Many successful agents who are ready to take their real estate career to the next level hesitate. After all, buying a franchise is a major investment in both time and financial resources, which you might think you can’t afford. However, when you consider how much you pay to a brokerage, running your own business can cost less while unlocking the door to limitless growth.
Owning a Franchise vs. Paying Your Broker: Which Is Better for Your Real Estate Career?
Buying a Franchise
The costs of entering into a franchise agreement vary widely from one company to the next. Some franchisers might charge millions, while you can license others for less than $100,000. However, many top companies who invest heavily in the success of their franchisees provide some vital services in exchange, including regular training, cutting-edge technology, and instant brand recognition, which draws in clients and other agents.
Paying a Broker
Now, compare the cost of buying a franchise with the expense of working for someone else. A quality broker who provides their agents with a lot of training and support might take up to 50% of your commissions, which can add up over time. For instance, if you earn a $3,000 commission on a sale, your broker might take $1,500 plus your desk fees. If you sell 50 hours in a year, receiving a $3,000 commission each time, you’ll pay your broker approximately $75,000, which might be enough to purchase your own franchise and invest in your real estate career.
EXIT Realty Upper Midwest is a regional powerhouse for real estate professionals, offering agents throughout Iowa, Minnesota, Wisconsin, and the Dakotas all the tools they need to run their own franchise. With sophisticated tools and an innovative business model that gives you the chance at nearly unlimited income, they’re shaking up the industry one franchise at a time. To find out how they’ll help you get the most out of your real estate career, visit their website, call (612) 414-4022, or follow their Facebook today.