For-sale-by owner site adds extra value

A leading for-sale-by-owner realty may have upped its competitive advantage over conventional players with a plan to better service a client's mortgage needs.

In a press release leaked on Twitter, announced a new franchise Tuesday in partnership with existing mortgage brokerages and meant “to bring the national franchise program to the Delta District as well as White Rock/Surrey” of B.C.

President and CEO Ken LeBlanc bills the partnership with the brokering teams of Traci Thompson and Bryan and Tracy Johnstone as providing “a complete homeseller and mortgage solution in two locations on the Lower Mainland.”

Incorporating mortgage brokering with realty services isn’t easy, says one B.C. real estate broker, but an idea that can pay dividends if done properly.

“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.”

According to its website, 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 MortgagePro service to get the real estate business up very quickly.”

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