Find People the Home of Their Dreams With One of These 3 Online Estate Agent Franchises
Have you considered starting an online estate agent franchise? We’ll find out more about the industry and explore some of the franchises that are on the lookout for new franchisees.
Starting an online estate agent franchise unit is a great way to benefit from the security of a proven business model whilst helping local people find their dream home. Digital technology has advanced to the point where brick-and-mortar businesses are no longer necessary when it comes to the estate agency sector. So, many franchises have taken advantage of these advancements to provide a customer-centric service that ticks all the boxes.
Research suggests that now is a great time to join the estate agency sector. According to Hallidays, the industry is worth more than £11 billion and has grown by one percent every year since 2014. Within the sector, online estate agencies have great potential for profitability. As soon-to-be homeowners turn to the internet to browse properties, brick and mortar businesses are becoming quieter than ever.
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Online estate agent franchise opportunities
Here, we take a look at our top three online estate agent franchises and what makes them so special.
About the franchise: EweMove is an online estate agent with a stellar reputation. Repeatedly awarded a full five stars by industry experts, franchisees and customers alike, the franchise knows exactly what it takes to turn new franchisees into successful property professionals. This estate agent franchise has over 100 franchisees dotted around the country and years of invaluable experience that they’re more than happy to share with the right entrepreneur.
Becoming a franchisee: You don’t need any previous real estate experience to join EweMove. That’s because the business selects franchisees that have excellent communication skills, a sound business mind and the drive and commitment to make their business work.
The investment: You’ll be expected to invest around £19,995 +VAT. This entitles you to a territory of roughly 20,000 households. However, you’ll also need at least £2,000 of working capital at your disposal to see you through the early stages of franchise development.
What you get in return: EweMove offers an extensive training programme that includes a one-week induction at the company’s headquarters and a day-long business training course in the Midlands. On top of this, you’ll also get the chance to enrol onto 10 one-day seminars for new franchisees known as “success summits”. Then, EweMove provides ongoing support, ensuring you always have the help you need to succeed. The franchise even gives you access to an enormous range of resources, including sales scripts and marketing materials.
Did you know? The estate agent sector is worth more than £11 billion.
About the franchise: Established in 2003 by Manjit Virdiand, Redstones has been a highly influential online estate agent franchise for over a decade. It puts an emphasis on providing high-quality customer service without the need for a high street property. As a result, the franchise uses the latest digital technology to provide tiered products that meet the needs of both its franchisees and its customers. While Redstones mainly focuses on lettings, successful franchisees can also use its sales service, adding an additional revenue stream to their businesses.
Becoming a franchisee: All franchisees are allocated a territory that covers roughly 100,000 homes and 250,000 residents. Each has been designed by mapping experts who understand the demographics of the areas they’re working with and create boundaries that maximise the potential for growth in each territory.
The investment: Because Redstones franchise units can be operated from home, the initial investment cost is one of the most affordable around. Setting up a new business typically costs somewhere between £20,000 and £25,000, which includes the £14,995 franchise fee.
What you get in return: Redstones franchisees receive two weeks of intensive training at the company’s headquarters. This covers topics as diverse as business management, communication skills and digital systems. Redstones also guides new franchisees through a thorough business launch programme and accompanies them on their first visits to landlords and clients. Ongoing guidance is available after the initial set-up stage and Redstones puts a variety of marketing materials at its franchisees’ disposal. This support continues long after the business is fully established, and the franchise plays an active role in guiding all of its franchisees to higher profits.
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About the franchise: HomeXperts is at the forefront of technological innovation in the real estate industry. Having been awarded the Sunday Times’ Best Estate Agency prize twice, HomeXperts is well positioned to know exactly what it takes to be the best. By providing customers with a variety of ways to list their home, the franchise offers an incredibly versatile service that has proven hugely successful over the last few years.
Becoming a franchisee: HomeXperts offers its franchisees many different ways of adding revenue streams to their businesses. This makes it an excellent choice for investors, as it’s a franchise that offers benefits to its franchisees as well as its customers.
The investment: To get involved, you’ll need to make a minimum initial investment of £20,000 and a franchise fee of £12,995. As you run your business, you’ll pay a monthly operating fee of £500 and a royalty fee that amounts to 10 percent of earnings. Considering the reputation of the HomeXpress brand, these costs make it an extremely affordable franchise to invest in.
What you get in return: Alongside the right to operate under the HomeXperts name, the franchise offers investors the chance to enrol onto a full training programme. Once completed, you’ll be awarded industry-recognised qualifications and given access to an in-house legal advisor, graphics team and central call centre, which will answer your calls when you can’t get to the phone.Lettings administration assistance and a dedicated business development manager are also available to help you get your business up and running.
Finally, HomeXperts will provide you with the digital software required to run an online estate agents and train you in its use. The most profitable franchises in the HomeXpress network earn around £25,000 a month. This means a monthly salary of between £5,000 and £10,000 is well within reach of most franchisees.
Become an online estate agent franchisee today
All three of our top picks operate in the same industry, but each of them has their own advantages and disadvantages. Redstones, with its tiered product system, is a versatile franchise with excellent potential for expansion. HomeXperts appears to have struck the perfect balance between technology and customer service. And EweMove’s excellent training programmes and unbeatable reputation have ensured it stands out from the crowd.
If you want to become an online estate agent with a franchise, click on the links above to find out about each opportunity. Or, click here to browse our full portfolio of estate agent franchises and read more about them.
Alice Tuffery, Point Franchise ©
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