In an exciting development this month, the Coast Realtor team moved to combine their great strengths with the Royal LePage.group in Oceanside. For me, this represents a wonderful opportunity to strengthen the exposure of your home, and bring additional tools and resources to help buyers and sellers made the best decisions in all their real estate transactions. For more information, here’s a report on the sale from the Nanaimo Business News:
The Central Vancouver Island real estate industry was rocked July 21 when it was announced that Royal LePage Realty had purchased in its entirety rival company Coast Realty Group.“It all went off very positive. The growth of the two companies together is going to be very strong,” explained Blaine Froats, long time REALTOR® and one of the owners of the Coast Realty Group. “It will be affecting over 500 REALTORS® on Vancouver Island.”
In essence each individual Royal LePage franchise on Vancouver Island has now acquired the assets and presence of the Coast Realty Group office in their individual communities. As Froats explained, “Royal LePage Nanaimo Realty has bought Coast’s Nanaimo, Gabriola and Ladysmith office. Royal LePage Parksville took over the Port Alberni and Parksville operation and Ucluelet. Royal LePage in Courtenay took over Courtenay. Royal LePage in Campbell River took over Campbell River. The Royal LePage head office is on a temporary basis is taking over Powell River.”
Due to legal issues while the sale of the Powell River office has gone through, the transfer will not be taking place for 60 days. “The sale has gone through – all of our operations have been approved except
for Powell River which is pending. It will happen but it won’t for 60 days because of legalities with the Companies Act.”
Launched in 1984, Coast Realty had become the largest privately owned real estate company in the province, with nearly 160 REALTORS®, scattered all across Vancouver Island from Ladysmith in the south to Campbell River in the north, including its office in Powell River on the Mainland.