Brookfield Real Estate Services (OTCPK:BREUF) is currently paying a 9% dividend yield, and does not own any real estate. It is a service company, providing its brand names and services to real estate brokerages. It charges fees to the brokers who franchise its brand names and use its systems, as well as to the individual agents working at those brokerages. The company operates under three brands: Royal LePage, Johnson & Daniel, and Via Capitale.
The Canadian real estate market did not experience a crash of similar proportions to the US real estate market, and the company weathered the downturn well. The number of agents in its franchised brokerages has lately begun to increase, suggesting the tide has turned...
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