Brokerage sees rapid growth by offering ownership stake

Get smarter. Grow your referral network at Inman Connect San Francisco
Limited seating still available, July 17-20

A commercial real estate services firm headquartered in Canada is growing in far-flung markets including Florida by employing a business model that offers shareholder status to real estate firm owners and veteran professionals who join the company. In four years, Toronto-based Avison Young has grown from 300 people and 11 offices to 1,300 employees in 53 offices, Florida Trend reports.

In a recent four-part series for Inman News, Imprev CEO Renwick Congdon suggested that residential brokers consider employing a business model in which they recruit “agent-owners” who would find investors and create their own limited liability companies (LLCs).

“This structure could satisfy the craving for ‘ownership’ that’s attractive to the entrepreneurs of tomorrow, but which is elusive in the current broker-and-agent structure,” Congdon said. Source: floridatrend.com.