partnership Archives - REM https://realestatemagazine.ca/tag/partnership/ Canada’s premier magazine for real estate professionals. Thu, 29 Aug 2024 16:18:32 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://realestatemagazine.ca/wp-content/uploads/2022/09/cropped-REM-Fav-32x32.png partnership Archives - REM https://realestatemagazine.ca/tag/partnership/ 32 32 Venturon partners with Darabase Canada to offer real estate AR advancements and spatial web technology https://realestatemagazine.ca/venturon-partners-with-darabase-canada-to-offer-real-estate-ar-advancements-and-spatial-web-technology/ https://realestatemagazine.ca/venturon-partners-with-darabase-canada-to-offer-real-estate-ar-advancements-and-spatial-web-technology/#respond Tue, 27 Aug 2024 04:01:18 +0000 https://realestatemagazine.ca/?p=33909 By integrating advanced technologies, the collaboration seeks to redefine real estate, offering innovative solutions that benefit both property owners and the wider community

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Venturon Ltd., a Canadian-owned investment group focused on real estate technology start-ups, has recently partnered with Darabase Canada, a technology company specializing in immersive media for the spatial web (spatial out-of-home and permission-based augmented reality (AR) advertising).

Venturon brings decades of experience in various real estate sectors, integrating technology, products and services to create opportunities, efficiencies and investment returns. This is Darabase’s first such agreement in Canada since entering the market in February.

 

‘As AR and the spatial web advance, buildings, streets & landmarks will be transformed … reshaping our daily lives’

 

The collaboration merges each company’s expertise in AR advertising and managing property digital rights, an emerging asset class.

With the rise of AR-enabled devices and advances in the spatial web, the companies partnered to create new value for property owners across Venturon’s client and partner network.

“Real estate needs a new foundation, and technology is the key to unlocking its full potential,” says Deena Pantalone, founder and managing partner of Venturon. “Our partnership with Darabase aligns perfectly with our vision to rethink real estate. By leveraging Darabase’s expertise in AR and the spatial web, we’re paving the way for innovative solutions that benefit both property owners and the broader community.”

Peter Pinfold, CEO of Darabase Canada, notes that Venturon shares their vision that modern property ownership includes not just physical space but also property digital rights: “These rights enable property owners to protect, manage and monetize their digital assets, much like air and subterranean rights add value to traditional real estate.

The world is becoming a digital canvas for immersive brand experiences. As AR and the spatial web advance, our buildings, streets and landmarks will be transformed with dynamic, interactive content, reshaping our daily lives.”

 

Image: Darabase

 

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]]> https://realestatemagazine.ca/venturon-partners-with-darabase-canada-to-offer-real-estate-ar-advancements-and-spatial-web-technology/feed/ 0 AREA offers free payment services to member brokerages through new partnership with Payload https://realestatemagazine.ca/area-offers-free-payment-services-to-member-brokerages-through-new-partnership-with-payload/ https://realestatemagazine.ca/area-offers-free-payment-services-to-member-brokerages-through-new-partnership-with-payload/#respond Tue, 30 Jul 2024 04:01:07 +0000 https://realestatemagazine.ca/?p=33326 “This partnership will provide significant value to our members, allowing them to focus more on client service and less on administrative tasks”

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The Alberta Real Estate Association (AREA) has recently partnered with Payload, a digital payments fintech company specializing in streamlining transactions for the real estate industry. The collaboration will provide AREA’s 600+ member brokerages with free access to Payload’s payment processing services.

Payload automates all incoming and outgoing payments for real estate transactions, including EFT deposit funds, invoicing for agent fees, the distribution of commission payments and many other inbound or outbound payment types.

“We are excited to partner with the Alberta Real Estate Association and extend our innovative payment services to their member brokerages,” says Zach Jacob, VP of partnerships at Payload. “This partnership underscores our commitment to transforming the real estate payment landscape in Canada, making transactions faster, more secure and completely digital.”

