Canada's Sutton Group Realty to be under new ownership
One of Canada’s largest real estate brokerage companies will soon be under new ownership, with McCredie Investments reaching a deal to buy Sutton Group Realty.
In a release, Sutton notes such a move will enable the company to improve its customer experience, use of technology, and fiduciary innovation.
Sutton, which is headquartered in Burnaby, has 200 brokerage offices across Canada and more than 6,000 agents, with annual sales volumes exceeding $35 billion.
“In signing this purchase agreement, we acknowledge and celebrate the legacy and achievements of Sutton Group. We extend our heartfelt gratitude to the vendors for their role in shaping this industry-leading organization,” said Ross McCredie, the principal of McCredie Investments, in a statement.
“Our intention is to build from the foundation of Sutton Group’s legacy. By leveraging advanced technologies, we envision a future where innovation meets responsibility, where new technologies enrich the real estate experience while ensuring unwavering dedication to meeting evolving needs and opportunities in the market.”
Vancouver-based McCredie was previously involved in the founding of real estate firms RealWealth, Dundee 360, and Sotheby’s International Realty Canada.
Sutton was founded in 1983, with its first office located in West Vancouver. By 1988, the company reached a size of about 1,000 realtors.
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