1st Class Real Estate

Overview:

1st Class Real Estate is a fast-growing franchise within the real estate sector, founded in 2013 by Rhyan Finch in Virginia Beach, Virginia. The company focuses on providing comprehensive support to real estate agents through education, technology, and a robust community culture. With over 100 locations across the U.S., 1st Class Real Estate offers various franchise models designed to support new and experienced agents in building successful real estate businesses.

History:

Rhyan Finch started in real estate during the 2008 market downturn, where he specialized in distressed properties, foreclosures, and short sales. By 2012, his real estate team was ranked number seven in the U.S. by the Wall Street Journal and the top-performing team in Hampton Roads, Virginia. Finch founded 1st Class Real Estate in 2013, leveraging his successful strategies to build a franchise model that empowers real estate agents.

Investment Breakdown:

1st Class Real Estate offers four franchise models with varying initial investment requirements:
1. Virtual Model - Start-Up: $31,050 to $43,450
2. Virtual Model - Conversion: $27,950 to $43,450
3. Standard Model - Start-Up: $51,950 to $159,450
4. Standard Model - Conversion: $30,950 to $159,450

The initial franchise fee is $25,000, with additional costs for equipment, marketing, and professional fees. The range of costs allows franchisees flexibility depending on their market and business structure.

Industry Snapshot:

The real estate industry is highly competitive, and franchises such as 1st Class Real Estate are well-positioned due to their technology integration and focus on agent empowerment. The franchise model offers flexibility for new agents or those transitioning from traditional real estate firms. The total real estate market in the U.S. remains strong, driven by demand for homes and commercial properties.