A real estate project in your future? Whether you wish to call a broker to assist you throughout your transaction, or you decided to take the DIY route, many options are available. Unlike Centris, which groups listings from all Quebec-based brokers, DuProprio positions itself as the leader in transactions between individuals. Although popular amongst Quebec buyers and sellers, the business is a confusing puzzle for its action holders.<\/p>\n
By definition, a puzzle is a problem that\u2019s unsolvable or really difficult to solve. Is this perfect to describe Du Proprio? After being sold multiple times, it now belongs to Desjardins. Some see a conflict of interest with repercussions on its members and property buyers. Is that really the case? Let\u2019s have a look around DuProprio.<\/p>\n
Founded in L\u00e9vis in 1997 by Nicolas Bouchard, the direct real estate sales business DuProprio was first sold to a subsidiary of Power Corporation. This company, which once owned newspaper La Presse, did not manage to make a return on its investment. DuProprio was therefore taken over by Pages Jaunes (Yellow Page), a digital solutions and marketing service. But it didn\u2019t work anymore. Once again, the company was sold to a British group, Purplebricks Group, which itself sold it to Desjardins for $60.5\u00a0million on July 15, 2020. While being a headache, DuProprio is also a more than being a headache, DuProprio is finally a buck that has gone through many hands for over 20 years.<\/p>\n
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According to Desjardins\u2019s CEO, Mr.\u00a0Guy Cormier, it was natural that Desjardins supports their members and consumers who wish to buy or to sell a property due to Desjardins\u2019s collaborative nature. For Desjardins\u2019s VP of growth, acquisition and development, Martin Brunelle, it was in line with their diversification strategy. Basically, it was to answer the needs of its members.<\/p>\n
However, since the announcement of the transaction, many real estate players and observers have been wondering. Even more since Desjardins became the main holder of Reno-Assistance a website to receive renovation quotes in 2020.<\/p>\n
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Imagine that we are encouraging a DuProprio customer to call Desjardins to finance their mortgage and their insurance. You want to improve your home? No problem, we direct you to RenoAssistance. Don\u2019t you see the risk of a conflict of interest? Also, do you believe that Desjardins isn\u2019t getting any financial gain when you use RenoAssistance? In both cases, the financial institution is cosplaying as an entrepreneur instead of staying in the lane of his main mission. Nonetheless, keep in mind that the true reason of this strategy is the value of your data, the same one that Desjardins was not able to keep safe and which has touched over 8M of people.<\/p>\n
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Indeed, we can\u2019t forget that Desjardins is financial cooperative. When you join Desjardins, you become a co-owner. Therefore, when Desjardins buy a business like DuProprio or become an action holder of RenoAssistance, it uses their members\u2019 money.<\/p>\n
So, we must ask ourselves: is it legitimate that a bank, like Mouvement Desjardins to diversify their activities in the real estate and home improvement area? Why would they want to diversify their area of expertise? For the quality of the data gotten from the diversification. Data that can be used in insurance or investment, for example.<\/p>\n
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In 2020, while Mouvement Desjardins was buying out DuProprio in Quebec, she was also buying out PurpleBricks Canada. Now known as FairSquare, Purplebricks Canada was an active brokerage outside Quebec, mostly in Ontario, in Manitoba and in Alberta.<\/p>\n
However, we learned that Desjardins decided to close FairSquare last February. Isn\u2019t that puzzling? Let\u2019s bet that this is only the tip of the iceberg!<\/p>\n
Want to talk about it? Don\u2019t hesitate to call me: 514-975-1133.<\/p>\n","protected":false},"excerpt":{"rendered":"
DuProprio\u2019s Puzzle A real estate project in your future? Whether you wish to call a broker to assist you throughout your transaction, or you decided to take the DIY route, many options are available. Unlike Centris, which groups listings from all Quebec-based brokers, DuProprio positions itself as the leader in transactions between individuals. Although popular […]<\/p>\n","protected":false},"author":1,"featured_media":2208,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-1378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-immobilier"],"acf":[],"yoast_head":"\n