As Vancouver’s real estate market becomes increasingly globalized, one of the city’s most prominent real estate services firm is looking beyond B.C. for its next phase of growth.
On Wednesday, Rennie announced that it is expanding its footprint across North America through a new strategic partnership with global boutique real estate brokerage The Agency. The partnership gives Rennie access to The Agency’s network of more than 3,500 agents across 14 countries, allowing the company to extend its development advisory, marketing and sales business beyond its existing markets in the Pacific Coast including Vancouver, Victoria, Kelowna, Seattle and Palm Springs.
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In a press release, Rennie said the move marks a “natural next step” for the company and will focus on expanding Rennie’s development expertise into new cities across North America while maintaining its existing operating model.
According to president Greg Zayadi, the partnership emerged organically as the company expanded its work in markets including California and Washington. Zayadi said he first met Mauricio Umansky, CEO and founder of The Agency, roughly a year and a half ago through a mutual connection, before the two companies began collaborating on projects together.
“It was one of those things where the timing was right, the opportunity was right,” Zayadi told BCBusiness. “The reality is the people are really great to work with.” He added that The Agency’s international footprint was a major draw for Rennie as it looks to scale its project marketing business beyond Western Canada. “The ability to partner with a company that has geographic reach… allows us to take what we do—our people, our process and our platform—and partner with them on that,” he said.
The agreement also deepens an existing relationship between the two firms. Zayadi said the companies have already collaborated on projects in Hawaii, New York, Washington and California, with additional opportunities emerging in Mexico and Panama.
The partnership comes as Vancouver developers continue to navigate a slower and more competitive housing market, where attracting international buyers has become increasingly important. “Developers today require more than traditional sales—they need a partner who can anticipate market shifts and connect with buyers on a global scale,” said Umansky in the release.
