Independent real estate franchise NextHome has been named the top franchise in North America for 2021, franchise market research firm Franchise Business Review announced on Thursday.
In 2020, the flexible-spending model franchise had been named the overall No. 3 franchise, while earning the top-ranked franchise in the real estate category. At that time, CEO James Dwiggins told Inman that the company’s goal would be to one day earn that overall top rank — this year, they achieved just that.
“Being ranked the No. 1 franchise overall by Franchise Business Review is an incredible achievement, and it’s all thanks to our members and amazing corporate staff,” Dwiggins said in a statement. “Without their hard work and passion for making a difference in the real estate industry, NextHome wouldn’t be where it is today. Our ‘Humans Over Houses’ philosophy is fostered in every decision we make as a franchise. Receiving this award confirms we are leading in the right direction for our members and is the reason we love what we do every day.”
This is the 16th annual year that Franchise Business Review has ranked the top 200 best franchise opportunities based on independent surveys of franchisee satisfaction and performance. Questions include topics like satisfaction regarding training and support, operations, franchisor/franchisee relations, financial opportunity, and others.
Only two other real estate franchises earned slots in the overall top 15 franchises, including Keller Williams, which came in No. 2 and Sotheby’s International Realty, which came in No. 12. Weichert Real Estate and Better Homes and Gardens Real Estate also made the overall top 50 list at No. 16 and No. 42, respectively.
Other franchises that received top ranking in the real estate category for 2021 include United Country Real Estate, Showhomes Home Staging, JPAR Real Estate and Help-U-Sell Real Estate.
In order to be ranked, franchises must register to be surveyed by Franchise Business Review by a deadline that usually falls in September. This year, over 300 franchise brands representing more than 28,000 franchise owners participated in Franchise Business Review’s surveys.
In 2020, Keller Williams told Inman the company didn’t make the deadline to participate that year, while Sotheby’s made No. 2 in real estate, Weichert was No. 3 and and Better Homes and Gardens was No. 4.
“There are thousands of successful franchise companies operating in North America, but many of those companies do not offer a solid investment opportunity for the actual franchise owners,” Eric Stites, CEO of Franchise Business Review, said in a statement. “As an independent research firm, we rate the franchise companies in the marketplace today and identify those that have the highest levels of satisfaction and performance among their franchisees in order to educate potential buyers and help them choose which franchise to invest in. This year’s Franchisee Satisfaction Award winners truly are the best-of-the-best.”
In October, NextHome launched its new luxury brand, “The Casan Collection.” The franchise now has over 480 offices and 4,400 agents across 48 states, closing over 29,000 transactions on a yearly basis worth over $8.2 billion in volume.