In the past, estate agencies were local and independent. Today, many operate as national franchises. We’ve highlighted just a handful of the most exciting estate agency franchises in the UK. Here’s how you can get involved?
Opening an independent estate agency isn’t easy. In a highly competitive sector, starting from scratch, working with less resources, and lacking the same contacts as some of your competitors, can be challenging.
For these reasons, opening as a franchisee is becoming more and more attractive. As an estate agency franchisee, you’ll benefit from more support, a trustworthy reputation and an improved network of properties, making franchising a very attractive option.
Why join an estate agency franchise?
In the past, the estate agency sector was primarily made up of independent and local outlets. But as the lucrative nature of property attracts more and more people looking for their piece of the pie, franchising has become a more popular route for property-minded entrepreneurs.
Thanks to the temporary suspension of Stamp Duty Land Tax on properties worth less than £500k, the market has recently been flooded with buy-to-let transactions - a rise of 77 per cent on the previous year. These landlords now need estate agents to manage their properties, which makes it the perfect time to get into estate agency and property franchising.
The sector has also proven itself to be pretty Covid-proof, after some initial disruption. Having operated at near-normal levels throughout the pandemic, those starting a business in estate agency or lettings will also be well placed to benefit from the many homeowners and renters who have decided to leave their current housing behind, in search of greener, more affordable places elsewhere.
So if you’re looking for a lucrative, future-proof sector to join, and you’d like to give franchising a try, here are our top four estate agency franchises for you to consider.
Many new letting agents set up with cut price offerings. Many of them fail because they don’t have the strength of a reputable brand.
—Dorian Gonsalves, Belvoir
The top 4 estate agency franchises in the UK
EweMove’s goal is to become the UK’s most trusted estate agent in the UK and, on the basis of its award-winning services, is well on the way to achieving that aim. The agency has been named ‘Best Estate Agency’ by The Sunday Times on two occasions, on top of winning awards for ‘Best Innovation’, ‘Best Property Management’, ‘Best Estate Agency’, ‘Best Website’ and ‘Best Agency to Work For’. It has also racked up hundreds of five-star reviews on TrustPilot.
Even though it has only been in operation since 2013, EweMove has grown quickly over a short period of time. Regardless of whether you’re an experienced property agent or not, you’ll benefit from a comprehensive one-week training programme at the company’s headquarters. Here’s everything else you need to know:
- How do I become a EweMove franchisee?: To become a EweMove franchisee, you don’t need any previous experience in the industry. You simply need to have a can-do attitude, the drive to succeed and be people-oriented.
- How much do I need to invest?: You’ll need to make a minimum investment of £19,995 in addition to having the working capital for your first year’s marketing costs. If you’re ready to invest but don’t quite have the full amount, most banks are prepared to offer loans of between 50-70 percent of your start-up costs, depending on your financial history.
- What support is on offer?: You’ll receive a starter pack which contains essential items you will need for setting up your business, professional property photography training, and ongoing 10-day ‘success summits’.
>> Read more:
Redstones is a web-based real estate franchise, offering a digitally-advanced way of matching tenants to the right properties. Redstones offers a complete range of services including lettings, residential sales, property management, auctions and switch agents. The franchise also uses 3D floor plans to let clients or buyers gain a unique overview of the properties they are interested in.
- How do I become a Redstones franchisee?: The franchise is looking for ambitious, self-disciplined individuals who are motivated and have good interpersonal skills.
- How much do I need to invest?: You’ll need to make a minimum investment of £14,995.
- What support is on offer?: As part of your franchise agreement, you’ll receive a two-week training programme at head office, professional marketing materials, equipment, software, business support, car livery and your own Redstones microsite.
HomeXperts is a forward-thinking, innovative property franchise that focuses on delivering a consumer-centric business model to all of its franchisees. It’s also the two-time winner of The Sunday Times’ ‘Best Estate Agency Franchise’.
Operating through a network of local property experts, this innovative franchise challenges the traditional estate agency model by offering clients nationwide coverage, but with the support of a professionally trained estate agent with local knowledge. Combining sophisticated technology with a customer-oriented approach, it’s easy to see why this franchise has achieved success.
- How do I become a HomeXperts franchisee?: HomeXperts is looking for hard-working self-starters who want to help their customers and make a difference. No previous experience is necessary!
- How much do I need to invest?: You’ll need to make a minimum investment of £20,000 to open a HomeXperts franchise, with a view of earning between £5,000 - £10,000 a month on commission.
- What support is on offer?: You’ll be given access to the central call centre, lettings administration assistance, access to an in-house legal advisor and graphic designer, an extensive resource hub with over 1,000 training documents, and a dedicated business manager.
>> Read more:
- 5 Qualities of a Successful Franchisor
- 4 Things Franchisees Never Have Time for But Are Essential for Running a Successful Business
- How to Launch a Franchise and Get Noticed
- 4 Elements of a Successful Franchise
- How to Start a New Business on a Shoe-String Budget
- The Ultimate Guide to Franchising Success
4. Century 21
Century 21 is one of the largest residential estate agency franchises on the planet and has amassed a network of more than 10,000 offices spanning 84 countries. Following many years of success, Century has recently shaken up its franchise system after recognising the demand for more flexible styles of franchising.
With flexible working becoming a permanent feature for many, Century 21 is an attractive and well-placed franchise for those looking for the flexibility and independence that a franchise can bring. Having diversified into solo, flex and max franchising options, you can tailor your desired franchisee experience to suit your lifestyle.
- How do I become a Century 21 franchisee?: Whether you are a previous property professional or starting new, this franchise is looking for people who are ambitious, entrepreneurial, driven and committed.
- How much do I need to invest?: To open a Century 21 franchisee, you’ll need to make a minimum investment of £10,000.
- What support is on offer?: Before opening your own franchise, you’ll be able to choose your franchise model depending on what kind of experience you’re looking for. Then, once opened, you’ll be given plenty of support as a Century franchisee, including pre-launch induction training for you and your team, access to more than 100 training courses, platform and software training, and a dedicated business manager.
The future of estate agency franchises
Opening an estate agency franchise is an exciting way to start your own business in a competitive and fast-moving sector. If you’d like to find out more about the opportunities on offer, explore our range of estate agency and property franchises. Not sure the property world is right for you? Check out our full UK franchise directory, where you’ll find a wealth of exciting franchise opportunities in virtually every sector.
Elliott Fudge, Point Franchise ©