What it takes to be a successful franchise owner

Managing broker Doug Wolfe shares his experience
  • Franchise owners need to follow the company's playbook of success.
  • A successful franchisee is a leader who isn't afraid to ask for help.
  • A franchise can take a successful brokerage team to the next level.

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Residential real estate brokerage franchise co-owner Doug Wolfe, Virginia Beach Owning a real estate franchise can be extremely lucrative -- for the right person. It’s not enough to have real estate experience or cash on hand. It takes a certain kind of personality to successfully open and grow a franchised real estate brokerage. We talked to Virginia Beach managing broker Doug Wolfe about opening a franchise and who should look into owning one. Wolfe has been in the real estate industry for 20 years and has earned many designations. As a Hampton Roads expert, Wolfe teaches for the local Realtor association and Alpha College of Real Estate. Wolfe already owned a successful brokerage and had a team in place when he decided to step into franchised brokerage ownership with Redefy Real Estate. After four months of hard work and gaining traction in the Hampton Roads area, he shares his experience and advice in the Q-and-A below. Why would an experienced, successful broker op...