A new division, WOLFwatch, was launched in January of this year. Recognizing the management gap that exists in the industry, WOLFwatch was designed to provide the expertise to deal with this. Years ago, the agent splits were much lower and the funds that brokers retained helped to pay for management. Over the last 20 years this has changed and the management costs have been squeezed out of the system. The reason for this was that management was mostly labour and labour is a large marginal cost. For example, you either pay $50K for a manager or you don't. Since then, technology has made great strides. Software, like the brokerWOLF back office management solution provides powerful reports and management information. With the labour gone though, no one is looking at them. WOLFwatch was envisioned to perform this role, checking financial records, analyzing results and provide the management that is lacking. During the year, annualized sales passed $4 million for the first time.