Broker-Owned Firm Expands Reach in Canada

VANCOUVER, BC-A group of former senior members of Torode Realty Ltd. have completed their acquisition of the company’s commercial brokerage operations with the purchase of Torode Realty Vancouver. The group previously acquired Torode Realty Edmonton and Torode Realty Calgary.

The group currently has 14 shareholders, each with equal stake in the company. Company president and broker David Wallach tells GlobeSt.com that the acquisition of the local operation follows the stabilization of the previous acquisitions. As of Sept. 15, he says, the offices have eclipsed the annual revenue they generated in each of the past two years.

Wallach says that current ownership will seek to take on additional shareholders from within the city’s employee base. The opportunity will be given to brokers who perform over a period of time and have the right personality. “We continually strive to create an environment that rewards success,” says Wallach. “By keeping the ownership within our employee base, we ultimately control its success.”