iPro co-founders Rui Alves (left) and Fedele Colucci.
By Connie Adair
Coming up with the concept for iPro Realty was easy, says company co-founder Rui Alves.
“We don’t sell, but if we were to start selling again, what would be a fantastic company for clients and agents?” It would be a company that offers a tangible difference from the real estate models currently offered and that’s what iPro Realty does, says Alves. “Agents can see the difference. Clients can see the difference.”
The new business concept strives to improve on four main areas of existing brokerage models.
Multiple locations: Realtors no longer sell homes just in a local market, but most brokerages are restricted to a geographical grid, says Alves. Even most Realtors from large franchises can’t walk into another branch and have access to services, and don’t have access to a different office after hours or on holidays. Instead, when working outside of their office area, these sales reps are forced to meet their clients in public locations.
iPro provides its agents with 24-hour key fob access to all of its offices. Even when entering an iPro office for the first time, the agent will know exactly what services and amenities are available (everything from a full-time receptionist to meeting and board rooms and computers). “Why belong to a big organization and have to meet clients in a coffee shop?” Alves says. The new model also benefits co-operating agents, who can drop off or pick up deposit cheques or other documents at their nearest iPro office. “It makes it attractive to do business with iPro agents,” he says.
Technology: Some companies offer multiple locations but they don’t make full use of technology, he says. iPro offices have networked computer and phone systems. Front desk staff can monitor appointments from any office and callers can be sent directly to an agent rather than being asked to call another office where the agent may be on a given day. If the agent is not logged into the system, calls are forwarded to their cell phone. Agents working from home can get a phone that is tied to the office system with no monthly fee.
Colucci and Alves celebrate the official opening of the Georgetown office with Mayor Rick Bonnette (centre).
Marketing: Some companies are reducing costs by cutting back on marketing.
Even as an independent, iPro is committed to promoting the brand and its agents to the public through regular advertising on television, print and public transit. “We want the public to identify iPro Realtors as professional-grade Realtors offering full real estate services and the latest in marketing tools available,” Alves says.
Fees: Each franchise is a separate office and has its own costs.
Working under the same corporate banner eliminates franchise fees and duplicate accounting and legal departments. Economies of scale allow cost savings, which are passed along to its agents.
iPro has no quotas and no minimum contract period. “Our goal is to make people so happy they want to stay,” Alves says.
Fees start at $50 a month with a high percentage of commission to the agent and other options are available.
iPro has also developed a Realtor Concierge Service that helps agents focus on listing and selling rather than on mundane administrative tasks. “It’s like having an assistant without the salary and management commitment,” Alves says. When a sales rep hands in a listing, they check off an à la carte menu of services they want (professional photography, putting up a sign or lock box, creating a single address website, video) and iPro concierge staff make all the arrangements for the agent. Another bonus of the service lets the agent make the best technological marketing tools available to their clients, even if the agent is not technically savvy themselves.
By having its concierge team look after all of iPro’s agents, it’s possible to co-ordinate with the best suppliers for the best prices and savings are passed along to agents, Alves says. It saves agents time – they don’t have to call and co-ordinate each item they want. “Suppliers like it because they deal with the same couple of staff all the time and get paid by us.”
In less than two years, iPro Realty has become one of the largest and fastest growing brokerages in the GTA, recently opening its sixth location in The Danforth neighbourhood in Toronto, says Alves.
iPro also has offices in Mississauga, Brampton, Orangeville, Georgetown and Shelburne. “Our goal is to have offices in every community across the GTA, opening about one office every six months,” says Alves.
iPro was co-founded by Alves and broker of record Fedele Colucci. They opened the first office in the fall of 2009. The company acquired 240 agents in 21 months.
Alves and Colucci had been in the real estate business for 30 years and had owned an operated a major franchise brand brokerage for more than 20 years before iPro became a reality.
