Entering into the real estate industry is an exciting step to take. Not only does it allow you to become familiar with a particular region, but it also provides an opportunity to help a wide range of clients find their forever homes. However, choosing between investing in a franchise or starting an independent brokerage isn’t a snap decision. Consider the following to determine which option is right for you.

Reputation

While it depends on where you join, the name alone might be enough to jump-start your business. These professionals have decades of experience in building a solid client base and establishing a reliable reputation, which could result in a constant work flow.

Independent brokers don’t have the same amount of clout when first starting out. They might require a couple of years to get their name into the community and prove that they’re worthy of a client’s trust. 

Initiative

Independent brokers tend to have more freedom to take on new initiatives, such as free first-time homebuyer seminars. It does require you to keep an eye out for opportunities that could prove useful to the business, but it shows that you’re willing to go the extra mile to ensure success.

Franchises, on the other hand, may not be as quick to move. They’re open to new ideas but might require prior approval before starting an initiative. On the bright side, if you choose a franchise that’s based on a proven business model, a great number of ideas will have already been established as effective.

Resources

Joining with a larger group provides direct access to their referral network of mortgage officers, home inspectors, and attorneys. They know where to find the best deals and which professionals are most efficient.

Independent brokers have to perform more in-depth research to build their own database and determine who they can trust within the community. It takes time and effort but allows you to create a foundation that will simplify the process moving forward.

If you’re considering operating a real estate franchise, reach out to EXIT Realty Upper Midwest. They’re one of the fastest-growing firms in Iowa, Illinois, the Dakotas, Minnesota, and Wisconsin, and they’re looking to add the best professionals to their family. Every office is independently owned with direct access to leadership training, technical support, and marketing tools. Every territory is protected and provides prime locations for connecting clients with their forever homes. Learn more about their powerful business model by visiting their website. Call (651) 505-3570 to set up an appointment today.