Much more than just the name is changing at Bradford’s Metro King Realty, but owner and local real estate broker Iftikhar Ahmad remains at the helm.
Ahmad merged Metro King in mid June to become the manager of one of 18 branches in Ontario with the growing iPro Realty Ltd. brokerage, which is based out of Toronto, and is set to host a grand opening of the newly renovated offices in unit 203 at 152 Holland St. E. on Oct. 23 from noon to 4 p.m.
The event is set to include visits from dignitaries and a ribbon cutting at 1:30 p.m. as well as refreshments, snacks, wine and cheese.
Ahmad said he’s been a broker for about 18 years and operated Metro King in town for the last 12, but saw the opportunity to join a bigger brand and bring more services to clients.
“It is very difficult, because it took about 12 years to make that name, but due to the growing demands of the market, we have to modernize,” he said, adding that he still keeps some of the old logos and signage in his home for the sentimental value.
The office now has a new board room, meeting spaces and work stations for the branch’s 15 agents, many of whom recently joined. Thanks to key fobs and electronic locks, Ahmad explained agents have 24/7 access, meaning they can meet with clients after hours, and iPro’s more than 2,300 agents can visit and work in any of the branches if needed.
Through iPro, Ahmad explained branches also have access to a central office that can help with paperwork and legal documents as well as a specialized team to help clients looking for commercial properties.
There’s even a concierge service for agents that provides third-party professionals for lock boxes, sign installations, feature sheets, virtual tours, photos, post cards, door hangers, accountants, lawyers and more, according to Sarmad Iftikhar, Ahmad’s son who has been working with him as a broker for about 2.5 years.
“It saves them time, and then they can better serve their clients and focus on selling or helping their clients,” he said.
Mirroring that is a list of recommended vendors optional for clients, intended to make it simpler and easier for them to find the right people to help get things done in advance of buying or selling a home, including: accountants, contractors, short-term loans, environmental studies, insurance, home inspections, lawyers, locksmiths, mortgage brokers and movers.
Compared with other brokerages, Ahmad said agents with iPro keep 100 per cent of the commissions they earn, without any split to the brokerage, and instead pay a flat rate of about $425 per deal, decreasing to an even lower rate after 10 deals.
Plus, he emphasized iPro charges fewer fees to their agents, all of which means fewer costs get passed down onto the clients.
“These are the benefits to the agents which are indirect benefits to the clients also,” Ahmad said. “That’s the biggest change in iPro.”
That’s allowed him to attract “top-notch” talent to help buyers and sellers navigate the market, in which interest rates are still keeping mortgages pricey, leading to homes sitting on the market for longer without much reduction in price, according to Ahmad.
“Every price is still quite high in Bradford,” he said. “People don’t want to lose the money.”
Similar findings were recently release by the Barrie and District Association of Realtors.
Prior to interest rates increasing, Ahmad said he would see about 80 to 90 homes for sale on a daily basis, but now, “it’s almost double that.”
He and Iftikhar are both optimistic the Bank of Canada will continue the rate cuts which began in June, likely leading to a better situation in time for spring, when the market typically picks up.
For more information about the Bradford branch, call 905-895-2882.