 

Benefits to AREA members

 

With this integration, AREA aims to enhance operational efficiency and financial management for its member brokerages which will benefit from automated payment processing, enhanced security, streamlined transactions and versatile payment options.

“We are delighted to offer Payload’s state-of-the-art payment services to our member brokerages,” says Jolene Ledene Reimer, AREA chair. “This partnership will provide significant value to our members, allowing them to focus more on client service and less on administrative tasks.”

 

Image: Payload.com

 

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]]> https://realestatemagazine.ca/area-offers-free-payment-services-to-member-brokerages-through-new-partnership-with-payload/feed/ 0 Starting an unlikely yet successful partnership: Real estate and sports teams https://realestatemagazine.ca/starting-an-unlikely-yet-successful-partnership-real-estate-and-sports-teams/ https://realestatemagazine.ca/starting-an-unlikely-yet-successful-partnership-real-estate-and-sports-teams/#respond Wed, 27 Dec 2023 05:03:54 +0000 https://realestatemagazine.ca/?p=26862 Small sponsorships can go a long way, just pick a reputable league and in a sport you’re passionate about.  “Conversation = relationships = business”

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Sam McDadi was recently recognized by a stranger at the airport and congratulated for his new partnership with the Toronto Raptors.

Sam McDadi Real Estate Inc. in Mississauga, Ontario became the official real estate brokerage of the Raptors on November 1, a day sales representative and owner, McDadi, marked with a trip to Scotiabank Arena for the Raptors versus Milwaukee Bucks game. The arena was plastered with McDadi ads.

 

Where it all began

 

It all started innocently enough. About five years ago, McDadi’s friend, Raptors superfan Nav Bhatia, said he had tickets and asked McDadi if he would like them. McDadi thought he’d go to a few games and offer tickets to other people but after the experience of sitting courtside, he was hooked and went to all of the games himself. “This is too much fun,” he says. McDadi even ties his travel to the Raptors’ schedule.

Before the partnership, McDadi, who loves sports and had been a Raptors fan for years, had organically grown a relationship with the basketball organization, helping one player, then numerous players and coaches, with their real estate needs. 

Then, Maple Leaf Sports and Entertainment approached him with an opportunity to partner. It took a couple of months to work out the details of the three-year sponsorship. 

 

How the partnership works

 

McDadi says the partnership is a good fit because he and the organization share the same values. When the Raptors promote McDadi Real Estate as its exclusive broker, it “adds to our credibility and image,” he says. “They talk about us in their venues and online.”

In a news release, Julian Franklin, vice president of partnership development and strategy at Maple Leaf Sports & Entertainment/MLSE, says, “We are pleased to announce Sam McDadi’s long-standing support of the Toronto Raptors has transformed into a dynamic partnership with the team. We are looking forward to introducing exciting joint programming to our fans this season.”


Team McDadi at Scotiabank Arena

 

McDadi attended the Giants of Africa Gala, co-founded by Toronto Raptors president Masai Ujiri. “I was happy to be there and some clients got to meet players,” the realtor says.

 

Successful cross-promotion

 

McDadi promotes the team on his website and other marketing materials, a partnership that benefits both brands. His seven-person marketing team comes up with concepts and once he approves them, it’s full steam ahead. 

McDadi’s Open House, an interview series featuring athletes and celebrities, has included Raptors players. It offers fans a behind-the-scenes look into their homes.

The CP24 segments are a “fun series,” he says from Miami, on location for a shoot with a high-profile athlete for an upcoming feature.

 

Tips for agents who want to follow in McDadi’s footsteps

 

“I’ve been in the business for 35 years now. I’ve worked hard to build a good brand. Slow and steady wins the race. Someone else could have the same level of success, but you must be patient,” he says.

“Things happen organically. Don’t be pushy. With any client, regardless of the price of the property, being pushy doesn’t work. Let things evolve. Don’t try too hard.”

And, an all-important piece of advice: “Keep everything confidential. Don’t post (all kinds of) pictures. Athletes like respect and privacy.”

