Sutton, myAbode Partnership Unites 12,000 Brokers on One Platform
A new partnership between myAbode and Sutton Group will bring more than 12,000 real estate agents onto a single technology platform in Canada.
The collaboration combines a predominantly proptech firm with a well-established real estate player. Toronto-based myAbode announced that it has made a strategic investment in Sutton, combining the brokerage network with myAbode’s technology and operational infrastructure to create one of the country’s largest technology-enabled real estate ecosystems.
Although it is primarily a proptech firm, myAbode also owned brokerage firms Right at Home Realty, Property.ca, Condos.ca, MrLOFT.ca and First.
The combined network represents more than 12,000 agents operating on one platform and handles more than 60,000 transactions annually, representing hundreds of billions of dollars in real estate volume, according to the companies, said the companies.
As a result of the acquisition, Sutton CEO Ross McCredie will join the myAbode board. Meanwhile, James Innis, Sutton’s president and chief operating officer will add the myAbode chief investment officer role to his duties and head its national brokerage operations.
“By combining James’ diverse skill set with Ross’ deep-rooted real estate expertise and vision, we’re uniting under a shared technology,” said Bronwyn Smith, CEO of myAbode, adding that the move marks a step forward for the real estate industry. “By growing our network, we will provide agents with more referrals, expanded connections, and technology innovation.”
Smith will also join myAbode’s board. The companies said the partnership is aimed at shifting the role of real estate agents from transaction-focused work toward an advisory model supported by data and technology tools.
“This partnership gives our partners, agents and the myAbode agent network the operational strength and cutting-edge technology they need to lead our industry,” said McCredie.
“This is the combination of capital, operating expertise, and technology the industry needs. We are building a unique digital platform based on trust,” added Innis.
MyAbode provides operational infrastructure for residential real estate brokerages, including deal-processing and compliance services, while Sutton Group operates a nationwide brokerage network founded in 1983.
Pictured: Sutton West Coast Realty location in Vancouver’s Killarney Shopping Centre
Photo: Sutton
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