BrokerageIndustry News

Toronto market sees first VOW operator

Real estate board's dispute with regulators drags on

Editor's note: This story has been updated to note that TheRedPin.com is a full-service brokerage offering commission rebates. Two months after announcing it would allow its 32,000 members to operate password-protected Virtual Office Websites (VOWs), the Toronto Real Estate Board is providing VOW feeds to more than 40 members.Discount brokerage TheRedPin.com Realty Inc. says it was the first and only VOW operator in the Toronto market when it went live last month with a feed from TREB, Canada's largest real estate board. "We have more leads than our agents can handle right now," said Rokham Sadeghnezhadfard, co-founder and chief marketing officer of TheRedPin.com.Sadeghnezhadfard said the startup is in the process of hiring more agents to handle the leads generated by the company's website, which now offers registered users access to in-depth VOW data on 21,000 resale listings, plus information on 13,000 new condominiums.When it launched in September 2010, TheRedPin.com was ...