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Updated RecentlyEngel & Voelkers vs Prospect Equities Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Engel & Voelkers vs Prospect Equities including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $176,000 - $320,500 | $50,000 - And Up |
| Franchise Fee | $25,000 | $15,000 |
| Royalty Fee | 6% | - |
| Advertising Fee | 1.5% | - |
| Year Founded | 1977 | 2000 |
| Year Franchised | 1998 | 2010 |
| Term Of Agreement | - | - |
| Term Of Agreement | - | - |
| Renewal Fee | - | - |
Business Experience Requirements |
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| Experience | - | - |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | -/- | -/- |
| Start-up Costs | -/- | -/- |
| Equipment | -/- | -/- |
| Inventory | -/- | -/- |
| Receivables | -/- | -/- |
| Payroll | -/- | -/- |
Training & Support |
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| Training | Knowledge as a competitive factor The increasingly dynamic development of the markets calls for specialisation and sound expertise. Engel & Voelkers recognised the signs of the times early on and established its own academy in 1996 to provide a sound professional education to all company employees. During a six-day basic training course our new employees get to know the innovative Engel & Voelkers marketing system in a three-step programme. Among other things, the course subjects comprise questions of corporate identity and software seminars for the specially developed program "Global Office" as well as practice-oriented sales seminars. The training takes place regularly in the seminar room of the DJZ (German-Japanese Centre) at the Stadthausbroecke in Hamburg. Local seminars in the respective countries can be organized with a minimum of 6 participants. | The Prospect Equities� School of Real Estate offers a robust and complete set of curriculum designed to address today's pressing real estate issues. A variety of management and agent classes are available in classroom, online and self-paced platforms. With a highly trained team of agents in the field, and a smoothly running support staff in the office, plus training on an effective Platinum Club approach, your firm will win listings, justify the charge for your valuable services, and increase repeat and referral business. A small sample of classes include: -Listing Leaders -Buyer Power -Leasing Agency -Contract Negotiation -Agency & Contracts -The Customer's Strategy -Personalities -Red Flags in Real Estate -Title & Due Diligence -The Power of Finance -Insurable Interests -Business Planning -Marketing Yourself & Your Career -Social Media in Real Estate -FSBO's & Expired's -REO & Foreclosures -HUD and VA Overview -Short Sales -Luxury Living & Second Home Market -Commercial Real Estate -Investment Strategies -Property Management -Mortgage Lending Overview -Business Brokerage -Closing the Deal |
| Support | - | The CSS Lead Software is proprietary and exclusive to PE agents. Our unique engineered Information Technology software allows agents to locate potential property buyers and sellers by design. Agents can simply plug in the criteria of their "perfect client" and the software will generate the names, numbers, and addresses (pre-scrubbed) of the nearest matches for the ultimate customer-agent potential. Coupled with our Platinum Club Marketing Strategies, our CSS software is revolutionizing the way real estate agents obtain and convert transactions! PE Broker Resource Network - is committed to helping our member firms identity and implement referral strategies that will grow their business. The Network provides assistance in the placement and registration of referrals through a dedicated 800# referral help line along with programs to provide your clients with offers and services including mortgage, title, home warranty, insurance, construction, demolition, environmental services, home improvement retail chains and much more. Recruiting Programs/Benefits for PE Franchises Recruiting exceptional candidates for your firm, and building a benefits package to help retain them, can be a time consuming job. That's why we've pre-assembled the tools you'll need to execute a compelling, successful recruiting campaign and work to build programs and resources to help you attract and keep the right people. Since our inception, PE has experienced a less than 1% annual turnover rate. No other National Franchise System can say that. We retain the agents we hire. No other real estate franchise system can offer higher compensation along with the maximized support and ancillaries that PE offers. Become privy to the unique recruiting methods we have designed, implemented, and mastered to assist you in growing your office unparallel to the competition. No other real estate franchise system can recruit, train, and retain the level of agents that our proven history has accomplished over the years. |
| Marketing | - | Our web-based personal marketing platform and wide variety of marketing programs, including home seller and buyer systems, personal promotion tools, business-building resources, and much more, will provide you with the means to reach and attract more customers. Advertising Prospect Equities� supports your local advertising efforts with print advertising and a strong Internet presence. In addition, we provide you with the tools that will help you build a strong brand in your local market. HighEnd ProspectTM When it comes to obtaining and marketing upscale listings, we help your firm compete with HighEnd Prospect, our comprehensive luxury marketing program that includes a multi-media advertising component. We will bring national and regional exposure to your listings as well as support your local efforts with customized high-end materials. |
| Operations | - | - |
Expansion Plans |
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| US Expansion | - | Yes |
| Canada Expansion | - | - |
| International Expansion | - | - |
Company Overviews
About Engel & Voelkers
The neighborhood specialist with the worldwide system!
