What does the Deal Management System (DMS) for Christies International Real Estate include?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
| 1. | Main | Office. | The | Business | will | be | operated | from | the | following (the "Main Office"). | premises: |
|---|---|---|---|---|---|---|---|---|---|---|---|
| for the Business, we may terminate this Agreement. PROPOSED SITE FOR A CHRISTIE'S INTERNATIONAL PROBABILITY OF SUCCESS AT ANY APPROVED LOCATION. | If the office of your Business has not been designated as of the Effective Date, we will update this Exhibit 1 to include the address of the Main Office once determined. If you and we are unable to agree on a site YOU ACKNOWLEDGE AND AGREE THAT OUR APPROVAL OF A PROPOSED SITE FOR YOUR OFFICE OR ANY ADDITIONAL OFFICE DOES NOT REPRESENT A WARRANTY OR REPRESENTATION OF ANY KIND, EXPRESSED OR IMPLIED, AS TO THE SUITABILITY OF THE REAL ESTATE BUSINESS OR THE | ||||||||||
| 2. | Protected Territory. The Protected Territory shall consist of: (check either (a) or (b)) | ||||||||||
| (a) | ☐ | the | following | zip | codes | as | of | the | Effective | Date | |
| ("Protected Territory"); or | |||||||||||
| (b) | ☐ NONE | ||||||||||
| 3. | all rights including, but not limited to, those set forth in Section 1.3 of this Agreement. Royalty. The Royalty shall be equal to | If no Protected Territory is set forth above, then nothing in this Agreement, including in Section 1 hereof, shall be construed to grant you any territorial protection, exclusivity, or exclusive rights. In that case, the rights granted to you under this Agreement shall be nonexclusive and we and our affiliates have and retain | |||||||||
| 4. | may take any action we are permitted to take under the terms of this Agreement. | Performance Requirement. You understand and agree that in order to maintain your rights under this Agreement, you must achieve at least $ in Gross Revenue each calendar year during the term of the Agreement. The Minimum Performance Requirement will be pro-rated for the first year you operate the Business. If you fail to meet the Minimum Performance Requirement, we | |||||||||
| 5. | Designated Owner. The Designated Owner is: | ||||||||||
| 6. | Responsible Broker. The Responsible Broker is: | ||||||||||
| 7. | The Business will be identified for the public as follows: | ||||||||||
| Us: | |||||||||||
| Attn: Thad Wong and Mike Golden | |||||||||||
| 806 N. Peoria, Chicago, IL 60642 | |||||||||||
| Phone: (312) 254-0200 | |||||||||||
| You: | |||||||||||
| Attn: | |||||||||||
| Phone: | |||||||||||
| Email: |
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- All capitalized terms contained in this Exhibit 1 and not defined herein will have the same meaning as provided in this Agreement.
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- Additional Offices: You currently operate from, in addition to your "Main Office" identified in Paragraph 1 above, the following offices:
(1)
We agree to permit you to continue to operate from [this/these __] other office[s].
11. Software Integration.
- Addresses for Notices.
- (i) You acknowledge and agr
Source: Item 23 — RECEIPT (FDD pages 54–177)
What This Means (2025 FDD)
According to the 2025 Christies International Real Estate Franchise Disclosure Document, the Deal Management System (DMS) includes the use of forms. Franchisees will be charged an annual fee of $125 per agent for using the DMS. The DMS is part of Christies International Real Estate's proprietary software/technology integration, which may be made available to franchisees after consultation with the franchisor's project management team and upon reaching a mutually agreed date. Use of the DMS is also subject to a separate written agreement.
If the proprietary software/technology integration requires MLS feeds, the specific MLSs and associated fees will be detailed in a separate written agreement. Additionally, there may be an MLS implementation fee ranging from $5,000 to $10,000 per feed. This fee is separate from the annual DMS fee and covers the cost of integrating MLS data into the system.
For prospective Christies International Real Estate franchisees, it's important to understand the costs associated with the DMS and MLS integration. The $125 annual fee per agent for DMS, along with potential MLS implementation fees ranging from $5,000 to $10,000 per feed, can add to the overall operational expenses. Franchisees should clarify the specifics of these fees and the terms of the separate written agreements during their due diligence process. Understanding these costs and terms is crucial for budgeting and financial planning.
It is also important to note that the availability and timing of the software/technology integration, including the DMS, are subject to agreement between the franchisee and Christies International Real Estate. This means that franchisees may not have immediate access to the DMS upon signing the franchise agreement and may need to plan accordingly for their initial operations.