Re/Max Integra, a Canadian-owned Re/Max subfranchisor, is terminating its franchise agreement with a 327-agent brokerage in the Toronto suburbs, Mississauga-based Re/Max Legacy Realty, citing “ongoing and unresolved business issues with the brokerage owner.”
Re/Max Integra, which also owns two Re/Max franchise regions in the U.S. and claims to provide services to nearly one-third of Re/Max agents worldwide, said two other Re/Max brokerages will open two new offices in Mississauga.
Conrad Zurini of Re/Max Escarpment Realty Inc. and Raneen Dhadli of Re/Max Edge Realty Inc. will combine operations into a single brokerage serving southern Mississauga. Zurini and Dhadli, who operate 10 offices, will do business as Re/Max Edge Realty and open a new office in the southwest corner of the city.
Re/Max Realty Services Inc., which operates three offices in the Brampton area, will open a new office in the north end of Mississauga.
In a press release, Re/Max Integra claimed Re/Max Legacy “had been in arrears since September” and owed “substantial franchise fees.”
Re/Max Legacy’s owner and broker-manager did not immediately respond to requests for comment. But the brokerage’s website, which lists 327 agents, was up and running Wednesday.
Last month Boston-based brokerage Re/Max Prestige dropped its Re/Max affiliation and rebranded 14 offices and 280 agents as Laer Realty Partners. Re/Max Integra, which owns Re/Max franchising rights in New England, claims the brokerage’s owners broke their franchise agreement.
Privately owned by Canadian entrepreneurs, Re/Max Integra provides franchise services to nearly 10,000 agents in the Ontario-Atlantic Canada region, and more than 6,000 Re/Max agents in the U.S. In addition to New England, Re/Max Integra owns Re/Max franchising rights in the Midwest region, which includes Minnesota, Wisconsin and Indiana.