A Vancouver-based online conveyancing provider recorded the best month in its eight-year history this May with year-over-year revenue rising 40%.
The president of OneMove Technologies Inc. (TSX-V:OM) attributed the company’s growth to the viral expansion of its network of conveyance professionals in western Canada.
“Revenue growth for OneMove has averaged 7% a month for the past five years,” said company president Martin Johnson.
According to OneMove, online conveyancing or e-conveyancing is being used for about 30% of real estate transactions in B.C.
With recent proposed amendments to the Land Title Act requiring all land applications to be submitted electronically, OneMove is eagerly eyeing the rest of the B.C. market.
Johnson said: “The company has the remaining 70% of the market to expand into as this change is absorbed by the market in British Columbia in the coming year.”