For Marc Baskin of Re/Max Real Estate Center, earning the Top Individual in Sales for Georgetown in 2024 was the result of hard work and “a little bit of luck.”
“It’s nice to reach a new level of reward because it’s the feedback that I’m getting better at what I do,” Baskin said. “It feels great to reach that next level, especially if you planned to.”
Re/Max celebrates the achievements of its agents with an annual awards gala to which all agents are invited, regardless of compensation level.
“I remember when I started, the more experienced agents told me to come to the awards even if I didn’t win anything,” Baskin recalls. “I thought it was good to be part of those kinds of celebrations when I first started. It shows that it is possible.”
Different brokers, different prices
Most brokers have their own rewards depending on the number of successful transactions or total gross sales. However, the names of these awards and the criteria for them vary from brokerage to brokerage.
For example, Chairman’s Club at Re/Max recognizes agents who have grossed $500,000 to $749,999 annually. However, that same award at Royal LePage is only given to the top one percent of real estate agents across Canada.
While these awards and their meanings may confuse consumers, they can still provide some legitimacy to those looking for a well-experienced real estate agent to represent them on their next deal.
“The different names of the prizes… I don’t think the customers know exactly what they mean. I don’t think anyone picked me based solely on a prize, but I think it helps,” Baskin said. “It shows a proven track record.”
Against the flow
One real estate agency that has gone against the grain by moving away from rewards completely is Revel Realty.
“Revel has always believed that the motivation to sell a home should be rooted in a genuine intention to serve customers first and foremost,” said Dean Serravalle, Revel Realty’s broker. “From the beginning, we felt that broker awards were not conveying this message to our clients and colleagues, so we set out to completely revolutionize this mindset.”
While celebrating with a physical award is an affirmation of a job well done, Baskin acknowledges that it is not the only measure of success.
“All deals mean more than a reward. Selling a friend’s father’s house for a great price or helping someone buy a great house while they were renting means a lot,” Baskin says. “The awards are great, but when you get great feedback on the work… (that) is more important.”
Relationships > awards
Both Baskin and Serravalle agree that an agent’s greatest achievement, whether rewarded or not, is the relationship built between him and his client.
“A broker’s measure of excellence is the trust they have earned from their clients,” Serravalle said. “We believe that buyers and sellers are looking for professionals who are willing to work hard and with integrity to fulfill their real estate endeavors.”
Instead of creating rewards based on final amounts or commissions, Revel recognizes agents who perform at high levels by encouraging them to become leaders.
“The majority of our top agents … have diversified their business activities through leadership roles within our firm,” Serravalle said. “The intangible rewards translate into tangible sales results… creating a positive work environment that thrives on celebrating the success of everyone we work with.”
Working towards common goals
Moving away from a reward-based mindset can change the narrative from outdoing peers to working together toward common goals.
“Every company is collaborative to some extent,” says Serravalle. “We have simply found much more success and a positive work culture when we help each other achieve our goals and ambitions.”
While real estate agents are the ones who receive these awards, those who keep the real estate machine humming behind the scenes often go unrecognized.
“The award I wish existed is one for the administrators … or the (person who) cleans the carpets or fixes our computers. I know a lot of them work hard and do a good job,” Baskin said. “Maybe even a prize for my wife for the nights I come home late. Lots of good things can be said about the people who work in the company and keep everything running…”
For Baskin, the managers and brokers who assist with their time, knowledge and experience also go a long way.
“I’ve had great agents; I’ve learned so much from each of them. All of these people deserve recognition,” Baskin said. “I’m lucky to have a lot of great people around me.”
Less rewards, less stress?
Baskin cautions agents seeking the satisfaction of earning a new level of compensation not to be too hard on themselves.
“I see new agents and how excited they are about the awards, and that makes me happy for them. If they want it, they’ll get it. I wouldn’t put too much pressure on that,” Baskin said. “The prizes are great to keep you motivated and looking for the next people to help.”
For agents thinking about following in Revel Realty’s footsteps by eliminating incentives, Serravalle says, “Go for it.”
“It didn’t hurt us at all,” Serravalle said. “It certainly lowers the stress level.”
Diana entered the real estate world as a receptionist over ten years ago and worked in various positions in the sector and has since climbed the ladder. She has supported Realtors as a front desk clerk, organized incoming paperwork as a deals manager, and processed closings as an accountant in the corporate office. Working at various brokerages gave her insight into their inner workings, from recruiting, social media marketing, commission payouts and everything in between.
The face of real estate is often portrayed as a confident agent, but the hard-working cogs within the real estate machine – office managers, assistants, receptionists and clerks – are often forgotten. With her real estate and journalistic experience, Diana sheds light on everything that happens behind the scenes, while keeping the machine humming.
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