Industry News

Real estate brokerage franchise expands

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Realty World Northern California added 74 new franchise agreements during 2005, bringing the number of independently owned, franchised real estate brokerage offices in its network to 440, the company said today. Realty World said it anticipates adding a similar number of new franchisees to its roster in 2006, despite a real estate market slowdown that is expected to reduce the ranks of real estate brokers and sales associates and result in a higher-than-normal rate of attrition among its franchisees. "We expect to see some fall-off among a handful of brokers who frankly haven't been able to fully leverage the branding, marketing and operational efficiencies we offer," said Scott LeForce, president and CEO. "However, we also are seeing a trend among industry veterans who want to open their own brokerage because they are tired of subsidizing the cost of bricks and mortar offices that look impressive but don't help them sell real estate or add value to the client relationship. They're s...