PropertyGuys.com mixing realty and mortgages

PropertyGuys.com mixing realty and mortgages

PropertyGuys.com mixing realty and mortgages
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.
 
In a press release leaked on Twitter, PropertyGuys.com announces a new franchise in partnership with an existing mortgage brokerage – one  meant “to bring the PropertyGuy.com national franchise program to the Delta District as well as White Rock/Surrey.”
 
President and CEO Ken LeBlanc bills the partnership with the brokering teams of Traci Thompson and Bryan and Tracy Johnstone as providing “a complete PropertyGuys.com homeseller and mortgage solution in two locations on the Lower Mainland.”
 
Incorporating mortgage brokering with realty services isn’t easy, says one B.C. broker, but an idea that can pay dividends if done properly – extra revenue that west coast brokers could use after weathering what has been a tough market on the west coast.
 
“It is a good idea for another revenue stream,” says Cindy Faulkner, the owner of Verico Coastal Mortgages in Langley, B.C. “You should have that solid background in real estate and mortgage brokering to make it work. I would be hard to do without it.”
 
Faulkner told MortgageBrokerNews.ca that PropertyGuys.com had presented their idea for just such a brokerage back in May. With more than two decades in the mortgage and real estate industry, she is uniquely positioned to understand both industries, holding a real estate licence the last 10 years to go along with an existing mortgage brokering licence.
 
According to its website, PropertyGuys.com is Canada's largest private sale franchise network and a modern alternative to traditional real estate agents. A press release from May 8 of this year from LeBlanc states that “the stranglehold that the large brokerage brands have on the market is based on fear and it is a disservice to consumers.” He goes on to say, “Consumers want an alternative to the outrageous fees agents charge but they have been misinformed on their viability. They want a solution that best combines technology and access to expertise.”
 
LeBlanc goes on to explain that the new franchisees “plan to leverage their established mortgage business and integrate that with the PropertyGuys.com MortgagePro service to get the real estate business up very quickly.”
 
12 Comments
  • Tiny Tim 2013-07-18 2:27:42 PM
    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!
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  • Drew MacKinnon 2013-07-18 2:54:46 PM
    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.
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  • Tiny Tim 2013-07-19 4:16:51 AM
    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?
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