Online real estate brokerage launches mortgage arm

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A successful online real estate brokerage recently launched its mortgage arm with the hopes of earning and keeping business throughout the buying process and it will look to an established brokerage to provide back-end support.

“TheRedPin positions itself as a technology company that happens to sell real estate and most of the business we do is online; the agents are salaried and the mortgage department is very similar to that,” Mark Olkowski, principle broker for TheRedPin Mortgage Brokerage Inc. told “Now RedPin’s Realtors don’t have to source their own business – we supply it to them.”

Currently, TheRedPin focuses on real estate in the GTA and surrounding areas; with sprinklings of listings as far as Guelph, Oshawa and Barrie. The plan is to take over Ontario before spreading as far as British Columbia, according to Olkowski.

And the formula for success relies almost entirely on Internet leads.

“95 per cent of the business comes from online. The platform they have is if you are looking for a property in the GTA the Red Pin actually has more information than anybody else and that includes MLS,” Olkowski said. They basically take all this information and bring it all onto one site and that includes construction deals as well.”

TheRedPin teamed up with RMAI who will provide the back-end support for its mortgage brokers.

“I’ve worked for several brokers before … and RMAI just really had what we needed,” Olkowski said. “We wanted to maintain the brand and we needed that back-end support for payroll and deals and everything else so it suited us for what we needed to make it work.
“We’re really happy with Ron (De Silva).”
  • Frank on 2014-07-30 12:16:20 PM

    All the best to them. I hope it works out.

  • @kiltedbroker on 2014-07-30 12:34:14 PM

    All the best! Love seeing innovation in our industry!

  • Max Cafissi on 2014-07-30 12:49:45 PM

    So what's the name of the Brokerage arm ? RMAI is Real Mortgage Associates Inc. so is that their Brokerage arm ? If that's the case, are RedPin Agents also registered with RMAI as Mortgage Agents ? this whole article does not make a lot of sense to me, as a Mortgage Broker and Realtor

  • Ron Butler on 2014-07-30 12:55:56 PM

    I think Mr. Olkowski owns the brokerage and they have simply affiliated with RMAI. RedPin is the real estate website that creates the leads to try to market mortgages to.

  • Mark Olkowski on 2014-07-30 1:10:10 PM

    For clarification:
    The mortgage brokerage arm is called "TheRedPin Mortgage Brokerage Inc" and is a wholly owned subsidiary of TheRedPin.
    The mortgage brokerage arm is registered under RMAI.
    TheRedPin Mortgage Brokerage Inc fulfills the financing needs of online real estate leads generated by TheRedPin.

  • Ron De Silva - RMA on 2014-07-30 3:06:30 PM

    The recent Zillow purchase of Trujillo for $3.5B is a good indicator of what the future may hold for Realestate & Tech players such as Redpin. Given how integral the mortgage brokerage arm is to the Redpin business model, I'm pleased the principals at Redpin Realty and Redpin Mortgage Brokerage decided on RMAI as the best fit to help accomplish their objectives.

  • Matthew Chang-Kit on 2015-12-14 9:32:14 AM

    Where did that statistic come from? How has the market developed with Red Pin's involvement? What was Red Pin's growth like that makes them so profitable?

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