Century 21®Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A CENTURY 21® franchise requires a total initial investment of $36K – $473K, including a $25K franchise fee and an ongoing 6.0% royalty[2]. The 2026 FDD does not disclose unit-level revenue (no Item 19). SBA 7(a) loans show a 11.8% charge-off rate across 207 loans[1]. Verdict grade: A. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2026 FDD issuance
Overview
- Investment
- $36K – $473K
- 18th pct Real Estate
- Avg gross sales
- N/A
- 25th pct Real Estate
- Royalty
- 6.0%
- 21st pct Real Estate
- Units
- 1,685
- 73rd pct Real Estate
- SBA default
- 11.8%
- system-wide median varies by category
Quick verdict · Real Estate · color = vs category peers
Green = >15% above Real Estate avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Franchising since 1972. Systems this mature have refined operations and brand recognition.
18 legal cases disclosed in the FDD. Read Item 3 before signing.
Large franchise systems benefit from brand recognition, supply chain leverage, and proven operations.
Bottom line
- Total investment $36K – $473K including a $25K franchise fee, 6.0% ongoing royalty.
- No Item 19 financial performance data disclosed. The franchisor chose not to publish revenue figures.
- Verdict A (Top Quintile) with a risk score of 44/100. SBA loan charge-off rate of 11.8% across 207 loans (above the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2024).
- 18 litigation matters disclosed in Item 3, higher than typical. Review the summary for patterns (franchisor-initiated vs. franchisee-initiated).
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- Century 21 Real Estate LLC
- Parent company
- Anywhere Real Estate Inc.
- Ultimate parent
- Compass, Inc.
- CEO title
- President and Chief Executive Officer
- Michael Miedler
- Incorporated in
- DE
- HQ
- 175 Park Avenue, Madison, New Jersey 07940
- Auditor
- PricewaterhouseCoopers LLP
- Audited financials
- Franchisor revenue
- $5.7B
- vs $6.0B prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Overview
About
Century 21 franchisees operate as independent real estate brokers, managing agents who buy/sell residential and commercial properties within their local market. Franchisees handle agent recruitment, training, commission splits, compliance, and local marketing while paying 6% of gross revenue to the franchisor for brand use and support services. Daily operations include managing client transactions, MLS participation, and agent supervision.
- CEO
- Michael Miedler
- Headquarters
- NJ
- FDD year
- 2026
- States available
- 51
FDD Item 7 · 2026 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $25K | $25K |
| Working capital (3–6 mo) | $15K | $60K |
| Equipment, build-out, other | $0 | $388K |
| Total initial investment | $36K | $473K |
Source: CENTURY 21® 2026 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $36K – $473K
- Better than avg vs category
- Liquid capital req'd
- $15K – $60K
- Near category avg vs category
- Franchise fee
- $25K
- Better than avg vs category
- Royalty
- 6.0%
- percentage_of_gross · typical 6–8%
- Ad fund
- 0.5%
- typical 3–5%
- Total fee load
- 6.5%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Marketing / ad fund | 0.5% of gross sales |
| Technology fee | $0 |
| Transfer fee | $5K |
| Total fee load | 6.5% of rev |
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
vs Real Estate averages
How Century 21® Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 1,685
- Opened
- 68
- Last reporting year
- Closed
- 117
- Terminated
- 11
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 11
- Term expired, not renewed (per Item 20)
- Turnover rate
- 6.9%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Multi-unit owners
- 15.4%
- Net growth (yr3)
- -2.8%
- Net unit change last year
- 3-yr CAGR
- -6.8%
- Compounded over last 3 years
3-year detail · Item 20
- Transfers (3yr)
- 59
- Transfer rate
- 3.5%
- Owners selling to other franchisees
- Continuity rate
- 93.5%
- Units that stayed open
- Termination rate
- 1.3%
- Franchisor-initiated terminations
- Ceased ops
- 5.6%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 19 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 207
- Loan volume
- $73.7M
- Median loan
- $150K
- 50th percentile
- Charge-off rate
- 11.8%
- rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 91.0%
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 82
- Defaults
- 18
Vintage analysis
Century 21® charge-off rate by loan vintage
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into Century 21®'s SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 10 lenders with concentration factor
- Per-state charge-off rates across 15 states
- Startup risk premium and job creation velocity
- 28-year lending trend
- SBA 504 real estate/equipment data
Instant access. No subscription.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
CENTURY 21 faces systemic risks from industry antitrust litigation, a contracting franchise network, undisclosed financials, and unprotected territories—making this a HIGH RISK investment in a real estate brokerage model under regulatory threat.
