COLDWELL BANKER RESIDENTIAL Franchising Guide
Coldwell Banker is an affiliate of Realogy Inc, which is the global franchisor of so many popular brands in the real estate business. Realogy franchise is dedicated to delivering values to their sales agents and brokers through the provision of powerful realtor marketing, training, mentorship, sales support, service and tools. This article will give a thorough explanation on how much is a Coldwell Banker residential franchise.
FRANCHISE INFORMATION ABOUT THE COMPANY
After the 1906 earthquake that hit the city of San Francisco, a business man called Colbert Coldwell noticed how the real estate agents of that time ripped off victims of the earthquake. He then decided that there was a need for better reliable agents that possess vast knowledge in the real estate business. It was in the same year that he founded his company. Another business associate, Benjamin Banker joined him in the year 1914 and they became partners.
Presently, agents working with Coldwell Banker handles sales of residential and commercial real estates.
The company is known to set paces in the industry. They are the pioneers with more than a century experience and also the first full-service real estate firm to launch an interactive website, create an application on iPad, streaming live videos about the process of work, YouTube channel, mobile-friendly websites and also their world-class trainings offered to their franchisees.
IS COLDWELL BANKER A FRANCHISE?
Coldwell Banker Inc has so many years of real estate experience, but it wasn’t until the year 1982 that they began selling franchise opportunities. Coldwell Banker is a franchise and they have a highly performing franchise model, which can be confirmed in their close to 3000 franchise units spread at different locations of the world.
THE COLDWELL BANKER FRANHCISE EXPERIENCE
If you are looking for a franchise opportunity that will afford you the chance to live a life of freedom and utmost satisfaction, then it will be a great choice to consider buying into the Coldwell Banker franchise. When you decide to join the company, you will be considered as part of the league of Generation Blue, which is a shared culture of the company’s professionals in over 50 countries across the world.
These professionals focus on pushing their businesses forward and are always striving to stay up ahead of emerging technologies and new trends in the industry.
HOW MUCH DOES A COLDWELL BANKER FRANCHISE COST?
The Coldwell Banker franchise cost is the summation of the entire expenses that a franchisee will make to establish a franchise unit. The initial investment needed to open a unit will range between $25,000 and $80,000. New franchisees with the company are also expected to have a net worth requirement of about $150,000.
COLDWELL BANKER FRANCHISE FEE
The Coldwell Banker franchise fee is that payment that the company expects every new franchisee to make in order for them to be granted the license to operate under the company’s brand identity. The initial franchise fee is $25,000. Additional on-going royalty fee of 6% and an ad royalty fee of 2.5% of the monthly gross revenue of the franchise unit is also payable to the company.
DOES COLDWELL BANKER FRANCHISE GIVE TRAINING?
Coldwell Banker franchise offer training to their new franchisees. The company will render trainings to responsible real estate brokers of any other person designated by the franchisee. The program is considered mandatory and will be completed to the company’s satisfaction within the 1st year of signing the franchise agreement.
Franchisees with Coldwell Banker will not get any right to an exclusive territory. There is the possibility of a franchisee facing competition with other franchise units of the company.
TERMS OF AGREEMENT
The period of time that a franchisee will hold the license to operate under the company’s brand is 10 years. This is renewable after the expiration of the 1st 10-year term if the franchisee wishes to do so, or if they are able to meet up with the company’s terms and conditions for renewal.
DOES COLDWELL BANKER OFFER FINANCING?
Franchisees with the company will benefit from Coldwell Banker’s policy of offering funding in-house to cover the franchise fee as well as startup costs.
HOW MANY FRACHISE UNITS DOES COLDWELL BANKER HAVE?
Across the world, there are about 3000 Coldwell Banker franchise units. Both commercial and residential.
HOW TO OPEN A COLDWELL BANKER FRANCHISE
Once you have gotten all the information you need on how to open a Coldwell Banker franchise, the next step you will need to take is to log onto the company’s website and submit your application.
Once the company receives the application, they will get back to you after some few days. If you are considered for a franchise opportunity, the company will assign a franchise manager to you. The franchise manager will then set you up for further evaluation to confirm your eligibility to open a Coldwell Banker franchise. Once it is confirmed, you will be made to sign the Franchise Disclosure Document and also pay the initial franchise fee.
The franchise manager will then work alongside his team members to assist you in establishing your franchise unit.