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Local real estate companies to merge

A pair of local real estate companies are coming together
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20161020 business

NEWS RELEASE

REALTY EXECUTIVES

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One of Northern Ontario’s largest independent real estate companies has merged with the Realty Executives’ office in Sault Ste. Marie.

The announcement was made by Scott Gilmour, president of Realty Executives Regional.

“I am pleased to welcome to our team, the independent brokerage Castle Realty Ltd., which has merged with our Realty Executives Algoma Ltd, brokerage in Sault Ste. Marie,” stated Gilmour.

The newly formed company will be called Realty Executives Castle Alliance Ltd., brokerage.

“It is a win – win for both companies,” said Ross Viotto of REX Algoma. "The expanded office will give our realtors a greater visibility in the market and create efficiencies that will benefit our agents, owners and our clients.”

Dave Butkovich, owner of Castle Realty agreed.

“I have examined the possibilities from every angle and there is no downside,” said Butkovich. “This merger will bring together the knowledge and experience of our agents and the dynamic set of proprietary tools and integrated technology of Realty Executives.

"There are serious economies of scale to be gained by working with a franchisor, who offers a great brand, marketing, training and turnkey technology solutions—as long as they’re offered at a reasonable price and on flexible terms, which they are,” he added.

Under the new management structure the Broker Owner will be Dave Butkovich, the Broker of Record will be Paul Del Bel. Ross Viotto will be responsible for staff development. The alliance brings 18 new agents under the Realty Executives banner. Together, the office supports 25 executives making it a major player in SSM and the Algoma District.

Castle Realty was founded in 1979 and is Sault Ste. Marie’s most long established real estate organization The company includes the property management firm of Fleming & Smith, which dates back to the 1960s. This division of Castle manages over 800 properties.

Realty Executives entered the Sault Ste. Marie real estate market in 2014. Since that time the company has expanded its roster and market share. Realty Executives International is a privately owned company founded in 1965. It is the second oldest International real estate firm. The company currently has over 100 offices in Canada and 8,000 agents globally. Recently, it announced in REM Magazine that it will invest $10 Million to further grow its Canadian brand.

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