When it comes to real estate, we all know the mantra is location, location, location. That’s also true for real estate franchises. What better way to start your own franchise than to reach out to the real estate experts at Realty ONE Group?
A real estate franchise is a business model where an individual or company licenses the use of the franchisor’s trademark. It’s a great way to give your real estate business legitimacy and to build upon an already established brand with all the necessary processes already in place.
The most important consideration is how well you know the market where your real estate franchise will be operating. Real estate professionals and clients will look to you to be the subject matter expert about the market, the tools they need to succeed, and the coaching that will make all the difference. Here are the most important things to consider before buying a real estate franchise.
How much inventory is available?
It’s important to be familiar with the housing market in your area. Many regions are experiencing a deficit of inventory that is making it difficult for real estate agents to find homes for their buyers. Know the housing trends in the area, understand the outlook for home prices, inventory, and more and be ready to help REALTORS(R) be more competitive.
The benefit of a franchise real estate model is that the franchise already has guidelines in place for helping their franchisees select a market, establish the business, select an office location and recruit successful and knowledgeable real estate professionals.
What is the demand like?
What demand is there for homes in this particular market? Because many workplaces have moved to a virtual model, some regions have experienced significant interest as fully-remote workers seek areas with a lower cost of living. Starting a real estate franchise location in an up-and-coming area can be a great way to get ahead of some of the competition and establish yourself as the go-to resource for individuals and families looking to move to the region including real estate professionals who will need a new, exciting office.
Realty ONE Group has been named one of the most affordable franchises you can buy and one of the most desirable when it comes to recruiting real estate professionals who want to keep their hard-earned commission. Finding a high-demand market that has been overlooked by other entrepreneurs is an excellent path to success.
What is the projected growth of the area?
Markets that are rapidly developing pose new opportunities for exciting real estate offices. A region with a lot of planned housing and commercial developments over the next several years could mean explosive growth for the area and make it the perfect location for a franchise real estate business. As new homes are built and businesses move into the area, there will be a greater need for real estate professionals. Getting into that market early and establishing yourself and your real estate franchise as a new, dynamic home for ambitious REALTORS(R) in the area can open new opportunities for success.
Owning a real estate franchise can be a profitable and exciting endeavor, and Realty ONE Group makes it easy to get started. With hours of training in the classroom and on the go, it’s a perfect way to get into the real estate industry even if you haven’t had previous experience. Realty ONE Group is the only high-commission, low-fee company to offer all the coaching, mentoring, technology, and support you need to recruit the best in the business.