PropertyGuys.com Launches International Expansion With First U.S. Franchise
MONCTON – PropertyGuys.com, a Moncton business that cuts out the middleman in real estate buying and selling, is expanding out of Canada for the first time. The company has sold a master franchise to a group of entrepreneurs led by Patrick Belanger that will cover the state of Florida.
“We’re really excited that the model … works pretty much anywhere traditional real estate services being offered, which is in almost every single country in the world,” said CEO Ken LeBlanc. “It means we have unlimited potential to keep growing this business.”
Florida is especially attractive because it’s a top destination for Canadians who are likely already familiar with the company’s brand. This would give it a good foundation as the company expands to other states, LeBlanc said. The company sees over 200 franchise opportunities in Florida alone.
“The U.S. is very exciting just on the mass size and the opportunity there to take PropertyGuys to another level. It’s going to be the first of what we believe will be a lot [of business] in the U.S.,” he said. “We have potentially about 25 master franchises that we’re going to be selling.”
The Florida office is the only master franchise outside of the Moncton “mothership,” as LeBlanc calls it. It will function as an extension of the Moncton head office, sharing technology, call centre services and mirroring all the departments that the Moncton office has. Having this master franchise means the company won’t have to put additional pressure on its team of 40 in Moncton.
The Florida master franchise will look for individual franchisees to offer PropertyGuys.com services to smaller chunks of the Florida market. It will also support those franchisees, who won’t need a real estate background as they will be trained by the company.
While the company is primarily focusing on the U.S. in 2019-2020, it’s also in talks with a group in South Africa for a master franchise deal there.
“We could probably see that happen in 2019,” LeBlanc added.
To ensure the expansion goes smoothly, PropertyGuys.com has promoted long-time employee Chris Morton as International Operations Manager. Morton will ensure the on-boarding of master franchisees are in the right order, on-schedule and on-brand. He will remain based out of Moncton.
“Chris has the experience here internally and he’s worn a number of hats over the years, so we’re excited to promote him into operations manager and ensure everything that needs to be done in the right time and the right order,” LeBlanc said.
Founded in 1998, the company sold its first 10 franchises in Atlantic Canada in 2001. It now has more than 100 franchise locations nationwide except in Quebec. Each franchisee is given “protected territory,” which makes them the only provider that can offer PropertyGuys.com services in a certain area.
PropertyGuys.com’s platform allows homeowners to sell their homes directly to buyers without the help of an agent, cutting the cost. Homeowners can also use the company’s technology to give virtual tours to buyers or show their homes using drone photography or drone videos. The company’s platform also helps sellers vet potential buyers, pre-approve them, help the two sides negotiate online and so on.
Instead of charging a commission like an agent, PropertyGuys.com uses a flat-fee model for its services. It also offers rental and vacation properties, among others.
This model continues to allow PropertyGuys.com to disrupt the real estate market, LeBlanc said.
“The last two years, we’ve been focusing on some international expansions. So, wherever we see traditional real estate models exist is where we think we can go. So if you see a Remax or Century 21, or any of those traditional brands, we know that the model has an opportunity to be disrupted and to be corrected, as far as we’re concerned,” he said.