Canadian real estate disruptor picks Arizona as first U.S. market

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Whether you think you can, or you think you can’t—you’re right.

 

Jun 24, 2016, 11:01am MST  Eric Jay Toll Reporter Phoenix Business Journal

A Canadian startup that has been disrupting real estate transactions north of the border has picked Arizona as the site for its first foray into the U.S.

FeeDuck, which has created a platform where real estate agents bid for home sellers’ listings, will launch in Arizona this summer.

Originally, according to sources, feeDuck was exploring Los Angeles or New York to enter the U.S. market, but when said co-founder Sharn Kandolaconnected with a staff member of Gov. Doug Ducey’s staff during an entrepreneur summit in San Francisco, she became intrigued by Arizona’s openness to disruptive businesses.

“Arizona’s openness to disruptive business caught our attention,” she said. “We consider ourselves a disruptor, and started looking more at Arizona.”

The large number of Canadian homeowners in the Phoenix area was one reason for choosing it as its first U.S. market, Kandola said.

“When we did the analysis, we saw the Phoenix was a lot like our major Canadian cities,” said Kandola. “That makes an expansion across the border easier.”

That large contingency of Canadian homeowners and visitors in Arizona makes the state appealing for Canadian businesses, said Glenn Williamson, CEO and founder of the Canada Arizona Business Council.

“It’s the comfort feeling between the U.S. and Canada,” said Williamson. “There is a high-level of congeniality between the Arizona state and city leadership with Canadians. It makes Arizona appealing to Canadian companies.”

Arizona Commerce Authority provided some market analysis for Kandola, and Ducey’s office connected feeDuck with state real estate regulators and others in the brokerage community.

FeeDuck seeks out and pre-qualifies agents for its list. It turns away about two-thirds of the applicants in Canada. They are starting to vet agents in Arizona ahead of an August public rollout.

“We must be doing something right because our average agent is getting an approval rating of 4.3 out of 5 stars after the transactions,” Kandola said.

The startup was fully bootstrapped, and is moving toward its first round of angel capital investment. During last year’s Business News Network program “The Disruptors,” a Canadian reality television competition, feeDuck had the third highest number of viewer votes.

The company will ultimately need a footprint in the U.S., and by starting in Phoenix the governor’s office hopes Arizona will have the home field advantage in site selection for the eventual regional headquarters.

“We’re still in a startup mode,” said Kandola. “But we’re looking at an Arizona office as we grow.”

Eric covers economic development, banking and finance, infrastructure, transportation and utilities.

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Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950

http://walter-unger.com/why-phoenix-2/

 

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Timeline of Phoenix, Arizona history

 

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Phoenix, Arizona

 

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  1. Interactive Map Of All 10+ Unit Apartment Listings in Metro Phoenix

http://www.easymapmaker.com/map/28cb3b8b3206c377a6f282d980dc7974

 

  1. Interactive  Metro Phoenix Map of New Apartment Construction by Completion Status

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Walter Unger CCIM, CCSS, CCLS

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