@properties Franchise Cost, Revenue & Review 2026
- Investment
- $64K – $433K
- Disclosed sales
- not disclosed
- SBA charge-off
- Not SBA-matched
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
@properties is a residential real estate brokerage franchise built on strong technology, marketing, and agent support. Franchisees run local brokerages, recruiting agents and managing listings, sales, and transactions.
FranchiseVerdict summary · 2026
A @properties franchise requires a total initial investment of $64K – $433K, including a $35K franchise fee and an ongoing 3.0% 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: C (Average), 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 scored5 of 5 headline figures on this page cite a page of the filing.
Overview
- Investment
- $64K – $433K
- 46th pct Real Estate
- Avg gross sales
- N/A
- Royalty
- 3.0%
- 4th pct Real Estate
- Units
- 44
- 31st 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 $64K – $433K including a $35K franchise fee, 3.0% 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 C (Average), verdict score 44/100 (higher is better).
- GROWTHNegative: net -1 franchised outlets in the latest year (0 opened, 1 closed) (Item 20).
- LEGAL10 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
Corporate structure & franchisor financials
- Legal entity
- At World Franchising, LLC d/b/a @properties
- Parent company
- At World Properties, LLC
- FDD Item 1, page 8 of the 2025 FDD
- Ultimate parent
- At World Properties Holdings, LLC (Compass, Inc. acquired control Jan 2025)
- FDD Item 1, page 8 of the 2025 FDD
- CEO title
- Co-CEO
- Michael Golden / Thaddeus Wong
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- Delaware
- HQ
- 806 N. Peoria St., Chicago, IL 60642
- Auditor
- PricewaterhouseCoopers LLP
- Audited financials
- Franchisor revenue
- $1.6M
- vs $2.3M prior year
Same owner · FDD Item 1, page 8
1 other brand on this site name At World Properties Holdings, LLC (Compass, Inc. acquired control Jan 2025) as parent or ultimate parent in their own FDD.
Grouped by the owner's name as each filing prints it (this page: the 2025 FDD). Spelling variants of the same group may be listed apart; a brand is never grouped with an owner its filing does not name.
Overview
About
- CEO
- Michael Golden / Thaddeus Wong
- Headquarters
- IL
- Founded
- 2020
- FDD year
- 2025
- States available
- 5
Can you afford it, and what does the money buy?
Entry cost runs 87% above the typical real estate franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown15 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $35K | $35K | |
| Initial Training Expenses | $1K | $10K | |
| Leasehold Improvements | $0 | $150K | |
| Rent and Security Deposit | $3K | $10K | |
| "For Sale" Signage | $1K | $25K | |
| Office Signage | $250 | $5K | |
| Equipment and Furniture | $8K | $50K | |
| Computers and Software | $3K | $10K | |
| Start-up Supplies and Inventory | $5K | $10K | |
| Insurance | $2K | $25K | |
| Professional Fees | $2K | $5K | |
| Utilities | $350 | $3K | |
| Licensing Costs | $500 | $3K | |
| Data Feed Transmission | $250 | $3K | |
| Additional Funds - 3 Months | $5K | $90K | |
| Total initial investment | $64K | $433K |
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
- $64K – $433K
- Middle of category vs category
- Liquid capital req'd
- $5K – $90K
- Top 40% of category vs category
- Franchise fee
- $35K – $35K
- Middle of category vs category
- Royalty
- 3.0%
- Tiered by sales volume · typical 6–8%
- Ad fund
- 3.0%
- typical 3–5%
- Total fee load
- 6.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 3.0% of gross sales |
| Marketing / ad fund | 3.0% of gross sales |
| Technology fee | $500 |
| Training fee | $500 |
| Transfer fee | $5K |
| Renewal fee | $1K |
| Total fee load | 6.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
@properties 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 @properties 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
Total ongoing fee load of 6.0% — below the Real Estate median of 7.5%.
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 contracting at -40.0% CAGR over 3 years. Investigate whether closures are franchisor-driven consolidation or franchisee exits.
Multi-unit rate
Only 1% of franchisees own multiple units. Could indicate challenging economics or a young system where operators haven't had time to expand.
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 @properties 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
- 44
- Opened
- 0
- Last reporting year
- Closed
- 1
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 2.3%
- Company-owned
- 41
- Corporate units in the system
- % franchised
- 7%
- vs corporate-owned
- Multi-unit owners
- 1.0%
- Net growth (3-yr)
- -40.0%
- Net unit change over 3 years
- 3-yr CAGR
- -40.0%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 1
- 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
- 0
- Franchisor's next-year forecast
- Termination rate
- 2.3%
- Franchisor-initiated terminations
- Ceased ops
- 6.8%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 4 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
4 current owners across 4 states.
- IL 1
- IN 1
- MD 1
- WI 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.
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: the franchisor is a named party (defendant).
Six antitrust putative class action lawsuits filed in late 2023 and early 2024 against Parent, the Company, and Christie's International Real Estate Group related to real estate listing policies alleged to be anticompetitive. Cases pending in federal courts in Georgia, South Carolina, New York (2), Illinois, and Missouri. One case (Umpa) reached final settlement approval in November 2024. Additional non-class action pending: Stuart v. HK Lane Palm Desert involving breach of fiduciary duty and professional negligence claims.
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: Yes
- 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 verdict
- 01MED10 pending actions incl. 6 NAR antitrust commission class actions
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 6.0% 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 | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory sizeℹ | Counties, zip codes, or other geographical designations |
| Online sales rightsℹ | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 1 year |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 17 |
| Curable defaultsℹ | 17 |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | Illinois |
| Litigation count | 10 |
View Item 3 litigation summary
Six antitrust putative class action lawsuits filed in late 2023 and early 2024 against Parent, the Company, and Christie's International Real Estate Group related to real estate listing policies alleged to be anticompetitive. Cases pending in federal courts in Georgia, South Carolina, New York (2), Illinois, and Missouri. One case (Umpa) reached final settlement approval in November 2024. Additional non-class action pending: Stuart v. HK Lane Palm Desert involving breach of fiduciary duty and professional negligence claims.
Items 10, 11
Training & Operations
- Classroom training
- 13 hrs
- On-the-job training
- 0 hrs
- Training location
- On-site and corporate
- Ongoing training
- Required
- Time to open
- 3 mo
- From signing to launch
- Site selection
- franchisee, subject to franchisor consent
- Franchisor financing
- Not offered
- Item 10
- POS system
- @properties System
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: @properties System
Item 20 · call current owners
Franchisee Contacts
4 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 @properties franchise?
The total investment to open a @properties franchise ranges from $64K – $433K, with an initial franchise fee of $35K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do @properties franchise owners earn?
@properties 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 @properties?
@properties is franchised by At World Franchising, LLC d/b/a @properties. Its parent company is At World Properties, LLC. The ultimate parent named in the FDD is At World Properties Holdings, LLC (Compass, Inc. acquired control Jan 2025). Source: FDD Item 1, 2025 filing.
What is Item 19 in the @properties 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 @properties FDD and qualifies whose outlets they describe.
What is @properties's franchise failure rate?
SBA 7(a) loan charge-off data is not available for @properties (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 @properties franchise locations are there?
As of their most recent FDD filing, @properties has 44 total units in the United States, including 3 franchised units and 41 company-owned units.
Is @properties a good franchise to buy?
FranchiseVerdict rates @properties as a C-grade franchise with a verdict score of 44 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.