Hallmark Realty is sporting a “SOLD” sign this week after 36 years in Saskatoon.
The city’s largest independent brokerage was bought out by Royal LePage realty.
“It came as a surprise to me,” said Jason Yochim, CEO of Saskatoon Region Association of Realtors. “I guess that’s the nature of the transaction. It has to be confidential until the end.”
The move, which was announced Wednesday, more than doubles the number of Royal LePage agents in Saskatoon and significantly increases the national company’s presence in the city.
“This, I believe, will place Royal LePage at number two, right behind Re/Max,” said Yochim, referring to brokerage size.
Hallmark was established in 1979 and the sale was bittersweet for Don McIvor, a long-time broker and owner with the company.
“Anybody who was there yesterday at the announcement will be able to tell you I was a little overemotional,” McIvor said Thursday. “My speech didn’t flow as smoothly as I would have liked because I deeply care about this company.”
McIvor joined Hallmark in 1984 and became part owner in 1995. He said the sale opportunity was too big to pass up.
“Hallmark’s been around for quite a while,” he said. “It’s a long-standing company in the community and doing quite well, I might say, but when this opportunity arose, it became apparent that there were too many benefits to ignore.”
The company was bought by Gary Emde and Norm Fisher, two existing Royal LePage franchise owners in Saskatoon.
Emde owns Royal LePage Varsity and Fisher owns Royal LePage Vidorra. The new franchise, the fourth Royal LePage brokerage in Saskatoon, will be called Royal LePage Hallmark.
“Nothing is changing. The only thing that is changing is our sign colours,” said McIvor, who is now a broker and manager at the new brokerage.
Eighty Hallmark agents will join 56 agents already with Royal LePage in Saskatoon.
Royal LePage is one of Canada’s largest real estate companies with about 16,000 agents across the country.
