How is 'Gross Revenues' defined for a Christies International Real Estate franchise, and what is included in this definition?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
is Agreement.
- 21.4. "Content" means all text, images, sounds, files, videos, designs, animations, layouts, color schemes, trade dress, concepts, methods, techniques, processes and data used in connection with, displayed on, or collected from or through the Intranet or email system.
- 21.5. "Customer Data" means any name, address, email address, telephone number, date of birth, demographic data, behavioral data, customer service history, financial data, transaction data, correspondence, and other information about any potential, current, or former customer of the Business, whether stored in electronic, physical, or other forms or formats.
- 21.6. "Gross Revenues" means the aggregate dollar amount from all sales of goods or services made, provided by, or in connection with the Business or the Marks, whether for cash or credit or non-cash payments or consideration at fair market value, regardless of collection in the case of credit, before the deductions of any fees, costs, or expenses you incur. Gross Revenue includes, without limitation, the total commissions earned
Source: Item 23 — RECEIPT (FDD pages 54–177)
What This Means (2025 FDD)
According to Christies International Real Estate's 2025 Franchise Disclosure Document, Gross Revenues are defined as the total dollar amount from all sales of goods or services made, provided by, or connected with the Business or the Marks. This includes cash, credit, non-cash payments, or consideration at fair market value, regardless of whether payment has been collected for credit transactions. Gross Revenues are calculated before deducting any fees, costs, or expenses incurred by the franchisee.
Specifically, Gross Revenue includes the total commissions earned from each transaction before any deductions, including MLS fees. For example, if a Christies International Real Estate office or one of its agents sells a home for $500,000 with a 6% commission and a 50/50 split between the seller's and buyer's agents, the gross commission would be $15,000. This $15,000 is the figure upon which Royalty Fees and other fees will be calculated.
However, Gross Revenue excludes any portion of commissions earned from a transaction that is paid to or shared with an authorized and approved affiliated referral source, as permitted under Section 5.17 of the agreement. This exclusion provides a potential benefit to franchisees by reducing the revenue base upon which royalties are calculated, incentivizing them to utilize approved referral sources.