Questions to Ask About a Real Estate Franchise

real estate imageMany people imagine getting into the real estate business, and it’s not hard to see why. Not only can it be an extremely rewarding job, but being a real estate agent can also be very lucrative for a person who is excellent at matching the right house with the right family.

One of the questions that will come up for many people is whether or not they should deal with a real estate franchise. This can come in the form of choosing to become part of a franchise already operating in the area or even looking at grabbing your own franchise to be a part of a larger real estate selling organization.

There are many advantages to going this direction, but there are also a lot questions you should ask before deciding whether or not a real estate franchise is the right move for you.

The first is to know which franchises you would want to be a part of. One of the major differences between franchises is how management is done. Is there one single head of the organization to make final decisions on disputes, or is it regional? Does each area have one distinctive person in charge following a widely accepted rule book, or could you see overlapping areas where chaos could rule? These are things you want to know clearly before making any decision.

A great way of figuring out if a franchise is a good deal is to get the numbers on how many new franchisees the past few years have joined, and how many have left or switched. These numbers are very important and can give you an idea if the company is growing strongly or if franchisees are jumping ship in droves.

You should also talk about training. Do you receive any type of training when becoming a franchise owner? Do you learn tips or tactics for selling Caledon real estate and running a business, or do you get a name and nothing else? Those are the huge differences between various real estate franchises.

Some offer great training programs while others don’t, and that makes a really huge difference in whether or not a franchise is a good idea. If it’s just a name in many cases it’s not worth it – but depending on the training and support provided a truly good franchise can make a huge difference.