PHOTO: After success in Britain, the founder of discount real estate company Purplebricks, Michael Bruce, expects to shake up the Canadian market. (Purplebricks)
But traditional home sellers scoff at the idea it will spell the end of sales commissions
An international online property powerhouse has purchased one of the world’s top web-based, commission-free real estate companies in a bid to shake up the Canadian home-selling industry.
Last month’s successful $51-million bid for Quebec-based duProprio means “For Sale” signs bearing the name Purplebricks will soon start popping up across Canada, says the company’s president, Michael Bruce. Also watch for some major advertising campaigns.
Traditional Canadian real estate agents scoff at the idea Bruce can disrupt how homes are sold here with his discount model that charges a flat fee for the services of a real estate agent rather than a sales commission.
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