ByTheOwner
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| ByTheOwner.com | |
|---|---|
| Type | Private |
| Founded | Charny, QC (1997) |
| Headquarters | Quebec, Montreal, Toronto |
| Key people | Nicolas Bouchard, president and CEO |
| Industry | Real estate, advertising |
| Products | Real estate advertising services |
| Employees | 70+ |
| Website | www.ByTheOwner.com |
| French Website www.Duproprio.com | |
ByTheOwner is a Quebec-based For Sale By Owner advertising company that lets consumers buy and sell properties without using a real estate agent. Established in 1997 in Quebec City, the company began operation under the French website directduproprio.com. The French website was changed to Duproprio.com in 2005. The English website, ByTheOwner.com was registered in 2001. However, it was not until 2003 that the company expanded to Ontario in 2003, British Columbia in 2006, and Manitoba, Nova Scotia, and Prince Edward Island in 2007. The company claims to have sold more than 5,000 properties in 2007, which is approximately 1% of all the homes in Canada.[citation needed] In 2007 the company ranked #90 on Profit Magazines top 100 fastest growing Canadian companies [1][2], 2008 ByTheOwner.com ranked number 111 on Profit Magazines Fastest Growing [3].
The website – which charges a seller $300-$650 to list a home for six months – has 5,000 listings across Canada and boasts of six million page views a month.[4]
The Canadian Real Estate Association, 75% to 80% of homes in Canada were sold through brokers. Conversely, it would appear that "Sale by Owner" accounts for some 20% or 25% of the remainder.[5].
More owners selling their own property are using online marketing companies to advertise their properties.[6] Large commissions charged by real estate agents are a main reason that owners choose to sell their home without a real estate agent [7]
ByTheOwner's business model of promoting private real estate sales, differs from the more traditional real estate business model and companies such as Remax, Century 21 Real Estate, Royal Lepage.[citation needed] In the USA, companies such as Redfin are providing services that mix the traditional real estate business model with the For Sale By Owner business model.[citation needed]
ByTheOwner.com is the leading For Sale By Owner website in Canada with 680,000 unique visitors per month. [8]
[edit] References
- ^ McElgunn, Jim, "Seize the day!", Profit Magazine (Canada), June, 2007Retrieved 7 Dec 2007
- ^ Profit Magazine, "19th annual Profit 100 ranking of Canada's Fastest Growing Companies", Profit Magazine (Canada), June, 2007Retrieved 7 Dec 2007
- ^ Profit Magazine - 20th annual Fastest Growing Canadian Companies (Canada), June, 2008Retrieved 10 June 2008
- ^ Swainson, Gail, "Cheaper ways to sell gaining ground", Toronto Star (Toronto), Sept 15, 2007Retrieved 7 Dec 2007
- ^ Adkin, David, "Conducting the ultimate yard sale", Globe and Mail (Toronto), Sept 25, 2004Retrieved 19 April 2007
- ^ Dougherty, Sarah, "Turf war on the Web", Montreal Gazette (Montreal), Nov 17, 2007Retrieved 7 Dec 2007
- ^ CityNews.ca Staff, "How To Sell Your Home Online", City TV News (Toronto), Aug 1, 2006Retrieved 7 Dec 2007
- ^ Bert Archer, "Free Agent", "Toronto Life Magazine" (Toronto), MArch 2008Retrieved 22 Feb 2007