Gotten to be a piece of the element, growing and fruitful worldwide system Engel and Voelkers with more than 200 land shops to its name. Engel and Voelkers is one of the main licensors for operators with practical experience in promoting prestigious properties around the world. A notable brand name, proficient advertising devices inside our own particular universal system, a creative IT idea and our own design and openings.
Gotten to be a piece of the global Engel and Voelkers cooperation and demand more information on our authorizing idea.
The Company, founded in Hamburg in 1977, Engel and Voelkers is universally recognized as the main land organization for purchasing and offering top of the line private properties in premium areas. Our European style shops pass on more than simply our social beginnings. They symbolize the look and feel of our unmistakably rich brand and exhibit our own dedication to perfection in all that we accomplish for our clients and accomplices.
Today, another Engel and Voelkers property shop opens like clockwork some place far and wide! The marvelous development of Engel and Voelkers is because of the advancement of the very acclaimed authorizing (or diversifying) framework. During 2006 business expanded by a unimaginable 59% (Engel and Voelkers created organization income of 122.7 million Euro in 2006 contrasted with 82.5 million Euro in 2005).
About Prospect Equities
Owning a real estate franchise has many advantages... Here are a few: Recognition A nationally recognized and successful real estate brand name gives your real estate business instant recognition and market awareness that leads to more prospective buyer and sellers. Resources A brand name, marketing tools/resources and cooperative marketing ventures increase the ability to promote your real estate business on a broader scale. Recruitment Association with a top real estate franchise improves agent recruitment and retention. Networking Franchises offer more networking opportunities for real estate professionals and the synergy of being part of a team. Training Top franchises offer high levels of training and mentoring through live and online courses, seminars, and sales conferences. Benefits Group medical insurance and retirement programs not available to independent agencies are often available through franchises. Earnings Franchises may lead to increased revenue opportunities through additional services such as title, financing and other home ownership services. Shopping for a Real Estate Franchise - What Should I Look For? All real estate franchises are not alike. Here are some factors to look for as you shop for real estate franchises: Responsiveness Make sure the franchisor is responsiveness to franchise inquiries. Telephone calls are returned promptly. Questions and concerns are encouraged and fully addressed to your satisfaction. Financial Strength Is the real estate parent corporation strong and profitable? Lawsuits What is the litigation history? It is not unusual for major corporations to face litigation in today's world; however, be wary of companies with repeat legal claims and excessive litigation history. Support What kind of assistance is available for real estate franchise financing? Although the franchisor most likely does not offer direct financing, they should referrals to prospective lenders and other financing resources. Marketing Is proactive marketing using multiple channels available at a reasonable cost for franchisees? Territory Does the franchisor offer a protected territory? Training Are training and coaching provided for franchise members and their teams? Benefits Are employment benefits such as group medical insurance, life insurance and retirement plans are available? When you franchise with Prospect Equities, not only do you enhance your firm's local and regional strengths with our marketing prowess, but you tap the strength of a powerful, trusted name brand. Benefits of Franchising with Prospect Equities can include: A clear distinction from the competition with our unique Customer Strategy System and Prospect Equities Platinum Club programs Perfected agent recruitment and retention. Limitless potential to increase your profitability as part of our Prospect Equities Referral and Ancillary Network Systems, tools, training and benefits to help you compete in any marketplace and with proven "recession-proof" strategies A helping hand to work with you, build your profitability, and grow your financial assets A low start-up and flexible franchise pricing model including a protected territory You must qualify to be awarded a Prospect Equities Franchise. Since territories are limited, we will only select the most qualified brokers to be awarded this opportunity. When you're ready to discuss a possible Real Estate Franchise with Prospect Equities, just email us at [email protected], or call us at 800-913-4110 and one of our Franchise Development specialists will be happy to assist you.