Becoming a franchise owner comes with a lot of benefits that can help a smaller, independent brokerage, such as marketing and operational support and brand recognition. However, there are also a number of fees and costs that go along with joining a franchise. If you’re interested in opening a franchise, see what some of the major brokerages can offer you. And check out our cover story on page 12 to read how some Chicagoland agents have successfully made this important career move.
| Company Name | Buy In Cost | Fees | Benefits | Date Established | # of Franchises Nationally | # of Franchises in Chicago |
|---|---|---|---|---|---|---|
| Better Homes and Gardens Real Estate | $35,000 | 6% royalty | Business consulting, marketing, tools and training | 2008 | 91 | 1 |
| Century 21 | $25,000 (first office) $10,000 (branch office) | 6% royalty | Operational Support, international branding, recruiting, business resources, technology, on-going support | 1971 | 2,300 | 68 |
| Coldwell Banker Real Estate LLC | $25,000 | 6% royalty | Operational support, international branding, recruiting, business resources, technology, on-going support | 1906 | 2,200 | 155 |
| Crye-Leike | $13,500 to $25,000 | 6% royalty, 20% renewal | Sales training, relocation services, marketing, sales leads, recruiting systems | 1998 | 115 (28 franchise offices, 87 corporate offices) | 0 |
| Engel & Volkers | $35,000 | 6% royalty, $17,000 renewal | Global sales opportunities, virtual reality support across all of our licensees, EDGE – a new domestic and international syndication platform | 2006 in the U.S. | 115 | 0 |
| Equity USA | $1,600 | $499/transaction | Payroll services, broker training, transaction tools, websites, E&O insurance, profit sharing, operational reimbursement | 2002 | 60 | 1 |
| ERA Franchise LLC | $25,000 | 6% royalty | Operational support, international branding, recruiting, business resources, technology, on-going support | 1971 | 520 | 2 |
| Exit Realty | $7,500 (rural) to $32,000 (urban) | 10% of the current franchise fee upon renewal | Technology, tools and training and a unique formula that provides the opportunity for all EXIT associates to earn residual income. | 1999 | 510 | 7 |
| John L Scott Realty | $15,000 | 5% royalty, $2,500 renewal | Technology, presentations, coaching, luxury market clients, marketing | 1990 | 76 | 0 |
| Keller Williams | $35,000 | 6% royalty | Coaching, profit-sharing, international brand recognition | 1987 | 743 | 2 |
| List4Less / Sell4Free | $29,000 | 5% royalty, $1,000 renewal | 95% commission retention | 2002 | 9 | 0 |
| NextHome Inc | $2,750 to $6,750 | $185/month/agent or 6% | A fully automated and integrated system, state of the art proprietary technology platform with single sign on access, branding, marketing, advertising, recruiting, support, training and more. | 2015 | 200+ | 1 |
| REMAX | $12,500 to $35,000 | $5,000 to $17,500 renewal | Worldwide recognition, extensive training | 1973 | 3679 | 105 in northern Illinois |
| Sotheby’s International Realty | $25,000 | 6% royalty | Operational support, international branding, recruiting, business resources, technology, on-going support | 2004 | 615 | 6 |
| United Country | $15,000 | $1,500 renewal | Differentiation for lifestyle properties in small cities, towns and country markets | 1997 | 450 | 3 |
| Weichert | $25,000 | 6% royalty | One on one support, tech, business plans, workshops | 2001 | 388 | 15 |