What laws and regulations must a Christies International Real Estate franchisee comply with?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
You must comply with all applicable laws and regulations that apply to your Business, including those governing the operations of real estate brokerages. Additionally, you, your Business, and/or your Responsible Broker must be a licensed real estate broker in every jurisdiction you operate the Business. Each real estate broker and real estate agent must obtain and maintain the required applicable licenses and permits required within the jurisdictions the Business will operate. You are solely responsible for investigating and complying with all applicable laws and regulations.
In addition to your compliance with applicable laws, you must comply with the rules and regulations of the state and local boards of realtors within the geographic area you operate the Business, however, you are not required to comply with any codes, standards, rules, or regulations should they potentially violate any state or federal antitrust or unfair competition laws.
Source: Item 1 — THE FRANCHISOR, AND ANY PARENTS, PREDECESSORS AND AFFILIATES (FDD pages 7–11)
What This Means (2025 FDD)
According to the 2025 Christies International Real Estate Franchise Disclosure Document, franchisees must operate their business in compliance with all applicable laws and regulations. This includes laws governing the operation of real estate brokerages. Furthermore, the franchisee, their business, and the Responsible Broker must be licensed real estate brokers in every jurisdiction where they operate. Each real estate broker and agent must also obtain and maintain all required applicable licenses and permits within those jurisdictions. Franchisees are solely responsible for investigating and adhering to all relevant laws and regulations.
In addition to legal compliance, Christies International Real Estate franchisees must comply with the rules and regulations set by state and local boards of realtors in their operating area. However, franchisees are not required to comply with any codes, standards, rules, or regulations that might violate state or federal antitrust or unfair competition laws. This caveat protects franchisees from potentially restrictive or anti-competitive practices imposed by local realtor boards.
In practical terms, this means a prospective Christies International Real Estate franchisee needs to conduct thorough due diligence to understand the specific legal and regulatory landscape in their chosen territory. This includes federal, state, and local laws related to real estate brokerage, licensing requirements for brokers and agents, and any rules imposed by local realtor boards. Franchisees should consult with legal counsel to ensure full compliance and to navigate any potential conflicts between local regulations and antitrust laws. Failing to comply with these regulations can result in fines, penalties, and potential legal action, which could significantly impact the franchisee's business operations and profitability.