The Raptors partnership is in its infancy, but McDadi says, “We’re off to a great start. The best is yet to come.” It’s about a successful partnership that benefits both brands, but it’s also about fun and being involved in something you’re passionate about, he says.

 

An industry partnership with the Toronto Blue Jays

 

Broker Jeffrey Kerr of Re/Max Prime Properties Unique Group in Toronto also knows what it’s like to be passionate about a sports team and to have a dream-come-true partnership.

When Re/Max Canada announced that its realtors are the official real estate agents of the Toronto Blue Jays, to say Kerr was pleased would be an understatement. Kerr, who on most days wears a Blue Jays t-shirt, is elated about the national sponsorship, which runs until the end of the 2025 Jays’ season.

“The Blue Jays are the only MLB team in Canada, so it was a good fit with Re/Max promoting the team across the country,” he says.

David O’Reilly, partnerships director for the Toronto Blue Jays, says, “The Blue Jays are Canada’s baseball team and Re/Max has a network of more than 25,000 brokers and agents across the country, making our partnership a perfect match. Together we are working to grow our respective brands and engage Canadians.”

It’s all about brand recognition, Kerr says. “We’re allowed to incorporate the Blue Jays brand in our advertising and website. Brand awareness creates a good connection point with clients. For Jays fans, it’s a conversation starter. It’s a way to build up relationships.”


Jeffrey Kerr at his Blue Jays-themed desk

 

When he visited the Rogers Centre in the fall, Kerr says that seeing Re/Max branding across the arena was very “impactful.”

He’s working on Toronto Blue Jays-related events to offer clients. “I love to take clients to Jays games,” Kerr explains. It’s Blue Jays all the time — he has a Blue Jays flag flying outside his home and when he’s not working, he’s either at a game or watching one on TV. “The Jays sponsorship really speaks to me.”

As for the other side of it, O’Reilly explains, “Our partnership gives Re/Max Canada the ability to leverage the Blue Jays brand in nationwide marketing and communications efforts to help drive brand affinity and consideration among the millions of Blue Jays fans in communities across Canada. We’re grateful for Re/Max Canada’s support and are excited to build a best-in-class partnership in the years ahead.”

 

How to find a meaningful partnership

 

If big league sponsorships are too expensive for small offices or agents starting in the business, Kerr recommends choosing a sport that you’re passionate about and starting by sponsoring a local team.

For example, he sponsors his daughter’s girls’ softball team, called Kerrazy, and says he gets a lot of personal satisfaction by helping the team out. He has a video on his website about the team and its achievements.

Make sure you pick a reputable league and that you have a passion for the sport. “Most sports leagues are looking for sponsorship, so call them and discuss the opportunities. It’s important to support the community you’re working in. If you’re new to the area or a new realtor, call and ask about advertising opportunities.”

Kerr reminds agents that small sponsorships can go a long way. “Conversation = relationships = business.”

 

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]]> https://realestatemagazine.ca/starting-an-unlikely-yet-successful-partnership-real-estate-and-sports-teams/feed/ 0 Northern Gold Realty joins the Royal LePage network https://realestatemagazine.ca/northern-gold-realty-joins-the-royal-lepage-network/ https://realestatemagazine.ca/northern-gold-realty-joins-the-royal-lepage-network/#respond Tue, 05 Sep 2023 04:00:38 +0000 https://realestatemagazine.ca/?p=24019 Royal LePage is pleased to announce that Northern Gold Realty has recently joined the network. Under the leadership of brokerage bwner Landon Lavictoire, the growing brokerage will service Kirkland Lake, […]

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]]> Royal LePage is pleased to announce that Northern Gold Realty has recently joined the network. Under the leadership of brokerage bwner Landon Lavictoire, the growing brokerage will service Kirkland Lake, Larder Lake, Virginiatown, Ramore, Elk Lake, Matachewan and Englehart in northeastern Ontario. The brokerage offers representation in all aspects of real estate, but predominantly specializes in residential and waterfront properties.
Lavictoire is an award-winning real estate professional, beginning his career in 2019 following his retirement from the Canadian Armed Forces (CAF); he previously worked with Royal LePage Best Choice Realty as a sales representative.
Drawing from experience as a retired artillery officer in the CAF, Royal LePage says he’s cultivated a strong work ethic with invaluable organizational skills, which have been instrumental in effectively managing a business.
Royal LePage Northern Gold Realty has a goal of developing a dedicated client base and offering valuable training and resources for its new agents. Ultimately, Lavictoire aspires to establish the brokerage as a leader in the Kirkland Lake area by boosting productivity and achieving remarkable sales outcomes.

