United Real Estate franchise
2024 filing · July 12, 2024
United Real Estate at a glance
A real estate brokerage office charging its agents flat fees rather than a share of commissions. At the end of 2023 there were 90 United Real Estate locations in the US, 72 franchised and 18 company-owned.
The business
- Industry
- Real estate
- Franchisor
- Five D I, LLC
- The company that sells the franchises
- Franchisor based in
- Kansas City, Missouri
- Typical size
- 1,500–3,500 sq ft
What you pay
- Cost to open
- $145K–$386K
- Fee, build-out and opening working capital
- Franchise fee
- $35,000
- Paid once, when you sign
- Royalty
- $45 per agent + $75 per deal
- Flat fees instead of a percentage royalty: currently $45 per agent and $75 per closed transaction side each accounting period
- Brand fund
- None now
- No contribution required
- Renewal fee
- $5,000
- When the agreement ends and you sign again
- Agreement length
- 10 years
- Territory
- Limited
- Limited protection
- Franchisor financing
- Introductions to lenders
Where it is
- US locations, 2023
- 90
- Franchised and company-owned
- Franchised
- 72
- Company-owned
- 18
- States
- 28
- Most in Florida, Texas and North Carolina
From Five D I, LLC’s 2024 filing; revenue and net income from its audited financial statements, page 84; SBA status from the SBA Franchise Directory, October 28, 2026.
Franchisor revenue is the company that sells the franchises (royalties, fees and anything else it earns), not what a location makes.
Where it ranks
United Real Estate among all franchises with the same figure.
| Figure | United Real Estate | Among all franchises |
|---|---|---|
| Cost to open, midpointHalfway between the low and high estimate | $265,000 | Costs less than 61% of franchises |
| Franchise feePaid once, when you sign | $35,000 | Lower than 61% of franchises |
| US locationsFranchised and company-owned | 90 | More than 75% of franchises |
How much a United Real Estate franchise costs
Opening one United Real Estate costs an estimated $144,500 to $385,500. That covers the franchise fee and everything else needed to open, through the first months of working capital.
The biggest costs are leasehold improvements ($1,000 to $150,000) and additional funds – 12 months ($100,000 to $150,000). Here is every line of the estimate as filed:
| What it pays for | Range | Low | High |
|---|---|---|---|
| Initial Franchise Fee | $35,000 | ||
| Leasehold Improvements | $1,000 | $150,000 | |
| Furniture, Fixtures, and Equipment | $1,000 | $20,000 | |
| Supplies | $1,000 | $2,500 | |
| Exterior Signage | $500 | $5,000 | |
| Soft Costs | $1,500 | $3,500 | |
| Insurance | $1,000 | $2,000 | |
| Computer System and Software | $1,500 | $3,500 | |
| Training Costs | $1,500 | $3,000 | |
| Security and Utility Deposits | $0 | $10,000 | |
| Business Licenses | $500 | $1,000 | |
| Additional Funds – 12 months | $100,000 | $150,000 | |
| Total | $144,500 | $385,500 | |
Source: Five D I, LLC, 2024 filing, page 18
United Real Estate franchise fee
The franchise fee is $35,000. You pay it when you sign the franchise agreement.
Source: Five D I, LLC, 2024 filing, page 13
Royalty and ongoing fees
| Royalty | Flat fees instead of a percentage royalty: currently $45 per agent and $75 per closed transaction side each accounting period. |
|---|---|
| Brand or marketing fund | No contribution required. |
| Transfer Fee | $5,000 |
| Renewal Fee | $5,000 |
The typical franchise royalty is 6% of sales, plus 2% for marketing. See franchise fees and royalties to compare.
Source: Five D I, LLC, 2024 filing, pages 14 and 16
Other fees as filed, from page 16. The filing lists every fee, including late fees and audit costs.
Sales and earnings
No figures United Real Estate does not share sales or profit figures for its locations. Talking to current and former franchise owners is the usual way to learn what a location earns.
Source: Five D I, LLC, 2024 filing, page 42
SBA loans to United Real Estate franchisees
Lenders approved one SBA 504 loan for a United Real Estate franchisee in 2023, for $390K. It hasn’t been paid off or charged off yet.
A charged-off loan is one written off as uncollectible. See SBA franchise loans for how 7(a) and 504 loans work.
