If you’re serious about starting a business, want to make quick money, and enjoy your job, but are stuck for ideas, you’ve come to the correct place.
If this appears to be made in America’s business idea, you would be correct. This is an online estate agency/agent franchise opportunity, which is a significant business in the United States. However, this is now well established in the United Kingdom, and it is a lucrative business for franchisees. Century 21 and some of the UK’s most well-known businesses outside of the financial sector, such as Legal & General and Winkworth, are now attempting to get into the UK market.
Estate Agency Franchise UK
We’ve all heard the horror stories and laughed at the jokes, but do you really understand what an estate agent franchise does? The vast majority of property transactions go through an estate agent, so most of us have been on the receiving end at some point in our lives. However, perhaps you’ve wondered what it’s like on the other side.
An online Estate Agency Franchise opportunity in the UK represents someone who wants to sell their home and is responsible for obtaining the greatest possible price for the owner. To get started, they must persuade someone to sell their home through them rather than through any other estate agent franchise on Main Street.
If you think it’s simple, think again. Buyers aren’t going to stroll in the door and hand over their commission to you. To get houses to list with you, you must spend a lot of time on the phone, become well-versed in the local community, be informed of new listings, and, increasingly, use mailshots to persuade homeowners to sell their homes. Then you must be able to assure homeowners that you will sell their home for more money and in less time than anybody else.
The second step involves trying to persuade someone to buy from you. Part of that will come from having a prominent street presence and a well-known brand name that entices customers to enter. But you should also try to get people to visit you. Your franchise fee is likely to include some type of marketing, but you should check with each franchisor to see how active they are. Then, if you have access to the electoral record, you should send out fliers or even personalised letters to try to attract clients.
Who Is It Suited To?
Running an estate agency is appealing for two reasons, according to Cliff Hulley, Century 21’s IT director. “For starters, a lot of people are already in the financial services industry, and they regard online Estate Agency Franchise opportunities as a natural extension of their work.” When someone is looking for a home, they are usually looking for a mortgage as well. Second, real estate is on the rise, and you don’t need any official qualifications to get started,” he explained.
On a more basic level, it appeals to a large number of people because everyone needs a home, therefore it is a sector that most people will be familiar with.
The housing industry continues to thrive, and it is a sector that has received a lot of attention. Despite the fact that house prices are slowing, there are no indicators that purchasers are delaying purchases in expectation of a major price drop.
There are no specific requirements for this job, however, numeracy and literacy are required. But, at the end of the day, this is a people business. You must be an excellent communicator who can instill trust and confidence in the public while reassuring them throughout the sales process. You must, however, be able to keep going when things slow down. As a result, a positive attitude and patience will be essential.
Costs Franchise Estate Agency Opportunities UK
The first several months will be quite difficult, and you must be prepared to fund yourself for quite some time before seeing the results of your labor.
Even if you were able to sign up for a new property on the first day of business, it may take a month to find a buyer, two months to exchange contracts, another month to complete the deal, and another month to make the final payment. That is, assuming there are no snags along the way.
A Blue Sky Villas franchise will cost around £15,000 plus VAT, but alternative packages will cost significantly more.
However, this is most certainly the lowest portion of your budget.
You should anticipate investing up to £300,000 in your firm in the first year, depending on where you start. In its first year, an estate agency in Knightsbridge, for example, will easily consume the majority of that sum. This will include the cost of office space as well as any operating expenses. In comparison to our article on how to establish an estate agency business from scratch, you might find it useful to investigate the franchising option.
Even if you want to conduct most of the selling yourself, you’ll need at least one other employee.
You must ensure that a high-street shop is always staff, even if it is only by an administrator. However, if you want to help develop new revenue, you could hire another salesperson. Even though the commission is likely to be in the deal, a salesman in London might expect a salary of £25,000 or more.
How Much Can I Earn?
So, what draws so many people to risk their entire life savings to pursue a career in an online estate Agency Franchise opportunities? You can’t help but notice that the property market in the United Kingdom has been surging for several years, and despite repeated warnings of a drop, the market continues to rise.
So, while the start-up costs are significant, the payoff might be substantial.
Even when regional variations in house prices and sales volumes are into consideration, estate firms’ business plans tend to show comparable figures, according to Mark Scott, franchise manager at NatWest. A well-established business might expect to earn £150,000 each year.
After employee and office expenses, you’re with an average annual income of £50,000. This far outweighs revenues from other franchise sectors, where a typical “man and a van” franchise can bring in around £20,000.
This is not an investment for the faint of heart, as the market is famously volatile. Volatility, on the other hand, isn’t always a bad thing. Despite the fact that property in the north sells for less money and has fewer commissions, there may be more sales to be had.
In comparison, a London office may only have ten properties on its books at any given time, making it difficult to generate continuous income. As a result, lower commissions are usually offset by larger sales volumes.
Top 10 Online Estate Agency Franchise Opportunities in UK
#1. PLATINUM PROPERTY PARTNERS
Founded in: 2007
Franchise units: 380+
Initial investment: £300,000 – £ 700,000
Royalty Fees: £32,970 +VAT
Platinum Property Partners is the world’s first online estate Agency Franchise opportunity UK to provide a straight road to financial independence through real estate investments, based on firm creator Steve Bolton’s lucrative professional concept of HMO (Homes for Multiple People). Since its inception in 2007, Platinum has assisted over 380 franchise partners in achieving financial independence through real estate investments.
