Royal LePage office in Avenida Mall goes bankrupt

[Red]

Royal LePage Foothills that is, not the mall. The head office in Toronto says that the economy had a part in that. How bad is the RE market really?

http://globalnews.ca/news/2401060/ro...erta-branches/

[killer_carlson]

What?


So is the whole mall bankrupt or is it the Royal Lepage brokerage?

[undercoverbrother]

It always seemed like an odd place to me. Good concept for a warm climate, but not many people going to go shop to shop in the winter, when they can go to a mall.

[Red]

I guess the title is misleading a bit. It's the Royal LePage office in that mall that closed. 160 some realtors out of work.

[Kavvy]

Originally Posted by Red

I guess the title is misleading a bit. It's the Royal LePage office in that mall that closed. 160 some realtors out of work.

title seemed fine to me "Royal LePage office in Avenida Mall goes bankrupt"

[KevanGuy]

I clarified the title.

[killer_carlson]

oh, ok.

I thought it was the entire mall.

[OMG!WTF!]

That's a lot of invalid listings. Realtors are going to be pulling their hair out trying to get this sorted out.

[llwhiteoutll]

Link

http://globalnews.ca/news/2401060/ro...erta-branches/

Originally Posted by Red

I guess the title is misleading a bit. It's the Royal LePage office in that mall that closed. 160 some realtors out of work.

They are going to two other brokerages, Benchmark and Solutions.

[Kjesse]

I've never heard of a realty brokerage of any real size going out of business like this. It looks bad on the Royal Lepage name IMHO.

[corporatejay]

Originally Posted by Red

I guess the title is misleading a bit. It's the Royal LePage office in that mall that closed. 160 some realtors out of work.

That's not really true, I understand the realtors are all basically independent businesses so they're just going to transition their listings to a different brokerage. No dead listings, as far as clients are concerned I don't think they'll even notice.

[Sakic19]

It will just be a different company name on the bus bench ads with mustaches drawn on.

[Canehdianman]

Yeah, this is a non-story.

[OMG!WTF!]

How do you go bankrupt when your employees pay you?

[Frank MetaMusil]

Originally Posted by Sakic19

It will just be a different company name on the bus bench ads with mustaches drawn on.

Tanya Eklund is an angel. I've had a few realtor friends bold enough to try the portrait bench ads on 17th.

[schooner]

Originally Posted by Delgar

I've never heard of a realty brokerage of any real size going out of business like this. It looks bad on the Royal Lepage name IMHO.

Ultimately they run like independent contractors. The best thing I can think of is the Honda dealer going under when my parents had a pending deal with the vehicle on the train ready to deliver (Literally got the notice a day before delivery).

They called up the next three closest dealers and said they would go with anybody who could honour the deal and made it happen.

[FireGilbert]

The Kam Han is still there right? I will need my ginger beef fix the next time I'm in town!

[Northendzone]

[ranchlandsselling]

Wondering how Garth Turner will spin this.

[Ducay]

This is just one franchisee office using the RL name. There are other RL offices in Calgary taking the employees and should be no real impact.

Imagine it was likely issues with the office owner & their agreement than RL than them "going under".