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.”