United Real Estate Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
United Real Estate is a residential brokerage franchise using a flat-fee, low-cost model to attract agents. Franchisees run offices recruiting and supporting agents, earning from agent fees and per-transaction charges rather than commission splits.
FranchiseVerdict summary · 2026
A United Real Estate franchise requires a total initial investment of $145K – $386K, including a $35K franchise fee. The 2024 FDD does not disclose unit-level revenue (no Item 19). FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2024 FDD issuance
Overview
- Investment
- $145K – $386K
- 76th pct Real Estate
- Avg gross sales
- N/A
- Royalty
- N/A
- Units
- 94
- 49th pct Real Estate
- SBA charge-off
- N/A
Quick verdict · Real Estate · color = vs category peers
Green = favorable by >10% vs Real Estate avg · 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 $145K – $386K including a $35K franchise fee.
- RETURNSNo Item 19 financial performance data disclosed. The franchisor chose not to publish revenue figures.
- RISKVerdict B (Above average), verdict score 48/100 (higher is better).
- DATANo Item 19 financial performance representation. Without franchisor-disclosed revenue data, you'll need to gather unit economics directly from existing franchisees.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Five D I, LLC
- Parent company
- United Real Estate Subsidiary Holdco, LLC
- Incorporated in
- DE
- HQ
- 2820 N.W. Barry Road, Kansas City, Missouri 64154
- Auditor
- Mayer Hoffman McCann P.C.
- Audited financials
- Franchisor revenue
- $509.8M
- vs $490.1M prior year
Overview
About
- CEO
- M. Daniel Duffy
- Headquarters
- MO
- Founded
- 2008
- FDD year
- 2024
- States available
- 27
Can you afford it, and what does the money buy?
Entry cost runs 24% above the typical real estate franchise.
Source: FDD 2024 · Items 5–7
FDD Item 7 · 2024 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $35K | $35K |
| Working capital (3–6 mo) | $100K | $150K |
| Equipment, build-out, other | $10K | $201K |
| Total initial investment | $145K | $386K |
Source: United Real Estate 2024 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
- $145K – $386K
- Bottom third — review vs category
- Liquid capital req'd
- $100K – $150K
- Bottom third — review vs category
- Franchise fee
- $35K – $35K
- Middle of category vs category
- Royalty
- Monthly Agent Affiliation Fee: $45 per Agent; Monthly Rea…
- Ad fund
- 0.0%
- typical 3–5%
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Marketing / ad fund | 0.0% of gross sales |
| Transfer fee | $5K |
| Renewal fee | $5K |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
United Real Estate did not disclose financial performance in FDD Item 19. The ROIC and return models require Item 19 revenue. Without it all inputs are estimates. You can still run the calculator with your own assumptions by entering an expected revenue figure.
Returns model · single-unit ROIC
What would one United Real Estate unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
33%
Within the 30–60% "attractive franchise" band
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: 2024 FDD
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Disclosure
Franchisor chose not to disclose financial performance representations. You will need to gather unit economics directly from existing franchisees.
Multi-unit rate
Only 25% 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 averages
How United Real Estate Compares
Is the system healthy?
Source: FDD 2024 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 94
- Opened
- 1
- Last reporting year
- Closed
- 2
- Turnover rate
- 2.2%
- Company-owned
- 18
- Corporate units in the system
- % franchised
- 80%
- vs corporate-owned
- Multi-unit owners
- 25.0%
3-year detail · Item 20
- Transfers (3yr)
- 0
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 15 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 loan disclosures. This brand has only 2 7(a) loans on file; statistical reliability is limited below 10 loans.
- Total loans
- 2
- Loan volume
- $953K
- Median loan
- $477K
- average
- Charge-off rate
- N/A
- limited sample (2 loans) — rate not shown below 10
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- N/A
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 0
- Defaults
- N/A
Explore lender portfolios on Bank Reports or regional data on State Reports.
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
United Real Estate operates a contracting 90-unit franchise system facing five antitrust class actions, undisclosed financials, and no territorial protection, making it a high-risk investment despite moderate initial capital requirements.
Audited financials (Item 21)
Yes · Mayer Hoffman McCann P.C.
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Score breakdown · what drove the 48 / 100 verdict
- 01MINORSystem contracting: 90 units declining 1.4% YoY indicates stagnant/negative growth trajectory
- 02MINORFive concurrent putative class action lawsuits alleging antitrust violations create existential legal/reputational risk
- 03MEDNo Item 19 financial disclosure (Avg Revenue/Net Income not disclosed) prevents ROI validation and suggests weak unit economics
- 04MINORNo protected territory exposes franchisees to internal competition and cannibalization
- 05MINORMonthly per-agent fees ($45) plus transaction fees ($75 buy/sell, $45 lease) create variable cost structure dependent on agent productivity
- 06HIGH10-year term is long-duration commitment in litigation-exposed system with declining unit count
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Source: FDD 2024 · 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 | Geographic boundaries |
| Protected territory | No |
| Online sales rights | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 1 year |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | Texas |
| Litigation count | 5 |
Items 10, 11
Training & Operations
- Classroom training
- 40 hrs
- On-the-job training
- 0 hrs
- POS system
- Bullseye Productivity Platform
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Bullseye Productivity Platform
Item 20 · call current owners
Franchisee Contacts
58 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
United Real Estate · FDD (2024) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a United Real Estate franchise?
The total investment to open a United Real Estate franchise ranges from $145K – $386K, 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 United Real Estate franchise owners earn?
United Real Estate 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 Item 19 in the United 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 United Real Estate FDD and qualifies whose outlets they describe.
What is United Real Estate's franchise failure rate?
SBA 7(a) loan charge-off data is not available for United 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 United Real Estate franchise locations are there?
As of their most recent FDD filing, United Real Estate has 94 total units in the United States, including 76 franchised units and 18 company-owned units. 1 new units were opened in the latest reporting year.
Is United Real Estate a good franchise to buy?
FranchiseVerdict rates United Real Estate as a B-grade franchise with a verdict score of 48 out of 100 (higher is better), 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.
For franchisors
Are you the franchisor?
If you represent United Real Estate, you can request corrections or provide updated information.
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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.