A growing number of new and experienced real estate agents have decided to join franchises for stability and name recognition, Crain's Chicago Business reports.
Agents told the paper that franchises come with "ready-made materials for marketing, advertising recruiting and accounting" that are ideal for agents just starting their small business opportunity.
The trend toward franchised real estate agencies is one that has been seen nationwide. The paper says that in 1995, 25 percent of real estate agents worked for a franchise. In the 15 years since, that number has risen to 40 percent.
One agent told the paper that while the actual selling process isn't any easier, the name recognition associated with the franchise helped increase her credibility - going from $3 million in sales per year to $28 million - a jump even more important in an industry where most people work on commission.
By far, the two largest real estate franchises in the country are Century 21 and Re/Max - both of which have more than 120,000 sales associates and brokers, and more than 6,800 offices nationwide.
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