Harcourts Real Estate Franchise Cost, Revenue & Review 2026
- Investment
- $151K – $360K
- Disclosed sales
- not disclosed
- SBA charge-off
- Not SBA-matched
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Harcourts Real Estate is a residential and commercial brokerage franchise offering brand, technology, and agent support. Franchisees run local brokerages, recruiting agents and managing listings, sales, leasing, and property management.
FranchiseVerdict summary · 2026
A Harcourts Real Estate franchise requires a total initial investment of $151K – $360K, including a $25K franchise fee and an ongoing 6.0% royalty[2]. This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: medium - issued 12 to 24 months ago; a newer filing is likely on file
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✗ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored4 of 5 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $151K – $360K
- 79th pct Real Estate
- Avg gross sales
- N/A
- Royalty
- 6.0%
- 24th pct Real Estate
- Units
- 22
- 20th pct Real Estate
- SBA charge-off
- N/A
Quick verdict · Real Estate · color = vs category peers
Green = favorable by >10% vs Real Estate median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $151K – $360K including a $25K franchise fee, 6.0% ongoing royalty.
- RETURNSThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
- RISKVerdict A (Strongest tier), verdict score 73/100 (higher is better).
- GROWTHNegative: net -2 franchised outlets in the latest year (0 opened, 2 closed) (Item 20).
- GROWTHSystem growing at 22.2% CAGR over 3 years with 22 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Harcourts Pacific LLC
- Parent company
- Brady-Sanchez-HIL Holdings, LLC
- FDD Item 1, page 8 of the 2025 FDD
- Predecessor
- Altera Real Estate Operating, LLC
- Prior franchisor entity
- Incorporated in
- CA
- HQ
- 660 Newport Center Dr, Suite 320, Newport Beach, CA 92660
- Auditor
- Mark W. Deazeley, CPA
- Audited financials
- Franchisor revenue
- $1.9M
- vs $1.8M prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Overview
About
- CEO
- Benjamin Brady
- Headquarters
- CA
- Founded
- 2010
- FDD year
- 2025
- States available
- 3
Can you afford it, and what does the money buy?
Entry cost runs 92% above the typical real estate franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown8 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $25K | $25K | |
| Office Build Out (Tenant Improvements) | $20K | $110K | |
| Furnishings and Equipment | $40K | $80K | |
| Supplies and Inventory | $5K | $15K | |
| Security Deposits, Licenses and other prepaid expenses | $10K | $20K | |
| Training | — | — | |
| Miscellaneous | $1K | $10K | |
| Additional Funds for 3 months | $50K | $100K | |
| Total initial investment | $151K | $360K |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $151K – $360K
- Bottom third — review vs category
- Liquid capital req'd
- $50K – $100K
- Bottom third — review vs category
- Franchise fee
- $25K – $25K
- Top 40% of category vs category
- Royalty
- 6.0%
- Tiered by sales volume · typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Marketing / ad fund | 1.0% of gross sales |
| Technology fee | $3K |
| Transfer fee | $2K |
| Renewal fee | $3K |
| Inventory (initial) | $5K – $15K |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Harcourts Real Estate makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one Harcourts Real Estate unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for annual revenue, COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2025 FDD
Financial Performance
No financial performance representation
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
6.0% royalty + 1.0% ad fund.
Disclosure
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator retention
System expanding at 22.2% CAGR over 3 years across 22 units — operators are staying and new ones are joining.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Real Estate medians
How Harcourts Real Estate Compares
Category median of published Real Estate brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 22
- Opened
- 0
- Last reporting year
- Closed
- 2
- Terminated
- 2
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 9.1%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (3-yr)
- +22.2%
- Net unit change over 3 years
- 3-yr CAGR
- +22.2%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 2
- Not renewed
- 0
- Transferred
- 0
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 0
- 0.00 per open outlet · Item 20 Table 5
- Projected new
- 10
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 3 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.
Where the owners are · Item 20 owner list
17 current owners across 3 states.
- CA 14
- NV 2
- HI 1
Counts only, from the list the franchisor prints in Item 20. Names and phone numbers are for your own due diligence and are not shown here.
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation disclosed in Item 3.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Mark W. Deazeley, CPA
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Item 21 attaches the audited consolidated financial statements of the franchisor Harcourts Pacific, LLC and subsidiary for the year ended December 31, 2024 (Mark W. Deazeley, CPA, February 24, 2025). The opinion is QUALIFIED: an office lease was not capitalized as ASC 842 requires. FY2024 total revenues $1,937,144; net income $295,651; total assets $362,000; total liabilities $112,308; members' equity $249,692.
ⓘ These are the parent company's consolidated financials (the parent guarantees the franchisor), not this brand's standalone results — the figure reflects the whole corporate group, not this brand alone.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: Yes
What are you signing up for?
Ongoing fees run about 7.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 5 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 1 |
| Territory type | Exclusive territory |
| Protected territory | Yes |
| Exclusive territoryℹ | Yes |
| Online sales rights | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Right of first refusalℹ | No |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Arbitration location | California (Orange County or Los Angeles County) - litigation only, no arbitration |
| Jury trial waiver | Yes |
| Governing law | CA |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation disclosed in Item 3.
Items 10, 11
Training & Operations
- Classroom training
- 0 hrs
- On-the-job training
- 9 hrs
- Training location
- Franchisee's office or online
- Ongoing training
- Required
- Field support
- 10 hrs/yr
- On-site visits per year
- Time to open
- 3 mo
- From signing to launch
- Franchisor financing
- Not offered
- Item 10
- POS system
- Harcourts One and Harcourts Cloud
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Harcourts One and Harcourts Cloud
Item 20 · call current owners
Franchisee Contacts
17 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Harcourts Real Estate franchise?
The total investment to open a Harcourts Real Estate franchise ranges from $151K – $360K, 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 Harcourts Real Estate franchise owners earn?
Harcourts Real Estate makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Harcourts Real Estate?
Harcourts Real Estate is franchised by Harcourts Pacific LLC. Its parent company is Brady-Sanchez-HIL Holdings, LLC. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Harcourts Real Estate FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Harcourts Real Estate FDD and qualifies whose outlets they describe.
What is Harcourts Real Estate's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Harcourts Real Estate (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many Harcourts Real Estate franchise locations are there?
As of their most recent FDD filing, Harcourts Real Estate has 22 total units in the United States, including 22 franchised units and 0 company-owned units.
Is Harcourts Real Estate a good franchise to buy?
FranchiseVerdict rates Harcourts Real Estate as a A-grade franchise with a verdict score of 73 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. 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.
For franchisors
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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.