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Desjardins Scraps FairSquare Realty Amid Housing Market Woes

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As a result of the slowing housing market, Desjardins has announced the shutdown of FairSquare Group Realty - less than three years after acquiring the company. DesjardinsGroup | _FairSquare | realestate realestatenews housingmarket

“Please be advised that FairSquare Group Realty is no longer accepting new business,” the brokerage’s social media pages and website read, as of Thursday.

“the rapid deterioration of the housing market and its business model do not allow us to continue operations.”UK-based Purplebricks sold its Canadian subsidiary to Desjardins in July 2020 for just over $60M, with Desjardins later rebranding the online brokerage to FairSquare in January of last year. The 2020 sale also included Quebec-based Duproprio, which Purplebricks had acquired in 2018. Despite the FairSquare shutdown, Desjardins will continue Duproprio’s operations.

 

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Desjardins Group shuts down FairSquare Realty, blames slow housing marketFairSquare, which was previously called Purplebricks, said on its website that it was no longer accepting new business
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