Real estate franchises are unlike any other franchise category. You're not buying a recipe or a service protocol — you're buying a brand, a commission structure, and an agent recruitment system. The difference between the best and worst real estate franchise outcomes isn't the brand. It's whether the owner can recruit and retain productive agents.
This guide ranks 8 major real estate franchise systems by actual investment, average unit revenue, royalty structure, and franchisee satisfaction scores — using verified data from their Franchise Disclosure Documents, not from franchise sales pitches.
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Data as of April 2026. All figures sourced from FDD Item 7 (investment ranges), Item 19 (financial performance), Item 20 (unit counts), and Item 6 (fees). FranchiseStack database contains 9 real estate franchise records with full investment and royalty data verified from publicly available FDD filings.
Quick Comparison: 8 Real Estate Franchises (2026 FDD Data)
| Franchise |
Model |
Min. Investment |
Max. Investment |
Royalty |
Avg. Revenue |
US Units |
Satisfaction |
| Keller Williams | Traditional | $183,600 | $336,810 | 6% (capped) | $2,000,000 | 1,200 | 78/100 |
| RE/MAX | Traditional | $38,500 | $224,500 | $0 (desk fees) | $1,200,000 | 9,000 | 72/100 |
| eXp Realty | Cloud | $3,000 | $8,000 | 20% split (capped) | — | 90,000 | 74/100 |
| Realty ONE Group | Traditional | $22,000 | $243,000 | 5% | — | 20,000 | 78/100 |
| Century 21 | Traditional | $25,000 | $525,000 | 6% | — | 14,000 | 73/100 |
| Coldwell Banker | Traditional | $16,000 | $1,500,000 | 6% | — | 3,200 | 72/100 |
| HomeVestors | Investing | $90,000 | $413,600 | $0 | $500,000 | 1,150 | 74/100 |
| Berkshire Hathaway HomeServices | Traditional | $25,000 | $150,000 | 6% | — | 1,500 | 75/100 |
Satisfaction scores from franchisee surveys; AUV data from FDD Item 19 where disclosed. "—" indicates franchisor did not disclose Item 19 financial performance representations.
Tier 1: Highest Revenue Potential
Traditional Brokerage
Keller Williams
Investment Range
$183,600–$336,810
Royalty
6% (capped at $3K/agent/yr)
Avg. Revenue (Item 19)
$2,000,000
Keller Williams differentiates on its profit-sharing model: agents earn a share of the Market Center's profit when they recruit other agents. This creates a retention mechanism that traditional commission splits don't have — agents who built a downline have financial incentive to stay. The KW royalty cap at $3,000 per agent per year means high-producing agents effectively pay almost nothing in royalties, which is a strong recruitment pitch.
The $2M average revenue figure reflects gross commissions retained at the Market Center level — owner take-home depends heavily on operating cost management and the size of the profit-share obligation to productive agents.
✓ Profit-sharing model creates agent loyalty and recruitment flywheel. Royalty cap benefits high-producing offices disproportionately.
⚠ Higher upfront investment ($184K minimum) and more operational complexity than RE/MAX or Century 21. Requires strong leadership and team-building skills.
Traditional Brokerage
RE/MAX
Investment Range
$38,500–$224,500
Royalty
$0 (desk fee model)
Avg. Revenue (Item 19)
$1,200,000
RE/MAX charges desk fees rather than commission splits — agents pay a monthly fee to operate under the RE/MAX brand, and the franchisee keeps 100% of commissions on their personal production. This model creates predictable, recurring revenue for the franchise owner that doesn't depend on commission volume. The tradeoff: agents at RE/MAX offices tend to be experienced producers who expect autonomy, which limits the owner's leverage to drive team behavior.
✓ 48 years franchising, 9,000 US units — maximum brand recognition. Desk fee model provides predictable revenue regardless of market conditions.
⚠ $1.2M AUV vs. Keller Williams' $2M — RE/MAX offices tend to be smaller with fewer agents. Growth ceiling lower without a recruitment incentive model.
Real Estate Investing
HomeVestors ("We Buy Ugly Houses")
Investment Range
$90,000–$413,600
HomeVestors is the only investing-focused real estate franchise in this comparison. You're not running a brokerage — you're buying, renovating, and reselling distressed properties under the "We Buy Ugly Houses" brand. Revenue comes from the spread between acquisition price and sale price. No royalty. Income is entirely transaction-based and depends on deal flow, renovation execution, and local market conditions.
✓ No royalty. The "We Buy Ugly Houses" brand has 26 years of recognition and generates direct leads. Strong in any market where distressed inventory exists.
⚠ Capital-intensive — each deal requires acquisition funds beyond the franchise investment. Requires real estate investing acumen, not just sales skills.
Tier 2: Lower Entry, National Brand
Cloud Brokerage
eXp Realty
Investment Range
$3,000–$8,000
Commission Split
20% (cap $16K/yr/agent)
eXp operates entirely virtually — no physical office. The $3,000–$8,000 investment is by far the lowest in any real estate category. eXp has grown to 90,000 agents primarily through its revenue-share (similar to profit-share) model where agents earn income when they recruit other agents. The model functions more like a network than a traditional brokerage franchise. Item 19 financial performance data was not disclosed in the most recent FDD.
