Entrepreneur magazine has just published its 38th annual Franchise 500 list based on size, growth, financial strength, and stability, and five real estate franchises merited a mention.
RE/MAX LLC was named the top real estate franchise, coming in 10th overall. That's up from 21st in 2016's list, and 75th in 2015.
2017's list is actually the fifth consecutive year that RE/MAX has made the grade. “Many of our franchisees gravitated to the RE/MAX model because our focus has always been on the needs of the agent,” said Chris Pflueger, RE/MAX’s vice president of business development, in a statement.
To date, RE/MAX boasts more than 97,000 real estate agents in 95 countries. It added 231 new franchise locations in 2016. "We provide our broker-owners with the leading-edge tools, on-demand education, global brand recognition and more than 40 years of industry-leading experience to attract and recruit the top performing real estate agents in their markets,” Pflueger said.
The other real estate franchises in Entrepreneur's list include HomeVestors of America in 52nd place, Keller Williams Realty in 77th, Weichert Real Estate Affiliates Inc. at 105, and Realty One Group at 168.
Bill Scavone, president and chief operating officer of Weichert Real Estate Affiliates, said the brand rose 131 spots in rankings over the last two years, calling it “a testament to the hard work and dedication put forth daily by our national network of real estate professionals that believe tremendously in the Weichert brand and operating systems.”
Entrepreneur magazine ranks each franchise on its list using an algorithm that takes into account over 150 data points. The magazine has updated its formula over the years to add relevant new factors like social media presence. Exactly 998 franchises submitted their information for inclusion this year.