in real estate investments, and serving as a human resources manager, have equipped her with a wealth of experience and insights into the real estate landscape.

Since entering the real estate sector in 2001, McKinley has garnered accolades as an award-winning agent. Her personal journey and the challenges she faced as a newcomer have fueled her dedication to mentoring and guiding her fellow agents, ensuring they receive the necessary support and resources to excel in their careers.

Lisa Gerdes, the COO of Realty World International, expresses her excitement about the company’s expansion into Canada. Gerdes envisions the establishment of Realty World’s first office in Burlington as a gateway to new opportunities in serving the Canadian market and providing invaluable real estate expertise.

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