Frequently Asked Questions
The initial franchise fee is $18,500 plus applicable taxes for a term of 7, 10, 15 or 20 years.
Your operating costs are dependant on a variety of factors such as leasing costs, staff costs, advertising costs, etc. Therefore each office will have different operating costs.
The monthly fees for the broker/franchisee are as follows:
1) Monthly Service Fee: $274/month or $195/month if located in a community of 10,000 people or less,
2) Monthly Advertising Contribution: $39/month,
3) Internet Fees: $25/month up to 5 registered agents in your office or $49/month if 6 or more registered agents in your office.
Total Monthly Fees: $338/month or $362/month for more than 5 agents
The monthly fees for each agent are as follows:
1) Monthly Service Fee: $90/month per agent up to a maximum of 100 agents. After you have 101 or more agents the maximum monthly fee is $9,000. The monthly service fee for 101 or more agents is the same as the monthly fee for 100 agents
2) Monthly Advertising Fee: $39/month
Total Monthly Fees: $129/agent
As with operating costs, your income is dependant on a variety of factors such as number of agents, number of listings, location, average listing/selling price, commission splits with agents, etc.
We are seeking experienced business operators, preferably with, but not limited to, real estate experience. A real estate brokers license is also preferred but not necessary. Also, the owner should have a sense of community involvement in the area where they intend to locate their office. We also look for owners who are willing to implement and use the HomeLife ™ Marketing, Education & Recruiting programs with their agents on an ongoing basis.
No you do not need to have either a brokers or agents license but you must employ a person with a brokers license to act as the Broker of Record for your location.
Normally the process takes a minimum of 10 days but may be shortened in certain jurisdictions to as little as 2 days.
HomeLife™ offers training programs for Brokers and Agents multiple times during each year as well as workshops. This includes our Marketing, Education, Recruiting, Income for Life, Lifestyle Plan 104, No Agent Left Behind, HomeLife 52/365 Marketing and MBA programs
Initially you should look for a location that is suitable in size for you to start your business. An average of 2,000 to 5,000 square feet is suitable for a startup office although depending on how many agents you have in the beginning, you may require less or more area. If you have the ability to expand this space in the future to accommodate growth, that would be a benefit. Also, street frontage is more advantageous for advertising than being located away from the main traffic flow.
Yes. This depends on the proximity to other existing HomeLife™ offices in your area.
Although each office is an independent business and therefore responsible for their own local advertising, HomeLife™ participates in national and regional advertising campaigns using traditional media such as print, television and radio in collaboration with digital advertising such as HomeLife.com, Facebook and Twitter.
Master Franchises are available worldwide but are issued on a case by case basis.