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Mortgage Broker News | 17 Jul 2013, 12:00 AM Agree 0
A leading for-sale-by-owner realty has announced new franchises in the Vancouver Delta specifically focused on leveraging the power of existing mortgage businesses.
  • Tiny Tim | 18 Jul 2013, 02:27 PM Agree 0
    Meh. This private sale company has been pounding its chest for over a decades but has seen little to no market growth, one of the founders has left, partnerships erode (Realty Sellers) and franchisees jumping ship with some locations on their 3rd and 4th owners in under 10 years. Ken Leblanc predicted 10 years ago that 50% of the real estate market in Canada would be private sale by 2013 and he was wrong. This is a partnership of necessity to try and bring in some decent revenue for the franchisees and the franchisor!
  • Drew MacKinnon | 18 Jul 2013, 02:54 PM Agree 0
    I think posting articles about Property Guys or other smaller FSBO providers is a smart business move - it almost always guarantees high traffic from all the insecure real estate agents rushing to comment anonymously about how terrible it is that home sellers have options that don't require their participation.

    If they spent more time working to deserve their obscene commissions, they'd have less time for scare tactics.
  • Tiny Tim | 19 Jul 2013, 04:16 AM Agree 0
    Drew, I certainly hope you are not insinuating I'm an agent, because I am not. I have bought and sold privately and have not used an agent since a bad experience 15 years ago. It's funny how the first assumption is "must be an agent" - can't I just express my observations of the company?

    So if you are anti-propertyguys you must be an agent?
  • Tiny Tim? | 19 Jul 2013, 05:29 AM Agree 0
    Tiny Tim. Seems this company is doing something right. They have been around for 15 years and yes it does take some time to overcome multi billion dollar industry, but I think it will happen. - maybe not as quickly as Mr. Leblanc predicted. Partnerships come and go and so do franchisees (I know, I've been in the franchise business for over 20 years now), that is just a part of the business. I tip my hat to these guys, they are up against a huge monster and believe it or not, they are actually taking a bite out of them.
  • Rick O'Brien | 19 Jul 2013, 09:51 AM Agree 0
    What? I'm surprised Mr. LeBlanc hasn't started his own largest private mortgage franchise network as a modern alternative to traditional mortgage agents. Imagine him, now piggy backing all the way to the bank.
  • Lior, Mortgage Edge | 19 Jul 2013, 12:08 PM Agree 0
    What's the incentive to use FSBO agencies? Is it the traditional commission structure in real estate that's the sticking point? What about the value that professional Real Estate agents (those who actually work) provide? The negotiation skills, the access to just listed properties, the personal representation, etc.

    People keep knocking down the real estate industry and the commissions that are charged but when you look at the market share of those FSBO or Comfree agencies, they are like a fly on an elephant's butt!
  • Tiny Tim | 20 Jul 2013, 08:36 AM Agree 0
    Lior, agents do charge too much for the "services" they provide. Negotiating skills? Sorry most home sellers and buyers have a price in mind....or are you suggesting an agent pressure a buyer pay more than their limit or a seller sell for less than their bottom line? Is that a "negotiation skill" agents possess?

    My beef is not with FSBO...it's with Property Guys and their shifting-all-the-time product offerings. Since I have first observed them years back, I have watched their products offering change and every year trying to find the magic formula to finally get critical mass. Every good product idea typically has a 20-25 life cycle and they have burned thru half of it trying to find themselves. Franchise's have changed hand too many times to get and experienced franchise network that can truly take a bite out of agents market share.

    Again, this appears to be an attempt to generate some cash flow in a system that needs to generate it!
  • Kevin Anderson | 22 Jul 2013, 08:03 AM Agree 0
    How many realtors are referring business to this mortgage broker in Richmond who has bought this discount real estate franchise?
  • Tiny Tim | 29 Jul 2013, 09:03 AM Agree 0
    @Kevin Anderson - why would it matter how many agents are referring their customers to this brokerage? Should we read between the lines and think realtors should boycott? and why should they do that?
  • Kevin | 29 Jul 2013, 10:53 AM Agree 0
    Tim, the comment was not meant as a global realtor boycott suggestion, because that would be up to each individual realtor. But if I personally was supporting your business by referring deals to you, then you go out and purchase a business that is in direct competition with my business... You may be Tiny, but I think you may get where I'm coming from.
  • PropertyGuys.com Franchise Owner - Alberta | 03 Aug 2013, 08:50 AM Agree 0
    As a PG franchisee, I am very excited about this new partnership. What I can say about our company is they ARE evolving very fast as new legislation allows for more innovative real estate marketing and as our customers tell us what they want. We have been in business 4 years now and things just keep getting better. Welcome to Bryan, Traci and crew! Exciting times for our company.
  • Kevin Anderson | 04 Aug 2013, 09:47 AM Agree 0
    Experience shows, these discount brokerage companies tend to attract the low producing realtors anyway. They think it'll be a quick fix to their otherwise slow business. Breaking news, fact is, the 80/20 rule will always stand.
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