The 3 Strategies We Used to Open 24 New Real Estate Franchises in Just One Year

Whether in the real estate industry or an unrelated field, the formula is the same: Combine the right people in the right places with unparalleled support and resources.

learn more about Mauricio Umansky

By Mauricio Umansky

Opinions expressed by Entrepreneur contributors are their own.

There's no better feeling than creating a business model so innovative and successful that others just have to be part of it. And not just any part: they want to invest under its umbrella and bring your vision to their respective marketplace. I'll never forget how it felt to hear real estate professionals I respect say, "We want in. We don't just want to work at The Agency (a global and billion-dollar real estate brokerage), we want to own a piece of it."

Creating an industry-disrupting business — then making it scalable and repeatable — is a dream come true for any entrepreneur, but how do you go about doing that? How do you continue to foster growth from a franchise perspective?

When we founded The Agency, we were a group of real estate agents frustrated with the state of our industry and tired of competing with our colleagues at the next desk. Fortunately, we had a clear vision of the kind of collaborative, boutique working environment we wanted to create for ourselves, our fellow agents and clients, and there's one thing we grasped quickly: The key to growing as a franchise operation is never forgetting how and why you started. We currently have 70 offices and counting (24 opened in 2022 alone), and through every step of growth, we've stayed true to the original vision and service structure.

The first focus has always been — and continues to be — our people. Who you invite into your circle impacts so much of business, from productivity to morale, culture to reputation. And when it comes to franchising, of course, it's essential to partner with professionals you align with and respect.

Related: 7 Tips for Managing Your Real Estate Business Like a Pro

We like to refer to our independently owned offices as global partners, rather than "franchises." They don't just gain access to our branding and business model; they are brought into our community on every level. For example, we don't have separate corporate meetings and franchise meetings but come together as one global community to advance the business. When your partners sense this inclusivity and feel they are part of something special, they often become your biggest brand ambassadors.

After this "who" comes the "where" and "when." Although we choose where we open next based on people first, geography remains a major factor. As we likely all know by now, the key to real estate success is location, location, location: It's imperative to strategically launch offices in new markets that feed an existing network, no matter what business you're in. The reason people choose to franchise with you is the growth they can experience on a local level.

Providing your partners with a global network to tap into — whether for new business, expertise or knowledge — is a key differentiator in fostering growth. And that works both ways: Breaking into a new market allows an existing network to rely on the expertise of your newest franchise partner, and so on. The timing of launches can also have a huge impact, such as debuting in Cabo in time for spring break, or just in time for ski season in the Colorado Rockies.

Related: Become a Franchise Owner in 5 Easy Steps

And finally, there's the "what." What does a partnership with your company provide, as far as tools and services that drive value and elevate the business of potential partners? Over the past 12 months, we've made it a priority to support our global partners with a more comprehensive suite of services. The goal is to cover the entire ecosystem of the home-buying and selling experience and expand that scope to include everything from mortgage to title insurance, warranties to inspections. We did this to help our agents increase the efficiency and speed of the sales process while providing guidance every step of the way.

Additionally, we offer the best staff-to-agent ratio in the industry: 340-plus staff service 1,500-plus agents globally. This allows us to provide boutique, concierge-level service — such as in-house marketing, public relations, technology and relocation divisions — even as we continue to grow. These types of services are essential in a market where clients expect total convenience and rely on agents before, during and after every transaction.

Related: Want Your Business to Grow? Ask Yourself This Question Every Time You Make a Decision.

When strategizing growth from a franchise perspective, whether in the real estate industry or an unrelated field, the formula is the same: the right people, in the right places, backed by unparalleled support and resources. Growth will then come naturally.

Mauricio Umansky

Entrepreneur Leadership Network Contributor

CEO and Founder of The Agency

Mauricio Umansky is the founder and CEO of The Agency, a billion-dollar brokerage that utilizes world-class technology and innovative marketing strategies. Founded in 2011, the firm fosters a culture of collaboration and has since expanded to more than 48 offices across the globe.

Related Topics

Editor's Pick

Everyone Wants to Get Close to Their Favorite Artist. Here's the Technology Making It a Reality — But Better.
The Highest-Paid, Highest-Profile People in Every Field Know This Communication Strategy
After Early Rejection From Publishers, This Author Self-Published Her Book and Sold More Than 500,000 Copies. Here's How She Did It.
Having Trouble Speaking Up in Meetings? Try This Strategy.
He Names Brands for Amazon, Meta and Forever 21, and Says This Is the Big Blank Space in the Naming Game
Money & Finance

What Is a Good Credit Score and How Do I Get One?

Is bad credit holding you back? This article explains what constitutes a good credit score and how to raise your score if it's low.

Business News

I Live on a Cruise Ship for Half of the Year. Look Inside My 336-Square-Foot Cabin with Wraparound Balcony.

I live on a cruise ship with my husband, who works on it, for six months out of the year. Life at "home" can be tight. Here's what it's really like living on a cruise ship.

Business News

These Are the Most and Least Affordable Places to Retire in The U.S.

The Northeast and West Coast are the least affordable, while areas in the Mountain State region tend to be ideal for retirees on a budget.

Business News

Amtrak Introduces 'Night Owl' Prices With Some Routes As Low As $5

The new discounts apply to some rides between Washington D.C. and New York City.

Business News

The 'Airbnbust' Proves the Wild West Days of Online Vacation Rentals Are Over

Airbnb recently reported that 2022 was its first profitable year ever. But the deluge of new listings foreshadowed an inevitable correction.