PropertyGuys joins Realtysellers
New Canadian Real Estate Powerhouse Created
PropertyGuys.com Inc. and Realtysellers Real Estate Inc. announced today they have teamed up to bring dramatic changes to Canada`s residential real estate market by together offering unprecedented choice and innovation to consumers. This combination instantly creates one of Canada’s largest real estate enterprises providing thousands of consumers with services to help them buy and sell their homes.
“Canadians are set against paying billions of dollars annually in high commissions to traditional real estate companies. By partnering together, PropertyGuys.com and Realtysellers will be uniquely positioned to deliver the broadest range of professional services at a more reasonable cost. This is a real game changer for how the industry will operate from now on and a huge win for consumers,” said Lawrence Dale, President and CEO of Realtysellers.
The strong duo of PropertyGuys.com, the country`s largest private sale franchise network servicing thousands of home sellers annually, and Dale’s Realtysellers, the leading innovative real estate brokerage group in Canada, ensures that the new partnership has the size, sophistication and financial muscle to fundamentally change how Canadians buy or sell a home.
“We’re thrilled to be working with Realtysellers to bring more Canadians better tools to effectively sell their home,” said Ken LeBlanc, President and CEO of PropertyGuys.com. “This partnership is possible because of recent industry changes that Lawrence pursued for years. Together we can now satisfy the underserved consumer demand for innovation, change and lower fees. This new union will give our current and future customers access to brokerage services that were previously off limits.”
For over a decade, Dale has been a crusader of consumer choice in the real estate industry, challenging the industry`s restrictive practices on innovation. Dale’s persistence resulted in the Competition Bureau’s formal intervention that will finally eliminate the alleged unlawful anti- competitive practices for good. The changes now allow real estate brokers to charge a flat fee for individual services, such as a simple mere posting of a property for sale on REALTOR.ca. The Competition Bureau is continuing with its efforts to force additional changes to the industry to eliminate restrictions on how property information can be delivered to customers.
“The Competition Bureau’s actions pave the way for PropertyGuys.com and Realtysellers to come together,” Dale added. “This is the type of deal that consumers want and traditional agents fear. We’re excited to build a real estate powerhouse with PropertyGuys.com to give Canadians a better and more cost effective way to buy and sell their homes.”
PropertyGuys.com and Realtysellers share a common goal of breaking with the practices of traditional high fee real estate agents by providing an innovative, technologically advanced and cost competitive choice for Canadians. PropertyGuys.com and Realtysellers will operate as partners under their own brands, pooling their resources and services for consumers.
“Real innovation in this archaic and outdated industry is long overdue,” said Walter Melanson, Director of Partnerships at PropertyGuys.com. “This partnership will put home buyers and sellers in the driver’s seat by creating a new range of services and fee options that will let them keep more of their hard earned investment.”
Initially Realtysellers will manage and provide the brokerage services for the PropertyGuys.com Mere Posting Program and streamline how PropertyGuys.com customers place their property posting on REALTOR.ca. Going forward, the partnership will have a unique platform for offering a comprehensive suite of low cost and integrated brokerage and non-brokerage services and options to consumers.
While financial terms of the arrangement remained confidential, Leblanc and Dale did confirm that Dale’s group, which includes Toronto businessman Mark Litwin, has become part of the ownership group of PropertyGuys.com and that Dale has become a Director of PropertyGuys.com.
PropertyGuys.com is Canada’s largest and fastest growing private sale franchise network. It has 106 locally-owned franchise locations to assist home buyers in more than 600 communities across Canada and helps tens of thousands of Canadians each year.
About Realtysellers Real Estate Inc.
Realtysellers is Canada’s most innovative real estate brokerage group. Realtysellers offers innovative programs to help consumers make buying and selling a home a positive and financially rewarding experience. Realtysellers is a member of the Canadian Real Estate Association.
Realtysellers has re-entered the Toronto area real estate market under the name Realtysellers Real Estate Inc., offering consumers a number of discounted real estate services, including an option to post listings on MLS for free. One of the firm’s founders, Toronto lawyer Lawrence Dale, announced the restructured company’s re-entry in November, stating that the Consent Agreement signed between CREA and the Competition Bureau now makes it possible for his business model to succeed.
For consumers wanting to sell their homes with the assistance of Realtysellers, the firm offers a listing fee of 0.5 per cent – the consumers decide what commission to offer to the buyer’s agent. For homebuyers, Realtysellers has what it calls a “buyer bonus” equal to 50 per cent of the first $25,000 in fees and a 100-per-cent rebate on the remainder, up to 75 per cent of Realtysellers’ fees.
The original Realtysellers – operating under the name Realtysellers (Ontario) Ltd. – was one of the Canadian real estate industry’s better known discount brokerages. Launched by Dale in 2000, in partnership with former broker Stephan Moranis – who had also served as president of the Toronto Real Estate Board – the firm offered discounted real estate services, including a flat fee program. The company suspended operations in 2006, stating that it could no longer do business under the MLS rules that existed at the time.
