Re/Max Canada has hired veteran commercial property professional Damon Conrad in Toronto to oversee the growth of its commercial business.
Conrad, who has more than two decades of experience in real estate especially in the nation's largest city, joined Denver-based Re/Max from Royal LePage Commercial, where he served as a vice president and general manager. His prior experience includes breaking into commercial real estate with Cushman & Wakefield, serving as a senior manager of corporate real estate for SNC Lavalin, and as the national director of real estate at Second Cup Canada before joining Royal LePage.
In his new role as vice president of commercial for Re/Max Canada, Conrad will oversee that part of the business while guiding its growth across the country and helping it adopt new technology, the company said.
The timing of his appointment reflects changes in Canada’s real estate market. In a recent report, Re/Max described the current market as one that is “shifting to fundamentals,” indicating that Canadian real estate investors are focusing on basics such as steady rental income, creditworthy tenants and good locations rather than speculative projects. The change is being driven by higher borrowing costs, economic uncertainty and challenges in the office sector.
Conrad's “proven track record in building national platforms and expanding agent networks" will help elevate the firm's commercial offering, Re/Max Canada President Don Kottick said in a statement. Kottick took over as leader of Re/Max Canada in April.
As for Conrad, he said, Re/Max Canada's "momentum and vision driving the brand forward," in addition to its use of artificial intelligence, attracted him to the company.
Conrad's past achievements include winning the NAIOP Real Estate Excellence Award for Office Lease of the Year in the Greater Toronto Area and being named one of the Top 100 Most Influential Voices in Canadian Real Estate by BuzzMedia.
Re/Max was founded in 1973 by Dave and Gail Liniger in Denver. The company is one of the world's largest real estate companies and is publicly traded under Re/Max Holdings. It has over 120,000 agents in nearly 9,000 offices in over 110 countries.