Q&A: Does REMAX Franchise in the UK?
Alice Tuffery, writer
Published at 26/03/2019, Updated on 04/05/2022 , Reading time: 5 min
REMAX is one of the biggest estate agency businesses in the world, with multiple bases across six continents. But can you get on the bandwagon? In this article, we ask: Does REMAX franchise in the UK?
REMAX is a global estate agency network with offices in more than 110 countries. It began with humble beginnings in Denver, Colorado but now has a chain of over 110,000 property agents working across more than 7,000 sites worldwide. In Europe, there are more than 18,000 professionals spread across 34 countries.
Thanks to its huge market coverage, REMAX is an industry leader, and all its agents have developed expertise in their local property market.
Does REMAX franchise?
Yes! Franchising is key to the REMAX business model. In fact, the company has been franchising for over 40 years.
Since REMAX first took up the franchise model, it has always been passionate about giving franchisees maximum independence. As part of its strategy, the company lets agents keep up to 80 percent of the commission they generate from each property sale.
“Like attracts like; that’s just one reason agents join REMAX, along with the number one brand in real estate, our training programmes, lead referral system, the high commission split and the independence. That’s why we believe the very best agents join REMAX and stay with REMAX.” – Margaret Kelly, CEO of REMAX
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History of REMAX
REMAX was founded in 1973, when real estate agents Dave and Gail Liniger decided to launch a business in Denver, Colorado. It didn’t take long for the company to reach international consumers, and by 1995, REMAX had expanded into Europe. Walter Schneider and Frank Polzler were behind this move, helping the business utilise the franchise model to reap big rewards.
“Frank and Walter understood franchising, they fell in love with our concept, they opened the entire European continent for us, and overnight they revolutionised our company. No other brand matches our global footprint, and that gives us a unique competitive advantage.” – Dave Liniger, REMAX Co-Founder and Chairman
By the 21st century, REMAX had become a huge player in the estate agency sector, significantly outselling their competitors. By 2018, the franchise could double the number of transactions completed by other property networks. And, thanks to its presence in all major international markets, REMAX had a brand awareness rate of over 30 percent.
It was inevitable that REMAX would become number one. The opening of offices, the adding of additional agents, not only in the US and Canada, but in over 90 countries has given us the ability to say, no one sells more real estate than REMAX. – Dave Liniger, REMAX Co-Founder and Chairman
Starting a REMAX franchise unit
REMAX is looking for existing property agents who want to unleash their full potential. Unlike many other estate agencies, REMAX doesn’t offer a basic salary and doesn’t cap its associate earnings. This means the franchise is suited to self-motivated people who don’t want to subsidise the earnings of their less productive colleagues.
Becoming a REMAX franchisee: REMAX prides itself on the freedom it gives associates. Beyond the basic REMAX guidelines, franchisees can tailor their business operations to their local market to maximise their earnings. They’re also given the REMAX toolkit, which includes access to a referral system, worldwide networking opportunities and national advertising. See below to find out more about the support on offer at REMAX.
How much you need to invest: REMAX does not publicly disclose its required business start-up costs. To find the details you need, you should get in contact with the franchise directly via its website. However, we estimate initial costs should come in at around £20,000.
What you get for your investment: REMAX offers a large amount of support to its franchisees. Here are just some of the perks you’ll have:
- REMAX conducts regular research into property market trends and shares the results with its franchisees. By analysing the data collected from REMAX’s website search engine, each associate has access to market leads and the ability to keep a finger on the pulse of consumer demand.
- Every franchisee is given a range of tech tools, including website templates, mobile applications and social media resources, to help them to navigate the online market.
- You’ll get complimentary membership to the Mainstreet hub. This is an online, members-only resource allowing associates to network within the global REMAX community, download training resources and gain access to company news.
- The franchise runs award-winning training with REMAX University. This resource provides high-resolution videos focussing on how to grow your property network. Whether you’re looking to expand into a different property sector or just want a little extra motivation, REMAX University provides you with the right support.
>> Read more:
- Franchising 101: The Complete Guide to Franchise Costs in the UK
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- Franchising 101: Top 5 Qualities of a Franchisee
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- Franchising 101: The Pros and Cons of Franchising Your Business
Choose the property sector
The property industry has huge profit potential for entrepreneurs looking to take control of their income.
In the UK, real estate has a market value of over £1.6 billion, which is more than 20 percent of our total net wealth. Every year, the property sector generates over £100 billion to our economy, representing seven percent of gross domestic product. The commercial division of the UK’s property sector directly employs more than a million people and supports another million after that (British Property Federation).
This is an industry with huge influence, so it’s definitely worth keeping in mind if you’re interested in running your own business. By joining a franchise like REMAX, you can follow your dreams of entrepreneurship whilst benefitting from the security of an established, world-renowned brand.
Don’t worry if the REMAX franchise model isn’t quite right for you. We have a wide selection of franchises in the property and real estate sector. Click on the link to browse your options; you’ll be able to sort the list by the franchises’ popularity and investment requirements.
Alice Tuffery, writer