BOSTON-Continuing its pattern of growing aggressively by tapping into some of the industry's leading brokerage firms, Avison Young has hired Justin Dziama—formerly of Richards Barry Joyce & Partners—as a VP. Having just debut in the US about three years ago, Avison's appeal to brokers lies largely in its unique management and ownership structure, according to Dziama and Rick Kimball, managing director and principal.

“Avison Young is principally owned,” explains Dziama, “so unlike most firms, where there may be x number of partners, here there are opportunities to become a principal owner.”

After becoming a principal, adds Kimball, there are strong revenue share opportunities. “Following a period of time, principals are granted stock in Avison Young Canada,” the company's main office, “based upon a multiple of their stabilized EBITA at the regional level.”

Additionally, Kimball notes, employees can buy stock options throughout their tenure. “So even my receptionist can be an owner and shareholder of the company,” he says as an example of the company policy.

"Why shouldn't we, as a company, invest in real estate,” he continues, “as long as it doesn't conflict with the interests of our clients? Why shouldn't we offer a chance for our employees to earn commission, invest with the company and position themselves as a shareholder in the company? That's three different opportunities for wealth creation, whereas my competition only offers one or two.”


In terms of the nature of his work, Dziama will continue working in his area of specialty. “Over the last year and a half, I was working with some startups tech companies that have been focused on the Seaport area, either there or they're in Cambridge [a Boston suburb], so this was the chance to continue to focus on the seaport and to help tech startups, where ever they go.” For example, he says, “Thoughtbot, a tech firm I've been working with, has a Boston location and it's growing so I helped them with a San Francisco expansion and now they're doing a Denver expansion.” He also will focus on the Back Bay and financial districts.

Prior to joining Richards Barry Joyce, Dziama—a former professional hockey player— was a member of the business development team at the CoStar Group. A call to Richards Barry Joyce seeking comment was not returned. Dziama is destined to succeed at AY, says Kimball. "Justin spent half of his six year career at Costar which tells me he understands the marketplace. He's a real go-getter and he will be the quintessential example of a Avison Young success story."

Avison grew its New York office earlier this year by adding several brokers, as well as its presence in San Francisco. Its plans are to add staff as necessary, but not just for the sake of more bodies, says Kimball. “We're not looking to create a cannibalistic situation, there's a right number of brokers to capture your fair share of the market."

In the US, the company stands about 1300 employees, he says.

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Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.