September 21, 2023


Taste the Home & Environment

Merging legacy with innovation: Melinda Wu acquires Re/Max Goldenway

Melinda Wu was 14 several years old when she went home hunting with her dad and mom. They uncovered a dwelling, and she discovered her enthusiasm.
She bought her genuine estate licence in 2012 and squandered no time after she became an agent.
Wu opened her first brokerage, Re/Max Atrium Property, in Markham, Ont. in 2020, determined from the outset to increase her brokerage speedily. So when the possibility arose to get famous Re/Max Goldenway from serious estate veterans Eric Chan and Steve Ng, she was satisfied. But she was also unhappy.


The acquisition


“Goldenway is unique. It is the oldest Asian-owned brokerage. It opened for enterprise in 1988,” states Wu, who was about a 12 months previous at the time.
“Eric and Steve are professional brokerage entrepreneurs. It was sad to hear that they ended up seeking to exit the sector,” she states. “However, they wanted an exit strategy, and we desired to increase quick.”
She claims it is a fantastic match with Goldenway’s expert agents and her young brokerage. “All of their agents are professional but outdated (in) technology, program and internet marketing methods. Our brokerage is youthful — the typical age is 32-years-outdated. We carry new engineering, enthusiasm, new items.”
The acquiring method was very long mainly because Chan and Ng were mindful in the negotiation method, wanting to defend what they experienced crafted, she claims. They have been in small business for a lot more than 30 years.
“Selling is a really hard final decision to make. Eric and Steve desired to make positive their agents were being looked after,” Wu suggests.
“We are very pleased of Eric and Steve for their dedication to expand the manufacturer and for often likely earlier mentioned and outside of to assistance their agents,” suggests Christopher Alexander, president, Re/Max Canada, in a news launch saying the acquisition.
Wu achieved with Goldenway’s present brokers and did a presentation. “I informed them what we do, and they have been amazed,” she says. “The transfer amount to Atrium is 95 for every cent. It is commonly close to 75 per cent.”


Atrium named prime-escalating brokerage for all of North The united states


Prior to the acquisition, Atrium experienced developed from three agents to 60 and, in 2022, was named the prime-escalating brokerage for all of North The us by Re/Max.
Wu’s target was 200 brokers in two decades. “I was dreaming in the beginning,” she admits. With the addition of Goldenway’s 30 brokers, her brokerage now represents approximately 90 realtors. She has 4 workplaces in the Larger Toronto Area, including two team workplaces.
Atrium has taken about operations of the Goldenway business in Richmond Hill, Ont., the place Wu place an additional tactic for achievement in put. She retained all of Goldenway’s office team so the brokers being on would come to feel comfy in their setting.
Ahead of her real estate job, Wu believed she would stick to in the footsteps of her mother and father, the two conventional Chinese drugs practitioners. Wu and her parents immigrated to Canada in 1988. She attended the University of Toronto, graduating with a double diploma in East Asian Scientific studies and Chinese medicine. She examined the latter in China for a number of decades.
On the other hand, the moment out of college, it wasn’t lengthy ahead of she realized actual estate, not medication, was her passion. She labored for a couple scaled-down brokerages that presented mentorship, as properly as the 800-agent Bay Avenue Team Inc. in Markham, Ont. just before opening her have brokerage.
At the time that transpired, she observed a enthusiasm in just her enthusiasm. “From 2020 to the existing, I’ve carried out over 200 training programs and seminars at our brokerage for pre-certified candidates, novice agents and veteran brokers.”


90 brokers and nonetheless growing


“In the final quarter of 2022, Atrium ranked eighth in North America and fourth in Ontario in phrases of growth level,” she says.
Wu’s most modern Re/Max awards and designations include things like the Pinnacle Club Group (2022), Hall of Fame (2022) and Chairman’s Club (2021).
She is a member of the Fellow of the Genuine Estate Institute, is a Certified Luxurious Household Advertising Professional and has a certificate for most excellent realtor in Canada in 2021 from U.K. analysis, media and investments team Hurun.
Wu is a co-founder of Ladies in Electric power, a non-income system dependent in Toronto that serves young specialist and entrepreneurial girls in Canada, and she also served as vice-president of the New Canadian Local community Centre. Her awards include things like the Platinum Jubilee Award in 2022 and the Ontario Volunteer Assistance Award in 2019.