The franchise model is not just a pathway to connections, it can be a foundation to long-term growth and competitive advantage. The appeal of joining a larger organization is typically rooted in a number of factors that range from building a pipeline of business within a network and collaborating with commercial real estate experts across the country to tapping into new resources and tools while capturing the benefits found under the banner of a larger brand family.
While all those considerations add up to compelling reasons to be a part of a franchise affiliation such as Coldwell Banker Commercial, perhaps the strongest motivation is the opportunity to firmly establish a resilient and sustainable business. Affiliates are able to fortify their standing as a respected brokerage firm in their chosen market, while remaining an independent voice for local property owners and the companies seeking space.
The chance to stand out against the local competition can be achieved by being a part of a national organization that brings a strong and respected brand presence and suite of tools or resources that a national affiliation delivers. But there’s also operational aspects to consider that could save time and money when an affiliate taps into the systems and processes of a bigger organization. These include resources to conduct deep market research, as well as new tools, technology, sales, education or marketing expertise.
In the case of Coldwell Banker Commercial, affiliates gain access to a network of more than 3,000 commercial professionals. That far-reaching footprint and collective expertise can be leveraged by an affiliate to increase market share and efficiently grow their business either organically or via referrals.
Tremendous value is also realized just by saying your company is aligned with one of the oldest and most respected names in real estate, too. Many decisions are made to go with a company that has a trusted brand with a long history because it addresses concerns that a company is inexperienced or is too small to handle a deal. By being part of a well-run national organization, clients can feel safe about going with a local operator who can now bring a much larger suite of tools to the table – along with their local market knowledge.
That large presence and legacy of operations is part of what is driving the growth of the Coldwell Banker Commercial franchise network today. Another aspect is the leading-edge initiatives being introduced by the company. One such innovation that was deployed last year was the Inclusive Ownership program, an initiative to increase representation of minority, women, LGBTQ+ and veteran entrepreneurs in the real estate industry.
The first three brokerages that elected to join the Coldwell Banker Commercial brand as part of this new program were Coldwell Banker Commercial Global 1 in Atlanta, Ga., and Coldwell Banker Commercial Northland in Flagstaff, Ariz. The firms have been part of Coldwell Banker Commercial for several months now, thus their insights are particularly revealing about the value of the affiliation they’ve already realized.
They indicate the appeal of joining started with the fact that each new brokerage that affiliated with Coldwell Banker as part of this program do not pay the initial franchise fee and receive financial incentives to support diverse business owners in the critical first two years of business. Benefits include up to $100,000 of funding, royalty fee rebates as well as education, mentorship and membership in key industry organizations.
The decision by Becky McBride to add Coldwell Banker Commercial as an affiliate in Arizona was simply a matter of recognizing that breaking into a new segment of the industry, the commercial real estate sector, would require a new approach. The broker-owner of Coldwell Banker Commercial Northland says, “As our company has expanded throughout Northern Arizona, I knew it was time to expand into the commercial real estate sector, utilizing the resources of the Coldwell Banker Commercial brand. The technology, marketing support and education from the Coldwell Banker Commercial brand is amazing and will have an enormous impact on our successes. I’m excited to pursue this great opportunity and launch this new endeavor as a woman-owned commercial real estate brokerage.”
The experiences of these new brokerage affiliates from the front lines highlight the value they are realizing since joining Coldwell Banker Commercial. It also underscores the results that an affiliate can achieve as part of a larger organization, which ultimately helps explain the growth in popularity of franchise networks like Coldwell Banker Commercial in the U.S.
Source: cbcworldwide