Drew and Jonathan Scott, of HGTV’S Property Brothers, have announced a new partnership with Toronto-based real estate tech company Properly. The duo have reportedly become financial investors in the startup as well, though financial terms were not disclosed.
According to the Betakit, Jonathan Scott called Properly “a real estate brokerage for the modern consumer, putting people in charge of the biggest financial decision of their lives. That’s why we’re not just partnering with Properly—we’re investing in the company as well.”
Properly provides its customers with a Sales Assurance contract to sell their homes. Prospective buyers can take the contract to any financial institution in Canada, and receive the capital they need to buy their home with an unconditional offer.
Once the buyers have bought their new home, Properly lists their old house on the market, guaranteeing that if the house doesn’t sell within 90 days, Properly will buy it at an agreed-upon price.
“We’ve been in real estate since we were 18 years old. we’ve seen all the headaches,” Jonathan Scott said in a Properly press release. “We always knew there had to be a better way for people to buy and sell, and with Properly, there finally is.”
One year ago, Properly announced that it had raised $100 million in funding for a product that brings the iBuyer model to Canada.