The real estate market in the U.S. is currently valued at $163 billion and despite recent challenges, experts expect continued growth in years to come fueled by low-interest rates and increased demand for residential properties. If you’re considering getting into the real estate business, you may benefit from owning a franchise.
Going the franchise route gives you a huge advantage when it comes to starting a business. Not only do you get a positive boost to your reputation is attached to an already well-respected brand, but you also get support and a time-tested business model that you can shape to suit your needs.
Of course, with the massive number of opportunities for franchising available, it’s easy to feel overwhelmed. Don’t worry, though, this guide to the top 5 fastest growing real estate franchises will give you a head start on your research.
1. JP & Associates REALTORS (JPAR)
Texas-based JP & Associates REALTORS (JPAR) decided to take their business to the next level offering franchises starting in 2018. Since then, they’ve seen phenomenal growth securing more than 50 franchise locations across 19 states. Franchisees have the chance to get in “on the ground floor.”
As a relatively young franchise operation, JPAR understands the value of outside-the-box thinking. Like any other start-up, JPAR prides itself on its agile and innovative approach to real estate. And this approach has several benefits for both owners and agents:
- All franchisees receive a robust technology platform
- JPAR’s transaction fee model makes them one of the most competitive brokerages out there
- JPAR provides compliance support, ownership training, and much more
In addition, JPAR treats its franchisees like family. “The key to our success is communicating with our franchise partners. They are the ones applying what we’ve taught them “on the ground,” so of course we want to hear what’s working for them,” says Geoff Lewis, Chief Executive Officer of JPAR Franchising/President of Vesuvius Holdings.
To learn more about the franchising opportunities available at JPAR, visit franchising.jpar.com.
2. Keller Williams
Keller Williams stepped onto the real estate scene in 1983 and has been in the franchise business since 1987. While most of KW’s franchises are in the U.S. and Canada, they are currently seeking franchisees around the world.
One advantage of owning a KW franchise is its profit-sharing program. As an incentive, when you recruit others to partner with Keller Williams as a franchise owner or agent, you earn more.
3. Sotheby’s International Realty
The advantage of owning a Sotheby’s franchise is that they have rigorous and specific requirements. In other words, it’s not simply “pay to play.” Because the company has a reputation for working with an exclusive clientele, they must vet their franchise owners carefully.
Sotheby’s treats franchise ownership as a privilege and that privilege comes with a hefty price tag. The upfront cost of investing in a franchise can range from $150,000 to $600,000 depending on the housing market.
4. Century 21
With more than 8,000 franchise owners across 80 countries and territories, Century 21 is one of the most widely recognized names in real estate. So the main benefit of choosing to franchise with Century 21 is brand awareness.
Also, though they’ve been offering independent brokers and entrepreneurs the franchise option since 1972, they’re out to reinvent what real estate franchising looks like. Their mission is “to defy mediocrity and deliver extraordinary experiences.”
Century 21 affiliates gain:
- Global exposure
- Comprehensive training
- In-market support
- The buying and selling power of having a global partner
5. Berkshire Hathaway HomeServices
Although Berkshire Hathaway has been a well-established brand in real estate basically since its founding in 1839, franchise ownership has only been an option since 2012. Berkshire Hathaway operates its franchising model through a subsidiary, HomeServices of America, which is based in Irvine, California.
Berkshire Hathaway offers affiliate networks a comprehensive suite of tools, services, and resources to support their growth. Franchisees also benefit from national marketing campaigns, innovative technology, and premium training for their teams.
If you’re a real estate agent or broker ready to find more freedom, franchising might be exactly the opportunity you need. There are a lot of options, but with the right partner, scaling your real estate business is a smart investment.