United Real Estate Franchise Cost, Revenue & Review 2026
- Investment
- $145K – $386K
- Disclosed sales
- not disclosed
- SBA charge-off
- Under 10 loans (2)
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. 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: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · 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 scored3 of 4 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $145K – $386K
- 77th pct Real Estate
- Avg gross sales
- N/A
- Royalty
- Not extracted
- 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 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 $145K – $386K including a $35K franchise fee.
- 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 B (Above average), verdict score 60/100 (higher is better).
- GROWTHPositive: net +4 franchised outlets in the latest year (5 opened, 1 closed) (Item 20).
- DATAThis 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.
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
- FDD Item 1, page 6 of the 2025 FDD
- 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
- 2025
- States available
- 27
Can you afford it, and what does the money buy?
Entry cost runs 99% above the typical real estate franchise.
Source: FDD 2025 · Items 5–7
FDD Item 7 · 2025 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 2025 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% |
| Transfer fee | $5K |
| Renewal fee | $5K |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
United 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 United 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, royalty rate, 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.
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.
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 medians
How United 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
- 94
- Opened
- 5
- Last reporting year
- Closed
- 1
- Non-renewed
- 1
- Term expired, not renewed (per Item 20)
- Turnover rate
- 1.1%
- Company-owned
- 18
- Corporate units in the system
- % franchised
- 80%
- vs corporate-owned
- Multi-unit owners
- 25.0%
Last fiscal year · Item 20 exits and transfers
- Not renewed
- 1
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.
Where the owners are · Item 20 owner list
57 current owners across 15 states.
- MS 17
- VA 10
- TX 7
- FL 5
- CA 4
- AZ 3
- KY 3
- AR 1
- IA 1
- IL 1
- IN 1
- LA 1
- +3 more states
Counts only, from the list the franchisor prints in Item 20; 1 entries carry no state. 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 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
- Under 10 loans (2)
- Insufficient SBA coverage: 2 loans, rate hidden below 10
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Under 10 loans (2)
- 5-yr charge-off
- Under 10 loans (2)
- 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 60 / 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 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 | No territory protection |
| 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
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 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 United Real Estate?
United Real Estate is franchised by Five D I, LLC. Its parent company is United Real Estate Subsidiary Holdco, LLC. Source: FDD Item 1, 2025 filing.
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. 5 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 60 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.