✓ Lowest entry cost in the category. 90,000 agents creates massive referral and collaboration network. Virtual model has no physical overhead.
⚠ No Item 19 disclosure — revenue potential is harder to benchmark. Agent attrition in cloud brokerages tends to be high. Not ideal for operators who prefer in-person team culture.
Traditional Brokerage
Century 21
Investment Range
$25,000–$525,000
Years Franchising
Founded 1971
Century 21 is one of the oldest and most recognized real estate brands in the US — 14,000 US units gives it geographic coverage that newer brands don't have. Wide investment range ($25K–$525K) reflects significant differences in build-out and office size. Century 21 did not disclose Item 19 financial performance data in its most recent FDD filing, making direct revenue comparisons with KW and RE/MAX difficult.
✓ 14,000 US units = maximum consumer brand recognition. Lower franchise fee ($25,000) than KW or RE/MAX.
⚠ No Item 19 disclosure. 6% royalty with no cap means high-producing offices pay more in royalties as volume grows.
Traditional Brokerage
Realty ONE Group
Investment Range
$22,000–$243,000
Realty ONE Group has grown aggressively to 20,000 agents with a 100% commission model — agents keep 100% of commissions and pay a flat transaction fee instead. This model is similar to eXp but with physical offices. The $12,500 franchise fee is the lowest among traditional brokerage options. 78/100 satisfaction score is the highest among traditional brokerages in this comparison, suggesting strong franchisee relationships.
✓ 78/100 satisfaction score — tied for highest in category. 100% commission model is a strong agent recruitment pitch. Low franchise fee ($12,500).
Which Real Estate Franchise Is Right for You?
The answer depends on your operator profile:
- Highest revenue potential: Keller Williams — $2M AUV, profit-sharing model, but requires cultural investment and team-building skills
- Most proven/least risk: RE/MAX — 48 years, 9,000 units, desk fee model provides stable predictable income
- Lowest entry cost: eXp Realty ($3K) or Realty ONE Group ($22K) for traditional
- Best for investors (not brokers): HomeVestors — no royalty, proven "We Buy Ugly Houses" brand, transaction-based income
- Best brand recognition: Century 21 or RE/MAX — 50+ year legacy brands with consumer awareness in every market
Data as of April 2026. All investment ranges, royalty rates, unit counts, and satisfaction scores sourced from FranchiseStack database (188 verified franchise records). Financial performance figures (Item 19) reflect data disclosed in each franchisor's FDD filing — franchisors who did not disclose Item 19 are noted. Verify current FDD with each franchisor before making any investment decision.
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Frequently Asked Questions
What is the cheapest real estate franchise to open in 2026? +
eXp Realty has the lowest entry point at $3,000 to $8,000 — because it operates as a cloud-based brokerage with no physical office requirement. Realty ONE Group starts at $22,000. Traditional brick-and-mortar real estate franchises (Keller Williams, Century 21, RE/MAX) start between $25,000 and $38,500 in franchise fees alone, with total build-out costs reaching $180,000–$340,000.
How much does a Keller Williams franchise make? +
Keller Williams Market Centers report average gross revenue of approximately $2,000,000 per location according to FDD Item 19 disclosures. Owner-operators (Market Center Owners) typically receive a share of profits after operating expenses and agent profit share distributions. Keller Williams' profit-sharing model means franchisee income is tied to recruiting and retaining productive agents — the top 20% of Market Centers generate significantly higher margins than average.
Is RE/MAX or Keller Williams a better franchise? +
They serve different owner profiles. RE/MAX ($38,500 entry, 9,000 US units, 48 years franchising) is better for operators who want a proven brand with agent-paid desk fees covering most overhead. Keller Williams ($184,000 entry, 1,200 US units, 37 years franchising) is better for operators willing to invest more in building a profit-sharing culture and recruiting pipeline. RE/MAX averages $1.2M AUV; Keller Williams averages $2M AUV per FDD data.
What royalty rate do real estate franchises charge? +
Real estate franchise royalties vary widely. Century 21 and Coldwell Banker charge 6% of gross commissions. RE/MAX charges no traditional royalty — instead using desk fees and a flat monthly fee per agent. Keller Williams charges 6% of gross commissions capped at $3,000/agent per year. eXp Realty charges a 20% commission split on each transaction until agents cap at $16,000 annually. HomeVestors charges $0 royalty.
How many agents do I need to make a real estate franchise profitable? +
Break-even thresholds vary by model. A RE/MAX office typically needs 15–25 active agents to cover overhead. Keller Williams Market Centers typically need 30–60 agents to achieve positive cash flow after profit share distributions. The key variable is per-agent productivity — an office with 20 agents averaging $4M in sales volume each performs very differently than 20 agents averaging $1M.