Stephen Moranis (left), founder of Sadie Moranis Realty, which is now operating as Sutton Sadie Moranis, and director of business development for Sutton Group Realty Services Ltd., Richard Brinkley.
Big changes are afoot at Sadie Moranis Realty in Toronto. The new year has brought a new franchise agreement, a new business direction and a new location for the company co-founded by Sadie Moranis and her son, Stephen, in 1976. The 170-agent company has joined the Sutton network and began operating as Sutton Sadie Moranis Realty on Jan. 1.
“We want to provide a platform that will best allow our agents and company to meet the competitive challenges in the real estate industry in the years ahead,” says company founder Stephen Moranis.
Although he and the management team looked at several options, they decided to go with Sutton, choosing the Canadian network that has almost 9,000 agents.
“There are a lot of great networks with a lot of sizzle, but we liked the more professional and quiet approach,” Moranis says. “We’re excited about becoming part of the (Sutton) network. We’re strong locally. Sutton is strong in Vancouver and Quebec. It’s a great opportunity to replicate that success here. We are partnering to provide the best possible platform for the legacy of Sadie Moranis.”
Among her achievements, Sadie Moranis was the first female president of the Toronto Real Estate Board. When she started in real estate in 1963, her biggest challenge was to find a broker who would hire a woman, Moranis says.
The last few years have been tough for Stephen Moranis, who says he was “at my wits end,” having lost his sister, Realtor Terry Moranis, in 2006 and his parents, 47 days apart, in 2009. “But business continued. We have a strong resilient management team. Our four senior management people have more than 50 years of collective experience.”
Sadie Moranis Realty was affiliated with Prudential for 17 years, but with the purchase of Prudential by Brookfield, and their franchise agreement coming to an end, Moranis and his management team decided to choose a new business direction.
Stephen Moranis was also co-founder of the controversial Realtysellers franchise in 2000, and although he is not affiliated with the current Realtysellers operations, he is still involved in litigation with the Toronto Real Estate Board and the Canadian Real Estate Association.
Sutton Sadie Moranis Realty has a new location directly across the street from TREB and is sporting an “upscale and high-brow new image”, Moranis says.
“Sadie was a trail blazer and a first in so many things. Sutton has done the same,” Moranis says.
Sutton Sadie Moranis will continue to concentrate on offering full support services and a comprehensive compensation model. The company has “lived through the cycles. We have the experience and background to help our agents list, sell and meet their financial goals.”
Sutton Sadie Moranis’ new “one-stop real estate shop” offers “hundreds of thousands in technology”, and an on-site 94-seat state-of-the-art training centre, he says. Also on-site are a cafeteria and exercise facilities. The 10,000-square-foot office also has front and back office support and in-house lawyers. Although not affiliated with the company, there is an environmental assessment company in the building, a convenience that will be appreciated as the company expands into commercial.
The company will continue to be strong in its traditional high-end neighbourhoods, such as the Bridle Path, Forest Hill and Rosedale, but plans to expand into the 905 area code regions.
“The location turned out to be perfect. It’s on busy Don Mills Road, which has great visibility and is close to the parkway and 401. Agents can work anywhere and be properly serviced. There is also public transit for administrative staff.”
Joining the Sutton network promises to be a “huge opportunity for us. There’s great agent-to-agent referral potential,” Moranis says. “I met with (Sutton founders) Lance Tracey and Scott Shaw. They’re terrific, committed to business, understand business and want people to be successful and profitable. I like their style and approach. Sadie would have signed up for this partnership. I have a sense she would have felt good. We have made a long-time commitment to keep the Sadie Moranis tradition going.” – Connie Adair
