It’s no wonder people keep selling with the big companies. The top real estate brands are just so recognizable – Century 21, RE/MAX and Coldwell Banker. Are those names you could ever forget?
Well, a survey found that 95% of respondents recognized the name ‘Century 21’. It was 91% for RE/MAX, whilst 84% recognized Coldwell Banker. So what do these real estate brands have in common?
Not surprisingly the sheer size of these 3 is the major similarity between them. Coldwell Banker has been in business since 1906, with 3200 offices across 44 countries. And although the other 2 are far younger (born in the 1970s), they’ve built their names up rapidly. In fact, Century 21 now has 8000 franchise office brokers.
But the other major similarity between them is that they are franchise businesses. It partly explains their status. Real estate agents across the country are able to set up business, buying into the RE/MAX, Coldwell Banker, or Century 21 name.
You might consider this a downside to using a recognizable real estate brand…
After all, just because they’ve invested in the name, doesn’t mean they’ll do a good job – right? Surely it all comes down to how good the agent is?
There is some sense behind this, and you should be just as selective as you would with smaller companies. But selling with a recognizable real estate brand (even as a franchise) can have huge advantages.
Think about it. These larger companies tend to have larger budgets. RE/MAX, for instance, pride themselves on selling your home through a wide variety of advertising channels. And even if your press advertisement isn’t particularly grand, the large real estate brands buy more ad space. The page for Coldwell Banker, or Century 21 is more likely to draw buyers’ eyes towards your property.
Selling with a big company also means more potential agents
And they’ll be well qualified. These large companies encourage all agents working with their franchise to stay completely up-to-date with training.
Take Coldwell Banker. Their agents have access to virtual university courses – online, and in the classroom. This keeps their knowledge and understanding at the highest level. RE/MAX professionals hold such qualifications as Accredited Buyer Representative, Certified Relocation Professional, Certified Residential Specialist and Leadership Training Graduate.
Finally, ask yourself this question: if someone were to ask you to name a real estate company off the top of your head, which one would it be? Chances are, it’s one of these three here!