In a surprise move, Canadian online discount brokerage company, Zoocasa is being shut down. Rogers Communications confirmed its closing Zoocasa later this month. A letter sent to customers also shared the news. “After June 22, 2015, the brokerage will cease to be registered and will be prohibited from trading in real estate as a brokerage. Although we have had great success, we have made the decision to close down our business.”
Industry insiders believe the company was operating at a loss for years and despite an attempt to sell Zoocasa and even run an expensive ad campaign for the company, Rogers decided to close shop. All pending transactions will be honoured.