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]]> https://realestatemagazine.ca/northern-gold-realty-joins-the-royal-lepage-network/feed/ 0 How to find a compatible business partner https://realestatemagazine.ca/how-to-find-a-compatible-business-partner/ https://realestatemagazine.ca/how-to-find-a-compatible-business-partner/#respond Tue, 21 Sep 2021 04:00:12 +0000 https://realestatemagazine.ca/how-to-find-a-compatible-business-partner/ The key is finding a compatible partner, which sounds daunting, but actually, it’s surprisingly simple to get started. So, how do you find a compatible partner?

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]]> In my last column, I talked about how to use a Points Per Task system with a business partner to support each other without having to share commissions.

This system allows you to get more done, be more flexible and take time off more frequently; all without ever giving up a dime of your hard-earned commissions to another agent.

The key is finding a compatible partner, which sounds daunting, but actually, it’s surprisingly simple to get started. You can “try out” a “loose” partnership and if it’s not working, end it and try again with someone else. No big deal.

On the other hand, if it’s going well, the sky’s the limit on how far you go with a partnership. For example, at one time, my business partner Dave and I shared the same CRM, the same assistant, the same listing presentation and even the same office.

And yet, we never once shared a commission. We looked like partners to the outside world, but in fact, we were two individual agents who just figured out a great way to support each other, using the Points Per Task system.

So, how do you find a compatible partner?

One of the things that people worry about with a partnership is if their partner will put out the same effort for your clients as they do for their own. But Dave and I had the opposite experience. We both felt a strong responsibility to do a great job for the other guy’s clients; the last thing we wanted to do was disappoint our partner!

I would go above and beyond to make absolutely sure that Dave’s clients received great care and advice from me and he would do the same.

The point is that you and your proposed partner don’t need to be clones of each other, but you must have similar values and a similar work ethic.

To determine this, take it slow and easy and get to know each other. You don’t need to even talk about the Points Per Task system or mention the word “partnership” until you are ready. Instead, start with a weekly accountability meeting to discuss business and support each other in achieving your goals. This could be with anyone in your office that you feel might make a good future partner. Or talk to your broker and ask them if they could recommend a good match.

You’ll learn a ton about the other person by meeting and chatting with them every week, and some of what you learn might not be from the talking. For example, if I had a proposed partner who was late for every meeting or made excuses to change the date and time every week, I would end it and try someone else. For me, not being prompt and reliable are deal-breakers. For you, maybe it’s something completely different. The point is, get to know your partner well before you take the next step.

If it’s going well, go ahead and introduce the Points Per Task system and see if your proposed partner is interested. All you need to do is agree to whatever points are assigned to each task, which is completely open to discussion. Many agents get hung up on the “points” part, but it’s almost always because they think too much in dollars and cents rather than in points.

For example, would I go to all the work of researching and building a CMA for a property, do a full listing presentation and sign the clients up to a contract all for $1,000? Not a chance.

But would I do all that work knowing that my partner would now owe me an equivalent amount of work later? You bet I would!

Once you’ve started using the Points Per Task system, you must continue to meet regularly. You’ve formed the foundation of a partnership, which can lead to great things. But never forget, all great partnerships are built upon great communication.

