Franchise Spotlight: Real Estate
With ‘owning a property’ on many people’s American Dream wish list, this is an industry offering many exciting franchise opportunities.
A real estate franchisee will oversee the sale of residential and/or commercial property on behalf of its owners. Despite falls in home ownership during the 2007-09 recession, many Americans continued to perceive homeownership as part of their personal American dream - one of the reasons the percentage of people who owned their own home had risen to over 65% by 2019.
In December 2020 an average American home was worth $266,104 (up 8.4% from the previous year) and despite the 2020 health pandemic, economists predict that home values and sales will continue to rise. This makes real estate an exciting sector in which to franchise.
With over 2 million real estate agents working in America, real estate is a competitive market to enter alone. Franchises such as Help-U-Sell Real Estate and United Real Estate offer the opportunity for franchisees to start their journey with the security and reassurance of established brand names.
Real Estate Industry Analysis
The real estate sector is a highly competitive market to enter but one which will certainly pay off for those franchisees willing to take the plunge and put in the effort.
Real estate franchises come with a wealth of benefits - not least in their marketing support which will help you to predict and focus your marketing for those consumers who require your service. A background in real estate will certainly be beneficial, but not essential to start your journey as a franchisee.
The established banner of a recognized brand will help attract customers as you build your client base. This is especially important in a congested market where it will be important to stand out from the crowd.
Communication and negotiation skills will be vital for those who are starting out in this sector as well as a confident sales approach. With house sales and prices looking set to continue rising, this could be a lucrative sector to be part of and one which looks set for a bright future.