Business
Bridgemarq Real Estate Services Announces Interim Royalty Fee Structures to Network
Bridgemarq Real Estate Services Announces Interim Royalty Fee Structures to Network ...
About this update from Bridgemarq Real Estate Services, Inc.
[{"type":"text","content":"\n\n\n\nBridgemarq Real Estate Services Announces Interim Royalty Fee Structures to Network\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 27, 2020\n\n\n\nTORONTO, March 27, 2020 /CNW/ - Bridgemarq Real Estate Services Inc. (\"Bridgemarq\" or the \"Company\") (TSX: BRE) a leading provider of services to residential real estate brokers and their REALTORS®1, today announced temporary changes to the franchise fees it charges its network of real estate brokerages across Canada. These actions were taken to support the business operations and maintain the network strength of both the Royal LePage and Via Capitale brokerage networks during the uncertain challenging conditions emerging from the spread of COVID-19 as well as position both brands for growth.\nCurrently, Royal LePage franchisees pay fixed franchise fees of $128-$133 per month, per REALTOR® plus a variable franchise fee of 1% of each REALTORS® annual gross commission income (\"GCI\") up to a maximum variable franchise fee of $1,400 per year. For those REALTORS® in the Royal LePage network that operate in teams, total fees for the team are calculated as fixed franchise fees of $128-$133 per month, per team member plus a variable franchise fee of 1% of the annual GCI generated by the team, up to a maximum variable franchise fee of $1,400 per year. REALTORS® who participate in the Royal LePage commercial program pay an additional monthly fixed franchise fee of $100.\nFor the period from April 1, 2020 through December 31, 2020, Royal LePage franchisees will be permitted to participate in a temporary franchise fee structure which has been designed in response to the challenging economic situation created by the COVID-19 pandemic.  Under the temporary plan, franchisees will pay franchise fees to the Company calculated as follows:       \nFixed franchise fees will be temporarily suspended. Variable franchise fees for individual REALTORS® who do not participate in the commercial program will be calculated as 3% of G...