Whether you're just starting a brokerage, or you're considering franchising an existing one, there are many to choose from with differing business and revenue sharing models. Learn about them here.
Getting the real estate community's opinions about the Area Pro Realty franchise and franchising in general for the real estate business.
I interviewed Mike Volkin, President of Area Pro Realty, a real estate franchise company, and here's the scoop on the services this franchise offers, as well as what its President says makes it different.
The major franchises are busily building giant websites with national real estate searching, thinking that this will be the way to bring value down the line and keep growing.
Learn about some of the largest real estate franchises, their business models, how agents are compensated, costs to agents and brokers, franchise fees, agent splits, profit sharing, revenue sharing, residuals and more. Look at profiles of Prudential Real Estate, Exit Realty, Keller Williams Real Estate, RE/MAX, Coldwell Banker and Century 21.
Exit Realty, a fast growing major real estate franchise, grows their agent base via recruiting by current agents. Since agents sponsor other agents, there is said to be a more supportive environment, as they want to see those they sponsored succeed and prosper. Residual payments for those agents sponsored creates a corporate culture focused on recruiting.
Though most all real estate agents are independent contractors, RE/MAX was founded to advance the concept to the next level. Based on a 100% commission to the agent, the RE/MAX franchise and its brokers make their money via fees charged to the agents for office space and services.
Century 21 Real Estate, according to their web site, has more than 8000 offices in 45 countries and around 150,000 agents worldwide. This franchise was one of the first and remains a major player in the business of real estate.
Coldwell Banker Real Estate, a Realogy Company, is a major player in the real estate business. Founded in 1906, the company now has more than 4000 worldwide offices. Franchisee brokers appreciate and value the education they receive in performance tracking, technology and business management, as well as the volume buying savings on all kinds of business items.
Keller Williams Real Estate, founded in 1983, has experienced steady growth in franchises and now has more than 600 offices and more than 80,000 agents. Using innovative profit sharing for agents who bring in agent recruits for up to seven down levels, this company has experienced excellent agent retention. The Keller Williams University provides extensive training and the technology resources provided to agents are highly valued.
Prudential Real Estate Affiliates, Inc. is a wholly owned subsidiary of the Prudential Insurance Company of America. This real estate franchise brings a long and distinguished history to the business. Their cooperative effort with Yahoo to showcase Prudential local real estate offices and their listings has also made them influential in the internet real estate arena.