Litigation (Item 3)
Century 21 Real Estate LLC has 3 disclosed cases: (1) Pending federal case against franchisee Quality Homes Network LLC and owner Jamie Skeen regarding royalty rate reformation and confidentiality breach (bench trial scheduled May 4, 2026); (2) Pending putative class action filed January 29, 2026 alleging unsolicited prerecorded calls and texts to Do Not Call Registry numbers by affiliated agents; (3) Resolved case - Wallis Wood v. Agora, Inc. et al. settled July 2016 for $10,000 with release of claims. Text appears truncated regarding resolved MW Enterprises case (Case No. MRS-L-1176-15).
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · PricewaterhouseCoopers LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 44 / 100 rating
- 01MINORShrinking franchise system: 1,685 units declining 2.8% YoY indicates market contraction and franchisee exits
- 02MEDNo financial transparency: Average revenue and net income not disclosed makes ROI assessment impossible
- 03HIGHExistential litigation risk: Antitrust case against NAR and parent company (Anywhere Real Estate) threatens core commission model and industry structure
- 04MINORUnprotected territory: No territorial protection means franchisees compete directly with other CENTURY 21 agents in same area
- 05HIGHHigh litigation exposure: Multiple TCPA class actions, franchisee royalty disputes, and ongoing antitrust proceedings create legal and financial uncertainty
- 06HIGHGoing concern status: False designation suggests potential financial instability at franchisor level
- 07MINORNo Item 19 financials: Inability to validate realistic earnings claims or benchmark against competitors
- 08MINOR10-year term lock-in: Long commitment during industry transition and antitrust uncertainty limits exit flexibility
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Allowed renewalsℹ | 0 |
| Protected territory | No |
| Exclusive territoryℹ | No |
| Online sales rightsℹ | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Right of first refusalℹ | Yes |
| RoFR response window | 120 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | New Jersey |
| Litigation count | 18 |
View Item 3 litigation summary
Century 21 Real Estate LLC has 3 disclosed cases: (1) Pending federal case against franchisee Quality Homes Network LLC and owner Jamie Skeen regarding royalty rate reformation and confidentiality breach (bench trial scheduled May 4, 2026); (2) Pending putative class action filed January 29, 2026 alleging unsolicited prerecorded calls and texts to Do Not Call Registry numbers by affiliated agents; (3) Resolved case - Wallis Wood v. Agora, Inc. et al. settled July 2016 for $10,000 with release of claims. Text appears truncated regarding resolved MW Enterprises case (Case No. MRS-L-1176-15).
Items 10, 11
Training & Operations
- Classroom training
- 20 hrs
- On-the-job training
- 0 hrs
- Training location
- Virtually via Zoom or at a designated location TBD
- Ongoing training
- Required
- Field support
- 0 hrs/yr
- On-site visits per year
- Time to open
- 3 mo
- From signing to launch
- POS system
- Internet Reporting System
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Internet Reporting System
Item 20 · call current owners
Franchisee Contacts
100 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
CENTURY 21® · FDD (2026) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a CENTURY 21® franchise?
The total investment to open a CENTURY 21® franchise ranges from $36K – $473K, with an initial franchise fee of $25K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do CENTURY 21® franchise owners earn?
CENTURY 21® does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is CENTURY 21®'s franchise failure rate?
Based on SBA 7(a) loan data, CENTURY 21® has a charge-off rate of 11.8% across 207 loans, meaning 11.8% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
How many CENTURY 21® franchise locations are there?
As of their most recent FDD filing, CENTURY 21® has 1,685 total units in the United States, including 1,685 franchised units and 0 company-owned units. 68 new units were opened in the latest reporting year.
Is CENTURY 21® a good franchise to buy?
FranchiseVerdict rates CENTURY 21® as a A-grade franchise with a risk score of 44 out of 100, based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.