Toronto-based brokerage Properly has announced that it will no longer offer its sales assurance service to clients.
The service, which allowed homeowners to unlock equity in their homes to buy first and sell later, was one of the company’s key selling points.
The decision to discontinue the service is due to the unprecedented volatility in the Canadian housing market, according to a recent update posted to Properly’s website by Co-Founder and COO Sheldon McCormick.
The move comes amid a tumultuous time for the company, which recently laid off 71 employees and cited the changing landscape of real estate as the reason for the decision.
McCormick stated that the pause does not impact clients who have an outstanding commitment from the company.
Unprecedented volatility nothing. Nothing is wrong with the market, and everything is wrong with unsustainable business models.
Agreed! Always someone trying to reinvent the wheel!
It’s little wonder there is such disrespect for the business. The entities that govern our industry look mostly at the $s they receive from new membership rather than maintaining quality and respect it should be getting.
I agree with you.
ha ha ha
what junk!
Properly’s offer was great, and that worked well in the seller market. It will also work in a corrected market. It may not be suitable when it is a buyer marker. Focusing on cost-effective operations in the buyer market can help a business stand out and be successful using the sale assurance as tool.