Source: SBA 7(a) and 504 loan data, as of September 30, 2026
How United Real Estate compares
Of the 95 real estate franchises on this site, United Real Estate is the 73rd cheapest to open and the 39th largest by number of locations.
| Figure | United Real Estate | Typical real estate brand | Typical franchise |
|---|---|---|---|
| Cost to open, low end | $145K | $69K | $222K |
| Cost to open, high end | $386K | $244K | $477K |
| Franchise fee | $35K | $35K | $40K |
| US locations | 90 | 67 | 21 |
| Change in franchised locations, 0 yrs | −1.4% | +1.4% | – |
| Shares earnings figures | No | 40 of 95 | 2,147 of 3,352 |
Typical is the median across the 95 brands in real estate franchises; typical franchise, across every brand here.
Locations opened and closed
| Year | Franchised | Company-owned |
|---|---|---|
| 2020 | 73 (−2) | 11 |
| 2021 | 70 (−3) | 14 |
| 2022 | 73 (+3) | 16 |
| 2023 | 72 (−1) | 18 |
Closed or left counts terminations, non-renewals, locations bought back by the franchisor and locations that stopped operating.
See which brands grew most in the fastest-growing franchises rankings.
More in the guides: franchise failure rates.
Over 4 years, from the start of 2020 to the end of 2023, franchised locations went from 75 to 72 (−3, −4%). The earlier years come from the brand's 2023 filing.
Source: Five D I, LLC, 2024 filing, page 42
2020: Five D I, LLC, 2023 filing, page 41
Where United Real Estate locations are
At the end of 2023, United Real Estate had locations in 28 states. The most are in Florida, Texas and North Carolina.
- Florida11
- Texas8
- North Carolina7
- California6
- Virginia6
- South Carolina5
| State | Franchised | Company-owned | Total |
|---|---|---|---|
| Florida | 8 | 3 | 11 |
| Texas | 4 | 4 | 8 |
| North Carolina | 7 | 0 | 7 |
| California | 6 | 0 | 6 |
| Virginia | 5 | 1 | 6 |
| South Carolina | 5 | 0 | 5 |
| Tennessee | 4 | 1 | 5 |
| Georgia | 0 | 4 | 4 |
| Kentucky | 3 | 1 | 4 |
| New Jersey | 4 | 0 | 4 |
All 28 states
| Pennsylvania | 4 |
|---|---|
| Arizona | 3 |
| Kansas | 3 |
| Illinois | 2 |
| Maryland | 2 |
| New York | 2 |
| Ohio | 2 |
| Washington | 2 |
| Arkansas | 1 |
| Colorado | 1 |
| Indiana | 1 |
| Iowa | 1 |
| Louisiana | 1 |
| Minnesota | 1 |
| Mississippi | 1 |
| Missouri | 1 |
| Oregon | 1 |
| Utah | 1 |
Source: Five D I, LLC, 2024 filing, page 43
Who owns United Real Estate?
United Real Estate franchises are sold by Five D I, LLC. It is a subsidiary of United Real Estate Subsidiary Holdco, LLC.
From Five D I, LLC’s 2024 filing, page 6.
Lawsuits and bankruptcy
| Lawsuits and regulatory actions | Yes. The filing describes past or pending cases involving the franchisor, its affiliates or its executives on pages 12–13. |
|---|---|
| Bankruptcy | None. The filing says no bankruptcy has to be disclosed. |
Franchisors must disclose lawsuits and bankruptcies involving the company, its parents and affiliates, and its executives. Many cases are routine disputes with franchisees over fees or contracts; read the descriptions in the filing and ask current owners about anything that worries you.
Source: Five D I, LLC, 2024 filing, litigation on pages 12–13, bankruptcy on page 13
United Real Estate filings
A franchisor files a new disclosure each year it sells franchises. The figures on this page come from Five D I, LLC’s 2024 filing, issued July 12, 2024; the earlier ones below are on record with the Minnesota Department of Commerce and the NASAA Electronic Filing Depository and fill in older location counts.
| Filing | Issued | Registry | On this page |
|---|---|---|---|
| 2024 filing | July 12, 2024 | Minnesota | Costs, fees and locations, 2021–2023 |
| 2023 filing | – | NASAA depository | Locations, 2020 |
Each link opens the filing as a PDF. See the newest filings across all brands.
