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What You Need to Know Before Starting a Real Estate Franchise

Real Estate Franchise

According to the National Association of Realtors, in 2007 almost 45 percent of its members belonged to real estate franchise companies. Of these members of these real estate franchise companies, 80 percent claimed that their affiliation with a real estate franchise made them more readily able to acquire listings. Almost 90 percent of the members of the real estate franchise companies believed that being affiliated with a real estate franchise improved the brand name recognition of the real estate franchise.

Some of the advantages conferred upon a small, independent real estate company by joining a real estate franchise include benefitting from the proven track record of success associated with the larger franchise companies, brand name recognition of the real estate franchise, training and operational support provided by the real estate franchise companies, marketing and advertising support conferred from the franchise companies to the smaller real estate franchise branches, the ability to negotiate better prices from vendors due to the ability to negotiate as a larger group, partnerships to gain better and more affordable access to related vendors such as home inspectors or mortgage lenders, and decreased risk to to being enrolled in larger real estate franchise companies.

NEXT: What You Need to Know Before Starting a Retail Franchise

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