Franchise Spotlight: Lettings
Growing demand for lettings agents is underpinned by relentless population growth.
Typically also arranging property sales, lettings franchises benefit from the fact that the sales and lettings markets seldom suffer simultaneous downturns.
Indeed, having a home is a fundamental human need, which suggests the future of the lettings industry is as bright as its past. After all, Australia’s population, as well as the number of businesses and residential and commercial buildings, is set to continue growing for some time to come.
The key industry trend benefitting the lettings market is the growing proportion of people renting their homes, statistics suggest.
And market research outfit IBISWorld expects industry revenue will fall by only 3.9% across 2020-21 due to pandemic-related border closures and rising unemployment – after which the market should rebound strongly.
The operators that flourish in an increasingly competitive sector tend to be forward-thinking technology-wise, from using the best back-office software to launching innovative new digital services.
Franchise market analysis
Real estate experience is only sometimes a prerequisite for buying a lettings franchise. Occasionally independent agencies rebrand under the franchise umbrella to benefit from its resources, marketing reach and lead-generating infrastructure.
Century 21 claims to be the Asia Pacific’s largest real estate company. Franchisees benefit from TV, radio, internet and print advertising, plus CRM (Contact Relationship Management), property listings management, business analytics and email/SMS campaign management software.
Founded in 1883, Raine & Horne now has 300 offices across Australasia and recognizes franchisees’ achievements through awards ceremonies and a generous incentive scheme. It also boasts a CRM integrated with real estate data source RP Data, social and search marketing AI tool and in-house SEO consultants.
Offering something a little different, IWG is the world’s largest provider of flexible workspace, capitalizing on a 24% annual industry growth rate in the co-working industry. IWG – formerly Regus – has more than 3,400 locations across 120 countries and an 8,000-strong, lead-generating global salesforce.