Login
iscover
When planning for your future agency, selecting the most suitable model requires seeing the principal’s perspectives and taking these insights in the context of your personal preferences.
Acknowledging the diversity among real estate professionals, Your Future Network 2023 probes into the perceptions of more than 700 emerging talents and seasoned experts, extracting various themes in how they run their businesses.
For instance, franchise networks and independent agencies have their respective strengths that complement agents in levelling up their careers.
From the study, which is partnered by Raine & Horne, both franchise networks and independent agencies are generally satisfied with their current model.
However, zooming in on these statistics highlights how crucial differences lie between these two models. An even more granular approach reveals that within a franchise network model, there are significant variations in how branded and white-label franchise networks rate their satisfaction.
Specifically, 36 per cent of branded franchise owners have indicated they are “extremely satisfied”, while 43 per cent said they are “satisfied”. In contrast, the numbers are 27 per cent and 33 per cent, respectively, for those running white-label franchise networks.
With branded franchise owners, 13 per cent said they are neutral about how their current office model is running, while those operating white-label offices are higher by 7 per cent.
The trend remains the same further down the satisfaction spectrum for both franchise types, as only 8 per cent of branded franchise networks register dissatisfaction. In comparison, the number rises to 20 per cent among white labels.
These findings show that those operating a branded franchise are 1.3 times as likely to report overall satisfaction than their non-branded counterparts.
These satisfaction ratings also hint at the owners’ office prospects going forward.
With a broader majority of branded franchise owners indicating that they are pleased with how their businesses are running, nine in 10 are intent on sticking to their status quo. Five per cent are considering opting for a white-label franchise instead, while 8 per cent are inclined to dip their toes into an independent agency arrangement.
However, the numbers are slightly lower among those running under white-label franchise networks. After 60 per cent indicated satisfaction with their current model, an equal fraction shared that they intend to continue utilising the same business structure in the long term.
As the spotlight shifts to independent agency owners, satisfaction ratings go even higher, with nine in 10 indicating they are either “satisfied” or “extremely satisfied”.
Specifically, 59 per cent indicated they are extremely satisfied with their status as an independent agency, and another 31 per cent reported that they are “satisfied”.
While 9 per cent are neutral in how they feel about their status, only 1 per cent reported extreme dissatisfaction.
When asked about their prospects in choosing a model for their agency, this strong satisfaction rating among the business builders carries over into the dominant sentiment that they intend to remain independent going forward.
Of the independent agency owners, an astounding 90 per cent intend to stay as an independent agency, while the remainder mainly plan on switching to a branded franchise network.
You can read more of the report’s findings here.
You are not authorised to post comments.
Comments will undergo moderation before they get published.