Estate agent Franchise opportunities

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  • #60575

    Donjohnson
    Member

    I am currently investigating the different franchise opportunities available to purchase a estate agent franchise model

    The reason for this is I like the idea of an established brand rather than setting up from scratch

    Could anyone give me some advice:

    1.Is it a good time to into the estate agency industry

    2.Is the franchise model the best way

    3.Online or high street presence what is the best

    4.Can you still make a decent living

    My background is in marketing and sales and I have worked with a number of estate agents on their marketing in the past

    thanks for the assistance

    #60696

    jaicwfl1990
    Member

    Donjohnson – I have just noticed your post, and I would be more than willing to have a chat with you whenever suits to go through all the questions you have.

     

    Please feel free to drop me an email with the best number to give you a call on: jamesaicampbell@gmail.com

    #60698

    smile please
    Member

    Quick answer to your questions,

    1. No

    2. Depends

    3. High Street

    4. Yes

     

    Here is a longer answer, Its a bad time to get into agency, the industry is saturated in agents and its more expensive than ever to run a business correctly. However, its never going to get any easier. If you are committed and go in with your eyes open now is a good a time as any.

    Franchises can help, if you have no experience in agency they do have support, they will over play what they do but you will have access to literature, online training and people to talk to. Don’t expect them to do the job for you or deliver you a bucket load of leads (does not happen). The start up could be useful as you will get reduced portal fees and CRM systems, some even provide a call answering service which is helpful to keep staff costs down in the early days. HOWEVER, once you know what you are doing, you may resent paying them a hefty turnover fee as you out grow them, you may find it difficult to walk away from agreements in place. Personally if you know what you are doing, why subject yourself to other peoples rules and pay them to have restrictions in place? I would not go down the route but i can see why some would.

    High street definitely. Despite how easy you think it will be starting up the hardest part is building a sensible amount of stock. Trying to portray yourself as a professional in an over saturated market against established brands, why would someone instruct you working from your bedroom? Because you are cheaper? Already some that list properties for a couple hundred quid. Sell yourself on service and make them feel they are secure you have an office (its a few hundred quid a month, nothing in the grand scheme).

    Yes you can make a good living (i do) but it will be hard work, you will need a minimum of 50k set up funds, and you will not be making a living for 12 – 18 months so on top of that you will need a partner to support you at home and be understanding you will not be having the winter sunshine holiday for a year or 2. Ultimately it comes down to how much effort you put in and can you actually offer something different to other agents? I would urge you to take a good member of staff on from day one, if i did it over again lots of things i would change but that would be the biggest.

    Feel free to ask any questions.

    #60829

    PeeBee
    Member

    smile please has given you a very frank and comprehensive answer.

    Mine would have been more succinct, and would have been to Q1 only.

    A:  For you – no.

    The other questions you raise are therefore irrelevant.

    Hope this helps – however I doubt you will see it that way.

    • This reply was modified 1 month, 2 weeks ago by  PeeBee.
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