For Christies International Real Estate, does the 'Office Broker' need to be a Principal Owner?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
- 21.2. "Agent Support Director" means the person you employ who is responsible for providing the agents affiliated with your Business with support and guidance related to CHRISTIE'S INTERNATIONAL REAL ESTATE business tools, training, and services.
The Agent Support Director does not need to be a Principal Owner.
- 21.8. "Marketing Director" means the person you employ that is responsible for collaborating with the CHRISTIE'S INTERNATIONAL REAL ESTATE marketing team, implementing local marketing initiatives, and enforcing branding guidelines on a local level.
The Marketing Director does not need to be a Principal Owner.
- 21.11. "Principal Owner" means any person or entity who directly or indirectly owns a 5% or greater interest in you.
If any corporation or other entity other than a partnership is a Principal Owner, a Principal Owner also will mean a shareholder or owner of a 5% or greater interest in such corporation or other entity.
If a partnership is a Principal Owner, a Principal Owner also will mean each general partner of such partnership and, if such general partner is an entity, each owner of a 5% or greater interest in such general partner.
- 21.12. "Responsible Broker" means the Principal Owner we approved who will oversee the Business operations, who will represent you in interacting with us, and who holds all the necessary real estate licenses for the Business.
4. TRAINING AND OPERATING ASSISTANCE
- **4.1.
Initial Training**.
We have the right to require, in our discretion, your Responsible Broker, Office Broker, Marketing Director and Agent Support Director for the Main Office and each Additional Office (if any) (hereinafter referred to as "Trainees") to attend, and complete to our satisfaction, our then-current initial training program on the operation of a Business and the Brand Guidelines and Systems, to be provided at a place and time we designate.
You are solely responsible for the compensation, travel, lodging and living expenses incurred by your Trainees and any required additional individuals in attending the initial training program and any additional trainings required.
Source: Item 23 — RECEIPT (FDD pages 54–177)
What This Means (2025 FDD)
According to Christies International Real Estate's 2025 Franchise Disclosure Document, the Office Broker is not required to be a Principal Owner. However, the Responsible Broker, who oversees business operations and interacts with Christies International Real Estate, must be a Principal Owner approved by the company.
A Principal Owner is defined as any person or entity who directly or indirectly owns 5% or greater interest in the franchise. If the Principal Owner is a corporation or entity other than a partnership, then a shareholder or owner of 5% or greater interest in that entity is also considered a Principal Owner. If the Principal Owner is a partnership, each general partner is considered a Principal Owner; if that general partner is an entity, each owner of a 5% or greater interest in the general partner is a Principal Owner.
Christies International Real Estate also requires the Responsible Broker, Office Broker, Marketing Director, and Agent Support Director for the Main Office and each Additional Office to attend and complete the initial training program. The franchisee is responsible for the compensation, travel, lodging, and living expenses incurred by these individuals during training.