Frequently Asked Franchise Questions
Real Estate Franchising is when a small or medium-sized Real Estate business buys into a large established Real Estate Brand, therefore automatically gaining a ready-made Business model.
Franchises often give you the experience of getting to know what it feels like to be supported by a bigger established Brand through various ways such as;
- Personal growth consulting
- Staff training
- Educational events
- Software support
- Entrepreneurial culture
- Marketing Platforms
You are your own business owner, but you are never alone, you are part of a bigger brand.
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The well-known Real Estate Franchisors in the world have one major characteristic, they are Global. Meaning, they have a substantial number of successful offices/Franchises worldwide that are operational.
They share common Branding, operational model, marketing strategies, Agent recruitment methods and training modules.
Consistency is one key aspect that Franchises encompass and this helps to build Brand recognition and uniformity.
A Real Estate Franchise consists of the Franchise owner who owns and oversees all operations in the team. It also consists of Agents whose role is to bring in business to their respective offices and lastly other office support staff that assist in the day to day running of the business.
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For you to start a Real Estate Franchise you need to factor in the following.
- Calculate the amount of money you have to invest in a Franchise, have a budget.
- Compare and contrast the Franchise cost of Real Estate companies that offer the same
- Determine the type of Real Estate transactions that interest you.
- Research well on the success of all companies that offer Franchises and choose wisely.
- Determine if a Franchise offering is available in your target geographic region.
- Start identifying the working team that you need to recruit
- Review the Franchise agreement well if need be with an attorney.
- Organise your source of funding for the franchise.
For more information contact us.
The costs to open a Franchise is different for every company, but in overall the requirements are similar. The costs that you will incur include;
- The Franchise fee paid to the Franchisor – (Terms and conditions may vary from one company to another)
- Professional fees (Legal, licence etc.)
- Office branding.
- Furniture, fixtures and equipment.
- Working capital – Day to day cash to run the business and sustain it for a few months from inception.
- The location, size and number of staff will determine any other extra costs that you might incur.
Brand
Credibility goes far. The influence of a brand cannot be bought or borrowed. It’s earned over time. At RE/MAX, you benefit from four decades of brand reputation built on leadership, innovation and integrity. Unite with it and your brokerage gains instant credibility.
Global
The world is shrinking. When you become part of a network that’s in over 100 countries with more than 123,000 agents, you receive worldwide brand presence and cross-border capabilities competitors can’t touch. What does this mean for you? It means clients interested in international opportunities can come to you, which can mean more potential business for you and your agents.
Advertising
Be known! At RE/MAX, you benefit from literally billions of dollars spent on promotions spanning from yard signs, above the line and below the line advertising tools, print, to digital and social media activities. This not only helps create a powerful presence in the consumer space, but also invites industry recognition, helping you to recruit the absolute best.
Support
Backed by the best. RE/MAX offers comprehensive franchise support including everything from individual, hands-on coaching to powerful recruiting and retention resources designed specifically for brokers. Because when you’re equipped for success, your agents will be too. Our mission is to help you achieve your goals.
Agent Benefits
Fostering growth. Anything can be accomplished with the right set of tools. Which is why RE/MAX provides agents with a powerful, lead generation system. Communication resources. Solid tech tools. Comprehensive, online and in-class education and much more.
Entrepreneurial
Live your vision. You’re the expert in your market, so the control stays with you. You set your own objectives and determine how to handle everything from operations to compensation plans. But you’re not in it alone. As a franchise owner, you receive support services that help you stay ahead. At RE/MAX, you’re in business for yourself, but not by yourself.
Culture
Home to high-producers. Motivated agents who are focused on their success are drawn to the RE/MAX brand. And when continuous improvement shapes the heart of a culture, excellence often follows. Great people, great attitudes and great results. It’s a compelling combination.
Education
Prepared for anything. To stay on top of today’s business landscape, you need quality education. We believe that the more you learn, the more you earn. Which is why RE/MAX offers Brokers online and in-class training, business development programs like MomentumSM, and RE/MAX University® video programming that covers virtually every topic in real estate. This will give you an edge in your recruiting efforts and help you attract agents, too.