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SilverPointe Properties to Franchise


Silverpointe Properties is wrapping up the legal work to start franchising by next year. Bill Henson, who started the residential real estate firm in 2005, has trademarked the name and plans to have 12 corporately owned offices in Middle Tennessee. He also plans to sell franchises outside this market as well as statewide rights.

"The bigger you build the brand, the more opportunity you have," Henson says. "In any business, if you're not growing, you're declining."

Silverpointe has 140 agents working out of two offices, one in Brentwood and one in Cool Springs.

The slowing market hasn't impacted Silverpointe's sales. Henson says they're up 52 percent between 2006 and 2007.

"We've been fortunate to be the benefactor of a really good reputation and image in the marketplace," he says.

There's been a trend toward franchising in the last 10 years. Broker Larry Lipman of The Lipman Group/Sothebys International Realty says real estate companies franchise to form an income stream.

Nashville headquartered companies don't choose to franchise very often, Lipman says.

Henson says he isn't aware of other local real estate companies started in Middle Tennessee that sell franchises except Crye-Leike Realtors Inc.

Crye-Leike has about 40 franchises outside of Nashville in locations where it won't compete with the corporate offices, says Kevin Joiner, president of franchise sales and development for Crye-Leike.

Many companies based in other cities have franchises in Nashville, such as EXIT, Coldwell Banker and Re/Max.

Joiner says franchisees are looking for a good brand and an association with a company with experience that can guide them to be successful and avoid pitfalls.

"Most professionals want to find someone who has blazed a trail of success who has been there before," he says.



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