For some estate agents, it makes good business sense to become an estate agent franchise. This is especially true if they want their business to specialize as a letting agent franchise. One reason for this is that it makes sense to become identified with an established real estate franchise chain – the brand of the chain becomes your brand as well and the values that have come to be associated with the brand become associated with you as well.
Before you sign up for a franchise though, it makes sense to explore the brands of different real estate franchises first. Your primary question is “do they deliver on their promises?” As a potential letting agent franchise, you want to develop a reputation for fulfilling promises that you make to clients. Go online and surf for the name of the chain – if they are truly established in the business you are bound to find news about them online. Check comments made about them, both good and bad. If you can’t find anything substantial about the letting franchise chain, try doing a word of mouth inquiry. If they operate in your area, there are bound to be previous clients who have done business with them before, and possibly real estate agents who have also done work for them as well.
Once you have found satisfied clients and franchisees who have worked with that company before, it may be time to explore the company’s website about how they will help you set up your sales and letting franchise. Do they state in the website how much you will need to put up as your start-up investment? Will they help you find the right location for your business? Is there a training program that you have to go through before you are granted the franchise? Will you be training on your own or with other franchisee applicants? Some franchise chains might supply you with materials so you can train on your own at your own pace while others might ask you to go through an in-house training program.
Last, you should also ask about the license that a letting franchise like yours will need to operate. Will you be paying for licensing on your own or will the company pay for that so you can concentrate on studying for your license? Money matters are very important to bring up early in the relationship so that no misunderstandings develop and you can start off on the right foot with the franchise brand you will be joining.
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The Value of Becoming an Estate Agent Franchise