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]]> https://realestatemagazine.ca/how-to-find-a-compatible-business-partner/feed/ 0 Should you have a real estate partner? https://realestatemagazine.ca/should-you-have-a-real-estate-partner/ https://realestatemagazine.ca/should-you-have-a-real-estate-partner/#respond Wed, 09 May 2018 09:08:54 +0000 https://realestatemagazine.ca/should-you-have-a-real-estate-partner/ For those new to real estate, having a partner is an ideal way to get to know the industry. You not only have a built-in mentor, you have immediate credibility if an established agent is vouching for you.

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]]> For those new to real estate, having a partner is an ideal way to get to know the industry. You not only have a built-in mentor, you have immediate credibility if an established agent is vouching for you. And having someone help you navigate the tricky first few years increases your chances of success. For established agents, a partner may help take your business to the next level.

Olga Cordova and Anna Pylypiv

Olga Cordova and Anna Pylypiv

Sales rep Olga Cordova with Cityscapes Real Estate in Toronto partnered with Anna Pylypiv three years ago. “There are so many upsides to having a partner. One of the greatest is having the ability to share our insights and ideas with each other,” Cordova says. “We both have a similar work ethic but different strengths, and when we put our minds together, we can accomplish anything. As cheesy as it may sound, neither of us could come up with a great downside to being one half of a team. There are slight challenges, such as reaching a compromise when we have a difference of opinion.”

Mary Ann Keary

Mary Ann Keary

Mary Ann Keary, a broker at Royal LePage ProAlliance Realty Brokerage in Brockville, Ont., partnered in real estate with her husband, Rodney Keary, in 1996. “Working together as a partnership is like learning how to dance. Once you know how each other thinks, you dance together beautifully and don’t step on each other’s toes,” she says. “We make it look easy, when really it’s a lot of work. Partnering up with my spouse has been a great experience for me and I wouldn’t want to work alone anymore. Clients are receptive to either of us assisting them. The downside is trying to get time off together. Technology has made that easier and even when we are on vacation, we are still taking care of our clients.”

But Keary adds, “When people partner up, I think one always feels like they work harder than the other and I think compensation can be the demise of many partnerships.”

Jason Zroback, a real estate agent at LandQuest Realty in New Westminster, B.C. partnered with his brother Jamie Zroback in 2006. “We are totally different personalities and I think that is one of our best strengths,” says Jason. “There are four distinct characteristics to people’s personalities…

Jamie Zroback and his brother Jason Zroback

Jamie Zroback and his brother Jason Zroback

Between the two of us, we cover all four characteristics in our personalities. By identifying our client’s personality, we will generally let the person who best matches the client’s personality take the lead. In the past, when one of us has not had success with a client and the other one steps in, more often than not it achieves positive results. Everyone has a different personality and they tend to gravitate and want to deal with a similar personality. Our partnership allows this to happen most effectively.”

How do you know if pairing up with someone is right for you? Cordova says, “Finding the right partner is more important than finding a partner. You need to get along and share the same business values and beliefs. Being like-minded really makes things flow smoothly. Work with someone who you trust and respect completely. Define your goals, roles and responsibilities from the beginning and create a fair system for profits that works well for you. Finally, communication. Always be 100-per-cent honest with each other, no matter what. Like in any successful relationship, communication is key.”

Zroback adds, “My advice for anyone considering a partnership would be to pick a partner with a different personality than yours, which typically will bring different skill sets, which is another reason to have a partner. Know what you are good at and find someone who can do the things you’re not good at. At the end of the day, the best part of a good partnership is knowing you have their back and they have yours, which will build a better business and give you more freedom.”

Keary shares an analogy: “I believe birds fly south because together they can accomplish far more than they can as an individual.”

Laura Keller

Laura Keller

Having a partner isn’t for everyone. Laura Keller, a sales representative with Re/Max Affiliates Realty in Carleton Place, Ont. hasn’t teamed up with a partner in the eight years she has been in real estate.

“I’m driven, and I like to do things my own way. I do get approached by new Realtors (or people interested in getting into the industry) from time to time, asking about joining a team to start. It’s really a personal choice. Nobody knows you better than you. Some people really want to get started where systems are already in place; they don’t have to look hard for business and they don’t want to take on the risk of going it alone. Others are better working alone. It really comes down to knowing yourself and what kind of business you want to have.”

