The purpose of this research is to develop a franchisee`s performance evaluation model of real estate internet portal services and to identify causal relationships among model variables. In this study, Balanced Score Card(BSC) method, emerged as more general, appropriate methodology in evaluating a firm, is introduced to develop the model and model hypotheses are suggested. For the empirical analysis, factor analysis and regression analysis are applied to test hypotheses using the questionnaire data collected from franchised real estate brokers. The result shows that the application of BSC method in evaluating the real estate brokerage is relevant and model variables derived from 4 BSC perspectives are to be appropriate. It also shows that there are some causal relationship between key BSC model variables. This paper is considered to be the first attempt to evaluate real estate brokerage using well-known BSC method. Even though some research limitation and further research needs, it can contribute to evaluate the performance of real estate brokerage houses and suggest some management guidelines for practitioners.