Let’s Discuss Your Brokerage’s Growth Strategy
6 strategic steps to consider when aligning with a real estate franchise.
As an established real estate brokerage owner, you’ve built your business from the ground up, pouring in time, effort, and passion. We get it—it’s no small feat! In today’s shifting market, many successful broker/owners are evaluating their strategic options. Have you thought about how a real estate franchise could be the next best step to growing your business? Franchise models have proven systems, supportive communities, and higher brand recognition. That might be just what you need to take your business to new heights. If you’re curious about how to make this leap, check out this six-step guide to exploring the exciting possibilities of franchise ownership.
6-Steps to Franchise Ownership
1. Ask Yourself the Right Questions
When getting started, it’s important to put yourself in the right frame of mind to make big, impactful decisions. What are your primary growth objectives for the next two or three years? Are you seeking to grow through recruiting? Agent productivity? Mergers and acquisitions? How would aligning with a franchise help you to be better positioned in today’s rapidly changing environment and considering the current economy? How is tech changing the way we do business and real estate, and how can you leverage the top tech resources of a large franchise brand? Asking yourself these questions will lead you to the brand that is right for you. (And it might be RE/MAX®!)
Let the right questions be your guide.
2. Research Your Top Franchise Brands
Explore your top three real estate franchise brands and evaluate how they can elevate your business. Do the brand’s values align with yours? What is the brand’s share of market? Does the brand offer advanced marketing and technology resources, CRM systems, AI resources and market analytics that might otherwise be costly for a brokerage to develop on their own? What is their reputation in the industry? Being part of a trusted, reputable brand can help recruit and retain top producers.
A well-known name could help boost yours.
3. Evaluate Your Market
Evaluating how a brand is received in your local real estate market is important. Are there opportunities to grow your business outside your locale and community? Going with a brand that has a large global presence can offer unique networking opportunities to help you expand into other markets and go beyond local referrals.
A large network helps you network.
4. Connect with Other Franchise Owners
Networking is crucial to building your business, and equally important when making decisions that affect it. They say your network is your net worth. Talking to existing franchise owners at your preferred real estate brand may offer invaluable insights into the type of support and resources you can expect.
Create connections for growth.
5. Analyze Your Financial Situation
Consult a financial advisor. Determine your budget and explore financing options, including personal savings, bank loans, or franchise-specific financing programs. Ensure you have a clear financial plan that covers initial costs and ongoing expenses.
Secure your future with the right financial planning.
6. Connect with a Real Estate Franchise Consultant
Before making any decisions, talk to an experienced real estate franchise consultant and obtain legal counsel. These individuals can help you understand the financial commitments involved and help you make a well-informed choice that aligns with your long-term goals. Your franchise consultant will provide clarity on how your desired franchisor delivers ongoing support, inclusive of extensive learning and development programs, ensuring that your brokerage stays competitive and can adapt to an ever-changing market.
Get expert guidance to set yourself up for success.
When you’re ready to make the transition to franchise ownership, following the steps outlined above can help you make an informed decision. Ready to become part of a top brand with a network that offers built-in trust, professionalism, top tech like MAX/Tech℠ powered by BoldTrail, and a solid global network? Reach out to one of our experienced real estate franchise consultants today to start a confidential conversation about how RE/MAX ownership could help you take your business to the next level. When you’re with RE/MAX, the only way to go is up.
The RE/MAX team was there every step of the way to help us throughout the conversion process. To this day, we get comments from our agents about how they’ve personally benefited from the switch.
Reach out today to start your confidential conversation! We’d love to hear from you.
