Weichert Real Estate vs 1st Class Real Estate Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Weichert Real Estate vs 1st Class Real Estate including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees

 
Weichert Real Estate Franchise
1st Class Real Estate Franchise
Investment $62,500 - $324,700$14,420 - $209,475
Franchise Fee $25,000$5,000 - $25,000
Royalty Fee 6%-
Advertising Fee 2%-
Year Founded 19692012
Year Franchised 20002018
Term Of Agreement 7 years-
Term Of Agreement 7 years-
Renewal Fee $1K-


Business Experience Requirements

 
Weichert Real Estate Franchise
1st Class Real Estate Franchise
Experience --

Financing Options

 
Weichert Real Estate Franchise
1st Class Real Estate Franchise
  In-House/3rd PartyIn-House/3rd Party
Franchise Fees No/NoYes/-
Start-up Costs No/NoYes/-
Equipment No/No-/Yes
Inventory No/No-/Yes
Receivables No/No-/Yes
Payroll No/No-/Yes

Training & Support

 
Weichert Real Estate Franchise
1st Class Real Estate Franchise
Training Classroom Training: 28.25 hours Additional Training: Annual conference; quarterly workshops (local) Classroom Training: 16 hours Additional Training: Virtual training
Support Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Field Operations Proprietary Software Franchisee Intranet Platform Ongoing Support Newsletter Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
Marketing Co-op Advertising National Media Regional Advertising Social media Email marketing Co-op Advertising Ad Templates Social media SEO Website development Email marketing Loyalty program/app
Operations 10% of all franchisees own more than one unit

Number of employees needed to run franchised unit: 5

Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators)

Number of Employees Required to Run: 3

Expansion Plans

 
Weichert Real Estate Franchise
1st Class Real Estate Franchise
US Expansion Yes-
Canada Expansion No-
International Expansion No-

Company Overviews

About Weichert Real Estate

Weichert, Realtors opened in 1969 with a single office. Jim Weichert opened his first real estate office in Chatham, New Jersey,  He began franchising in 2000, and today the company is based in Morris Plains, New.Jersey. Franchisees help customers buy and sell both residential and commercial real estate, and streamline the delivery of mortgages and home and title insurance.

"Entrepreneur

#285 in Franchise 500 for 2020.
#337 in Franchise 500 for 2021.


About 1st Class Real Estate

"1st

1st Class Real Estate is a full-service real estate company that desires to help YOU grow your business! Like everyone else we offer competitive splits & support; however, it is our culture that sets us apart from the rest! We’ve made it possible for you to grow your business with a team of individuals without breaking the bank!

The total investment necessary to begin operation of a 1st Class Real Estate Full-Service Model is $55,870- $209,475.
This includes $25,950 that must be paid to the franchisor or affiliate.
The total investment necessary to begin operation of a 1st Class Real Estate Incubation Model is $14,420-$71,795.
This includes $5,950 that must be paid to the franchisor or affiliate.

Seeking new franchise units in the following regions/states: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Kansas, Kentucky, Louisiana, Massachusetts, Maine, Minnesota, Missouri, Mississippi, Montana, Nebraska, North Carolina, New Hampshire, New Jersey, New Mexico, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Vermont, Wisconsin, West Virginia and Wyoming