Management Company

Brookfield Real Estate Services Inc. (the “Company”) is managed by Brookfield Real Estate Services Manager Limited (the “Manager’), a wholly owned subsidiary of Brookfield Asset Management Inc. (”BAM”). The senior management team of the Manager developed and managed the Royal LePage network prior to the inception in 2003 of the Brookfield Real Estate Services Fund, an income trust which converted to a corporate structure effective January 1, 2011. BAM holds an approximate 26% interest in the Company through a wholly-owned subsidiary. The services and management of the Company are delivered through a Management Services Agreement (“MSA”) with the Manager. As a result of this arrangement, the underlying costs of the Company are limited to management fees paid under the MSA, public operating costs and carrying costs associated with its debt.

The Manager carries out the Company’s strategy, which is to continue to grow by expanding the Company’s REALTOR®¹ network through organic agent recruitment, improving agent retention rates, increasing REALTOR® productivity, and through acquisitions which are presented to the Company for purchase when they meet certain criteria. In 2008, the Manager acquired Quebec-based real estate franchise system Via Capitale Real Estate Network, subsequently selling Via Capitale franchise agreements to the Company as they met the criteria.

Also in 2008 – an economically difficult time - the Manager acquired U.S.-based GMAC Real Estate, a rare opportunity, allowing it to quickly establish a national U.S. footprint of leading national brokerage firms. In 2009, the Manager acquired U.S.-based Real Living Network Services, an innovative real estate franchise network. In 2010, the Manager worked to convert GMAC Real Estate franchises to the Real Living brand, creating one of the largest real estate networks in the United States. While there are no immediate plans to present these U.S. operations to the Company for acquisition, these closely related businesses remain areas of interesting possibilities for the Company’s growth.

For more information on the Manager, please click here.