Dale and Moranis subsequently filed a number of lawsuits against the Toronto Real Estate Board (TREB) and CREA. Two of the lawsuits against TREB are still outstanding.
During the recent dispute between CREA and the Competition Bureau over MLS access, Dale applied unsuccessfully for intervenor status in support of the bureau’s allegations that CREA’s MLS access rules were anti-competitive. The commissioner of competition included some of Dale’s information in her filings with the tribunal. That dispute was settled out of court in October, when CREA’s membership ratified a Consent Agreement between the association and the commissioner. Dale has since publicly commented that he expects to see further action against organized real estate pursued by the commissioner.
While Dale remains one of the key people behind the new Realtysellers, Moranis is not involved in the new venture, having rejoined Prudential Sadie Moranis Realty to help build up the business founded by his late mother. Real estate industry veteran Allan Spivak is broker of record for the new Realtysellers; Spivak was one of the brokers with the original Realtysellers firm.
As with the former Realtysellers business model, Dale says the new venture is consumer focused. “We’re trying to give a group of consumers who want something, what they haven’t been able to get,” Dale says. “The vast majority of consumers today are going to do it the traditional way – no question. But what you now have is an option in between.”
As for offering to post listings on MLS for free, Dale says he isn’t doing this for charity. “If they do require the services of an agent, or a brokerage to help them – if they decide ‘this isn’t for me, I want to get some help’ – our hope is that they will retain us on our half a point program, where we’ll do everything for you,” he says. “Most sellers are looking to buy as well – again, I’m in front of you and want the opportunity that, if you want to buy, you’ll use us.”
Dale also says that the earlier Realtysellers business model wasn’t a money-losing venture, but that it couldn’t operate successfully under the former MLS access rules. “We got out of it the last time because the playing field was such that these scoundrels can pass rules to put me out of business at any time. Now they can’t – it’s crystal clear,” he says.
Realtysellers won’t have a bricks and mortar office for consumers to visit and Dale isn’t specifying how many people are now working for the new Realtysellers, or will be working for the company in future. He does say the company will be using a network of brokers and agents.
“We have lined up a large number of agents who are going to be providing services for us – those agents are affiliated with associated companies, so it’s not a referral network but it is a network. We also have agents with traditional firms who want to provide their services to us, all under our supervision.”
Dale admits that his business model is “still a work in progress…but I’m back.”
Source: By Kathy Bevan as published in REMonline.
List on Toronto MLS for Free
Lawrence Dale and Realtysellers Real Estate Inc. enter real estate brokerage market with Free on MLS offer
For almost a decade, Toronto lawyer and businessman Lawrence Dale has been embroiled in a struggle to bring innovative and affordable real estate agency and marketing services to homeowners. After years of persistence, Mr. Dale finally persuaded the Competition Bureau to take action which resulted in a Consent Agreement being filed with the Competition Tribunal earlier this week.
With the industry finally open for business for lower cost innovative models, Mr. Dale is re-entering the real estate marketplace as founder of Realtysellers Real Estate Inc. Realtysellers Real Estate Inc. is a licensed real estate brokerage in the Province of Ontario and is a member in good standing of the Toronto Real Estate Board.
Mr. Dale has assembled an experienced team for his new venture including a new investment group from his previous real estate ventures which have included the purchase of SkyDome in 1999, Realtysellers (Ontario) Limited which was forced out of business by industry restrictions in 2006/2007 (which is unrelated to Realtysellers Real Estate Inc.) and his involvement in the purchase of an 80% interest in Chestnut Park Real Estate in 2007.
Realtysellers Real Estate Inc. will initially be offering programs for sellers and buyers in the Greater Toronto Area.
For the first time ever in Canada, Realtysellers Real Estate Inc. will list a seller's property on the Multiple Listing System (MLS) for free. "If the seller does not want any additional services other than to list on the MLS, we will do it for free" Mr. Dale stated. "If a sellers wants our professional assistance throughout the process, we do provide a more traditional service for the low fee of 0.5%".
Buyer's will receive a buyer's bonus equal to up to 75% of the fee received. "If we receive a fee of $50,000, our buyer would be sent a cheque for $37,500 the day we receive our fee." Dale stated.
Dale commented that his new venture is a work in progress. "We are committed to providing real estate consumers with the services they want at exceptional value. The programs that we will offer will continue to develop over time to fulfill the ever changing consumer objectives. We are committed to be at the forefront of innovative real estate brokerage".
About Realtysellers Real Estate Inc.
Realtysellers Real Estate Inc. is a licensed real estate brokerage in the Province of Ontario and member in good standing with the Toronto Real Estate and Canadian Real Estate Association. Realtysellers Real Estate Inc. takes advantage of developments in technology and its team's experience in the industry to make the process of buying and selling a home a better and more cost effective experience. Services include a free on MLS posting program for sellers who do not want any other services to programs that offer complete assistance for buyers and sellers looking for help throughout the entire process but who are also wanting to receive better value.
See the Realtysellers website located at realtysellers.ca