If you decide to tackle the real estate industry alongside someone else, it is essential to clarify your goals and pin down how you are going to achieve those goals.

Perks of partnerships:
  • Easier to achieve a work/life balance when sharing the responsibilities
  • Shared expenses
  • Clients get twice the expertise
  • The real estate industry can be harsh; it’s nice to have someone to share the stress with
  • More diverse knowledge base (two heads instead of one)
  • Usually easier to schedule time off
Pitfalls of partnerships:
  • Shared commissions
  • Tension can arise when you don’t have similar visions or your personalities clash
  • Resentment can brew if one partner feels he or she is doing more than their share of the work
  • You need to consult someone else when making decisions

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]]> https://realestatemagazine.ca/should-you-have-a-real-estate-partner/feed/ 0 Why most real estate partnerships fail https://realestatemagazine.ca/real-estate-partnerships-fail/ https://realestatemagazine.ca/real-estate-partnerships-fail/#respond Fri, 12 May 2017 06:04:05 +0000 https://realestatemagazine.ca/real-estate-partnerships-fail/ Partnerships dissolve due to challenges that stem from many different circumstances. The list is long and ranges from contribution and commitment to ego-based problems and profit responsibilities.

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]]> I am often approached by salespeople who say they plan to “partner up” with another agent. Reasons to do this vary from sharing marketing dollars to “spotting” each other while one takes a vacation. While there is a definite appeal to having a partner in an industry that can be very lonely at times, most real estate partnerships fail.

In my own experience, I have been fortunate to create and sustain a long lasting business partnership with a close friend and colleague. Our partnership originated after a combined 20 plus years of selling experience, when we determined that we wanted to own and grow a successful real estate company.

The partnership has faced its challenges but overall it has been the best experience I’ve had inside my career and it continues to evolve in a positive direction. A constant awareness has been crucial in maintaining our friendship inside the growing model we have created.

Partnerships dissolve due to challenges that stem from many different circumstances. The list is long and ranges from contribution and commitment to ego-based problems and profit responsibilities. In my experience the No. 1 reason that partnerships fail is a pure result-based mindset by one or both partners involved.

Here are five specific principles to understand and evaluate when you are considering a partnership:

Understanding your joint vision:

There are no two people who are exactly the same. Although you may have the same ideas as far as goals, money is not the driving factor of a successful real estate partnership. Have you clearly identified your purpose as individuals and how that can be matched up to create the purpose of a business partnership? We call these life goals.

Embrace your strengths and weaknesses:

If each of you brings various skill sets to the business relationship, it will ensure that you focus on the positive aspects of each other versus the negative. My recommendation is to be abundant in your own individual skill sets and recognize the other for doing the same.

Know your numbers:

Whether it’s selling or recruiting, understanding your numbers and tracking everything is a science that I encourage. Reverse engineer all of your results and outcomes to create a process that is measurable and sustainable. This applies to sales and conversion rates along with recruiting and attrition rates. When you focus on the activity and process that is required to meet your goals together, you will then be able to find success through new systems and improvements.

Have predetermined expectations:

No partnership will exhibit the same productivity result per partner. However, this is where most partnerships meet their demise. Consider creating an agreement to a minimal level of commitment required for income generating activities. With an understanding that you both are contributing at the highest level, you will soon eliminate the idea that one of you is doing more than the other.

Make it more than just business:

Real estate is a personal relationship business. Your partnership should be and will be one of a personal nature as well. Learn to understand what fuels your partner and what they truly value inside and outside of the business. A partnership is just as much about quality of life inside real estate as it is selling more homes or recruiting more agents. Developing an understanding of one another on a deep personal level will serve your partnership at the highest level.

A real estate partnership, like any business partnership, can be both very rewarding and very frustrating. The challenges that most relationships of this nature face will always present themselves. With the right level of awareness and a commitment to serving yourselves and others, you may find success in a partnership model and develop a life-long friendship through the process.

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