If you’re considering investing with an estate agent franchise, it’s important that you know what to expect. What happens in the daily life of a franchisee? What will your career as an estate agent look like? Though there’s no guaranteed structure, here’s a list of what you can expect to occur in the average working day.
The real estate industry is growing, lucrative and booming in 2021. Faced with constantly high levels of demand, estate agents must work quickly to deliver results that are exciting and profitable for themselves and their clients.
Though the market, as expected due to COVID-19, dropped in the first half of 2020, the latter half of 2020 saw the return of sector growth [Office for National Statistics]. Prices were up, and so were the number of transactions, thanks to a combination of pent-up demand and people looking to use the tax holiday (introduced in July 2020) to their advantage.
A day in the real estate sector
Here’s what a regular day might look like as an estate agent franchisee:
- Morning meeting - Most estate agents start their working day between 8:30 and 9:00, kicking things off with a morning meeting in which new properties are discussed, important updates are shared, and any other relevant news is covered.
- Handle enquiries from customers - Most days, you’ll receive regular communications from prospective customers, enquiring about properties by email, by phone, or in person. Discussing properties with potential clients will require you to be patient, communicative, calm and knowledgeable.
- Attend viewings - Often, estate agents will be required to attend viewings, whether a property is being sold or let. During this process, you’ll be required to sell the home, giving the customer viewing it as much information and insight as possible.
- Negotiate offers - You hope to receive an offer on one of your properties and you’ll be responsible for negotiating, communicating, and bridging the gap between buyer and seller. If an offer is accepted, you’ll then need to secure the transaction and see things through to exchange of contracts.
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Advantages of joining an estate agent franchise
Making a career change with an estate agent franchise could be highly rewarding for you, both in terms of your professional satisfaction and your financial return. Here are three advantages to investing with a real estate company:
- You’ll have the chance to help people find their dream homes - There’s nothing better than helping others, and as an estate agent, you’ll regularly be a part of milestone moments in the lives of others, helping to make the home buying process straightforward, stress-free and achievable.
- You’ll join an established, successful business and find yourself on good footing as a result - The benefits of becoming an estate agency franchisee rather than starting from scratch are many and various. You’ll enjoy a recognised brand name that affords you a good reputation and a built-in customer base, and whenever you run into an issue you can’t solve, you’ll be able to turn to your franchisor, or your franchisor’s proven business model.
- Demand is extremely high in the real estate industry - As expressed, demand is high, and even if it dips, it won’t disappear. People will always need properties, and estate agents will never be out of a job.
Challenges of joining an estate agent franchise
Though the advantages of becoming a franchisee with an estate agency are many and various, there’s also two key challenges to bear in mind as you decide whether you have what it takes to run an estate agent franchise. Challenge one? Working as an estate agent can be demanding, and your working hours won’t always be standard. If you’re in the midst of making a big, important sale, in particular, you might be required to work weekends and rack up some overtime.
Challenge two? Dealing with clients isn’t always easy. In fact, sometimes clients can be very challenging. When someone is stressed out over the complex process of buying and/or selling a home, they won’t always put their best foot forward, and as an estate agent, you’ll need to navigate this and defuse potentially volatile moments with poise and politeness.
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Become a franchisee in the estate agent sector
If, at this point, with the advantages, challenges and daily duties laid out in front of you, you’re still interested, you’d likely be a good fit for an estate agency franchise. To give you a sense of what’s out there, here’s one of the many estate agency and property franchise opportunities out there...
Century 21 is one of the largest residential estate agency franchises on the planet. The company has amassed a network of more than 10,000 offices, spanning 84 countries. Following many years of success, Century 21 has recently shaken up its franchise system after recognising the demand for more flexible working options. With solo, flex and max franchising options available, franchisees can tailor their desired franchising experience to suit their lifestyle.
- Becoming a Century 21 franchisee: Whether you’re a previous property professional or someone who’s completely new to the industry, Century 21 welcomes you if you’re ambitious, entrepreneurial, driven and committed.
- How much you need to invest: To start a Century 21 franchise, you’ll need to make a minimum initial investment of £10,000, with total investment costs of £100,000 and a royalty fee charged at a rate of 10%.
- What you get for your investment: After choosing a franchise model from the options listed above, you’ll be given plenty of support from Century 21, including pre-launch induction training for you and your team, access to more than 100 training courses, platform and software training, and the help of a dedicated business manager.
Invest in a real estate business and become a franchisee today
If an investment in an estate agency is looking like the right fit for you, stay on Point Franchise and find out more. Discover our step-by-step guide to starting your own estate agent franchise, and browse four of the best UK real estate franchise opportunities.
Cara Squires, Point Franchise ©