RE/MAX Legacy Realty Inc. buys RE/MAX Professionals Inc., in Mississauga

Mississauga, ON (February 15, 2012) — After an extensive search for the right buyer, RE/MAX Professionals Inc.’s  1645 Dundas St. office in Mississauga—the first RE/MAX franchise office in Eastern Canada—has been sold.

Award-winning broker-owner Tariq Khursheed, of appropriately-named RE/MAX Legacy Realty Inc., will build on the success of the formidable sales team at RE/MAX Professionals’ Dundas St. location, taking the organization to the next level through a strategic expansion plan that will ultimately position RE/MAX Legacy at the forefront of real estate in Mississauga.

“The timing of the sale is perfect on several levels,” says former Owner Pamela Alexander, RE/MAX Professionals Inc.  “From an industry standpoint, demand for housing in Mississauga remains brisk and the population continues to climb.  The city is clearly taking new shape, as evidenced by the abundance of condominiums now dotting the skyline.  The time has come to pass the reins to a younger, more dynamic leader with a vision for the future.”

RE/MAX Professionals Inc. was established in 1980 by Frank Polzler, President and Co-founder of RE/MAX Ontario-Atlantic Canada, and operated by owners Pamela and John Alexander. RE/MAX Professionals grew to one of the largest brokerages in the country, with more than 250 agents operating out of three offices—1645 Dundas St., 1 East Mall, and 270 The Kingsway.  Given its history as the original franchise location, the deal holds considerable significance—a factor that made choosing the right successor even more critical. 

“The legacy will carry forward under Tariq’s guidance and direction,” says Alexander.  “ As a broker-owner, he invests in the growth and success of every realtor working under his banner.  From innovative storefronts, cutting-edge training and development modules to the ongoing advancement of education and professional standards, Tariq has demonstrated a solid investment in the future of RE/MAX Legacy and the overall industry. From a consumer perspective, he leaves no stone unturned in an effort to support and deliver the ideal real estate experience. There’s no question that he is the leader that will grow the business beyond our wildest expectations.  He shares the kind of vision and drive upon which RE/MAX was founded.”

The deal solidifies RE/MAX Legacy expansion plans already in motion. In addition to the 80-plus agents at its successful North Mississauga location, the newly-acquired Dundas St. office in South Mississauga will add upwards of 115 realtors to the fold.  The 11,000 sq. ft. facility will be fully renovated and technology-driven, serving as the company’s new head office and defining flagship location.  In early April, the franchise will open an additional office within Square One Shopping Centre, completing RE/MAX Legacy’s city-wide coverage from north to south and further increasing both franchise visibility and accessibility.  Together, the three RE/MAX Legacy offices will revolutionize the traditional process, introducing consumers to a new age of real estate practice, with a greater array of tools and benefits at hand.  Within 12 to 18 months of opening the Square One location, RE/MAX Legacy’s sales force is expected to climb to 300 professional realtors.

For his part, Khursheed is honoured to have been chosen as the successor.  “The vote of confidence is humbling.  It only strengthens my resolve to bring RE/MAX Legacy to the next level.  The pioneers and leaders of our industry—like Frank Polzler and the Alexanders—have always known that the future of this business, undeniably, rests upon the integrity of the cornerstones laid down.  I’m proud to uphold their respected values and unwavering dedication to delivering the highest quality programs, services, support, and value proposition to those on all ends of the transaction.  RE/MAX Legacy has always been about exceeding the standard, enhancing the process, and, ultimately, increasing results.”

RE/MAX Legacy Realty Inc., located at 7070 Saint Barbara Blvd., opened its doors for business in 2010. The full-service brokerage, with a fully-integrated, in-house marketing arm, assists clients in all areas of real estate including residential, multi-family, investment, commercial, industrial and vacant land acquisition.  Its diverse sales force serves Mississauga’s multi-cultural marketplace in a multitude of languages.

RE/MAX is Canada’s leading real estate organization with over 18,500 sales associates situated throughout its more than 700 independently-owned and operated offices in Canada.  The RE/MAX network, now in its 38th year, is a global real estate system operating in 80 countries, with over 6,200 independently-owned offices and over 89,000 member sales associates.  RE/MAX realtors lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management.  For more information, visit: www.remax.ca

End of Press Release

RE/MAX Legacy at SQ ONE

Re/Max Legacy Realty Inc.'s two branch offices in SQ ONE area include my real estate office at 220 Burnhamthopre Rd W #102 (on South side of Burnhamthorpe Rd W, fronting SQ ONE Mall). If you are thinking of buying, selling, renting or investing in Square One area, give me call.

It’s rare to put a newspaper down these days without reading an article on the Canadian housing market; and even rarer to read something that does not suggest an imminent collapse. But, like any issue that is as broad and complex as housing, there is more than what meets the eye. A  closer analysis or scrutiny can help provide valuable perspective. BMO's special report, "Will Canada’s Housing Boom Forge On, Fizzle Out, or Flame Out?" demystifies some myths about the Canadian housing market.
 
My two cents: Rather then focusing on national housing market reports, an informed and intelligent home buyer should look more closely on what's going in his/her local market or the market he/she wants to invest in. A good start would be to speak with a local real estate salesperson/broker who works in the respective markets, day in and day out.

Greater Toronto’s residential real estate market continued to make headlines in 2011, defying expectations and posting an increase in both sales and average price. Read full Re/Max housing outlook report

Tight inventory levels throughout much of the year led to a significant upswing in values, with average price expected to close the year at $465,000—up seven per cent over 2010. Home sales are forecast to climb to their second highest level on record—at 90,500 units—five per cent ahead of last year. Strong demand and limited supply set the stage for a year of multiple offers—with sellers firmly in the driver’s seat—from entry-level housing to the upper-end of the market.

Activity in suburban 905 communities (Mississauga, being a part 905 community) also increased as affordability and neighbourhood served to attract purchasers-given that a single-detached home in the 905 area code can sell for as much as 25 per cent less than a similar property in the 416 area code.

Several factors were in play in the GTA during 2011 that contributed to the overall health of the market. Job security spurred buyer confidence, low interest rates and stock market volatility. Foreign investors were exceptionally active in the new condominium market, seeking shelter in a global market.

As per the report, 32 per cent of residential MLS sales this year involved a resale condominium apartment or townhouse. Affordability remains the foremost driver, with the vast majority of condominium sales occurring under the $400,000 price point.

Some projections as per Re/Max

Toronto’s population is projected to rise from 2.72 million in 2010 to 3.36 million in 2036, an increase of 23.7 per cent. Other census divisions of the GTA (Durham, Halton, Peel and York) will experience a significantly faster growth rate. International immigration will drive population increase, while out-migration to other provinces is expected to taper. Unemployment levels remain above the provincial average, but the rate is expected to decline in 2012. The GTA is expected to lead the country’s largest CMAs, alongside Calgary, in real GDP growth this year, hovering at 3.1 per cent and 3.8 per cent respectively.

Heading into 2012, tight inventory levels and unrelenting demand should continue to buoy housing values. Home sales are expected to be strong, rising to 93,000 units by year-end 2012, on par with 2007’s peak performance. Average price is forecast to appreciate further, climbing five per cent to $488,000. Demand is expected to be consistent in virtually every price range as economic recovery ramps up, particularly in the mid to latter half of the year.

Condominiums should continue to enjoy solid activity, supported by a tight rental market and declining vacancy rates. Sales in the top-end of the market are expected to be especially brisk, as more and more purchasers choose a tangible asset like a principle residence over riskier investments in the stock market. A continuation of low interest rates should stimulate home buying activity well into 2012.