#2. VENTURE X
Founded in: 2012
Franchising since: 2016
Franchise units: 31
Initial investment: £810,000 – £ 2,500,000
Franchise Fees: £58,500 +VAT
Ongoing Royalty Fee: 6%
Ad Royalty Fee: 2%
As part of the United Franchise Group, Venture X began franchising in 2016. (UFG). UFG is an award-winning company group that specializes in tailored business services, led by CEO Ray Titus. Venture X currently has 32 locations operational in 30 countries, with 120+ units sold. Members buy private memberships, providing them access to open areas or private offices, as in other “sharing” sectors. Venture X franchisees simply supply the modern workspace, and members buy private memberships, giving them access to open areas or private offices, as they desire.
#3. DEALMAKER
Franchising since: 2017
Initial investment: £8,000
Dealmaker is a transaction management firm that specializes in over 100 categories, including luxury online Estate Agency Franchise opportunities in the UK, business for sale, business financing, development, tiny private jets or light aircraft, small private yachts, supercars, and distinguished vehicles. A transaction participant who acts as a middleman frequently buys a business at a lower price than the market price. You never invest your personal money as a trader since there is no reason to.
#4. WIGNALLS ESTATE AGENTS
Founded in: 2015
Franchising since: 2018
Initial Franchise Fee: £25,000
Paul and Sarah Wignall launched the Wignalls Estate agent franchise in 2015. By providing a seamless buying, renting, and selling experience, they swiftly established themselves as market leaders. They’ve won the British Property Awards three years running and were featured in the Best Estate Agent Guide in 2018. Wignall has created a hybrid strategy that provides clients with local expertise at a lower cost.
#5. HOMES-4
Founded in: 2017
Initial investment: £5,000
It is an honor for Homes-4 to represent their clients and their properties. Guaranteeing that they have complete confidence in the company as their taste estate agent franchise. This is what sets them apart from other rental companies. Sarah Johnston was disappointed to see the rental property in Harrogate lose its individuality after working there for almost eight years. Customer service had deteriorated, and landlords were not receiving the attention they needed. That’s why Sarah launched Homes-4, a company that provides landlords and tenants with modern, personalized, and flexible services.
#6. ETHICAL PROPERTY PARTNERS
Founded in: 2015
Initial investment: £30,000
According to the organization, there are 57 ways of making money from real estate. Frank Flegg, the creator of Ethical Property Partners, has built a personal multi-million dollar portfolio of over 60 properties using these tactics. The company’s mission is to use real estate to enhance the lives of its clientele. The British Franchise Association has awarded Ethical Property Partners accreditation (BFA).
#7. 247 PROPERTY SERVICES
Founded in: 2003
Initial investment: £15,000
As a real estate agent franchise, 247 Property Services works for its clients, providing real estate sale and rental services as well as 24/7 support. The company is trying to expand its network of local real estate agents across the region and is searching for people that simply believe in putting clients first.
#8. KEY PROPERTY SERVICE
Founded in: 2014
Initial investment: £4,995
Key Property Services Ltd was founded by seasoned professionals to give landlords and their present agents much-needed management support. You can rely on the company’s approach to offer competent, expert advice on the full range of real estate inventory services in the Northwest, Cheshire, and surrounding areas by providing a comprehensive level of service to rental agents, real estate agents, private homeowners, and individual tenants.
#9. SOURCED PARTNER
Founded in: 2017
Initial investment: £117,500
Sourced Partner is a specialized franchising opportunity that focuses on building profitable HMO real estate holdings. Clients are invited to develop their own passive income utilizing tried-and-true tactics backed up by in-house experts. To ensure the safety of your investment, Sourced Partner offers OTC HMO options from a network of over 100 reputable real estate providers.
#10. BELVOIR
Founded in: 1995
Franchising since: 2012
Franchise units: 300+
Initial investment: £50,000
Through the help of headquarters teams, Belvoir is offering quality professional services to landlords, tenants, sellers, and purchasers, particularly its franchisees. The British Franchise Association has accepted Belvoir as a full member. Belvoir was the first specialty rental agency to be listed on the London Stock Exchange’s AIM (Advanced Market Information). The event, which took place in February 2012, attracted investors to the franchise network. Helping Belvoir to fund its ambitious expansion goals.
FAQs
Can you franchise a real estate company?
Owning your own real estate brokerage is a time-tested path to building wealth, and investing in a real estate franchise is a great way to do it. Among the benefits of buying a real estate franchise are marketing, training, and operational support that allow you to grow your business faster.
Who is the largest real estate franchise?
Keller Williams Realty is an American technology and international real estate franchise that is the number one franchise in the United States by sales volume. It is also the largest real estate franchise by agent count in the world, and one of the largest privately held global residential real estate brokerages.
How many real estate franchises are there?
65,307 real estate franchises It was estimated that there were 65,307 real estate franchise establishments in 2019. Real estate includes lessors of buildings, self-storage units, and other real estate; real estate agents and brokers; and property management and other related activities.
