FairSquare Group Realty, formerly known as Purplebricks, announced on Thursday that it will no longer be accepting new business.
The company, which has its roots as a for-sale-by-owner company, has evolved into a full-service brokerage that charges a fixed fee to clients. It has undergone several evolutions and rebrands over the years.
The company, which has its roots as a for-sale-by-owner company, has evolved into a full-service brokerage that charges a fixed fee to clients. It has undergone several evolutions and rebrands over the years.
Multiple rebrands
In 2009, DuProprio in Quebec acquired other for-sale-by-owner businesses throughout Canada, and these companies were later renamed ComFree outside of Quebec.
Then in June 2018, UK-based Purplebricks acquired both DuProprio and ComFree and officially launched operations in Canada in January 2019. ComFree was eventually rebranded as Purplebricks.
However, in July 2020, Desjardins Group acquired Purplebricks’ Canadian holding company, including its two brands—Purplebricks Canada and DuProprio—and later rebranded it as FairSquare in January 2022.
From FSBO to full-service brokerage
In an interview in January 2022, Pascal Laflamme, president of FairSquare, told Real Estate Magazine attributed the company’s changing business model to customers’ needs.
“Now it’s a full-service brokerage with the difference that we are working as a team instead of as individual, self-employed realtors,” Laflamme told REM.
“We’re charging a fixed fee on our side. So our part of the selling commission is fixed no matter what the home value is, and of course, our sellers are offering buyer/agent commission that varies from market to market.
At the time of the interview, Laflamme said FairSquare was operating in Edmonton, Calgary, Winnipeg, the Greater Toronto Area, Ottawa, Windsor and the Niagara Peninsula, with plans to expand to Sudbury, Ont. The company’s headquarters is in Stoney Creek, Ont.
The future of FairSquare
A spokesperson for DuProprio confirmed Friday that operations will continue as usual for the Quebec company.
FairSquare still has dozens of active listings in Ontario, Manitoba and Alberta on Realtor.ca, with one of the most recent posted six days ago.
It’s unclear how business operations will be impacted moving forward. Despite repeated attempts to contact the company for comment, FairSquare did not respond in time for REM’s publication deadline.
In 2009, DuProprio in Quebec acquired other for-sale-by-owner businesses throughout Canada, and these companies were later renamed ComFree outside of Quebec.
Then in June 2018, UK-based Purplebricks acquired both DuProprio and ComFree and officially launched operations in Canada in January 2019. ComFree was eventually rebranded as Purplebricks.
However, in July 2020, Desjardins Group acquired Purplebricks’ Canadian holding company, including its two brands—Purplebricks Canada and DuProprio—and later rebranded it as FairSquare in January 2022.
From FSBO to full-service brokerage
In an interview in January 2022, Pascal Laflamme, president of FairSquare, told Real Estate Magazine attributed the company’s changing business model to customers’ needs.
“Now it’s a full-service brokerage with the difference that we are working as a team instead of as individual, self-employed realtors,” Laflamme told REM.
“We’re charging a fixed fee on our side. So our part of the selling commission is fixed no matter what the home value is, and of course, our sellers are offering buyer/agent commission that varies from market to market.
At the time of the interview, Laflamme said FairSquare was operating in Edmonton, Calgary, Winnipeg, the Greater Toronto Area, Ottawa, Windsor and the Niagara Peninsula, with plans to expand to Sudbury, Ont. The company’s headquarters is in Stoney Creek, Ont.
The future of FairSquare
A spokesperson for DuProprio confirmed Friday that operations will continue as usual for the Quebec company.
FairSquare still has dozens of active listings in Ontario, Manitoba and Alberta on Realtor.ca, with one of the most recent posted six days ago.
It’s unclear how business operations will be impacted moving forward. Despite repeated attempts to contact the company for comment, FairSquare did not respond in time for REM’s publication deadline.
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