Real estate brokerage Properly is considering selling the company, a report by the Globe and Mail reveals.

What’s happening: Properly has hired investment bank Raymond James to review options for the tech company.

• “We received inbound acquisition interest, and have hired [them] to help us evaluate,” Properly co-founder Anshul Ruparell told The Globe and Mail.
• Properly has not provided details on which company has showed interest and at what price. It is not known what the value of the company is.

Properly stopped offering its key service, called ‘sales assurance,’ citing “unprecedented volatility in the Canadian housing market.”

The company planned to greatly expand its team across multiple Canadian regions, however the number of people currently employed sits at around 80 – about half the staff it had back in 2021.

If Properly does come under new management, here are a few things non-unionized employees in Canada need to know.

WATCH: Employment lawyer Lior Samfiru explains the rights workers have when their employer sells the business on an episode of the Employment Law Show.

Who pays severance if the new owner doesn’t want to keep certain Properly employees?

If you lose your job as a result of Properly selling the business, the real estate tech company must provide you with full severance pay.

In Canada, the person or group who sold the company is responsible for providing proper compensation to affected staff.

If you receive an employment offer from the new owner,...

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