For Christies International Real Estate, does the 'Office Manager' need to be a Principal Owner?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
es the portion of the commissions earned from each transaction that is paid to or shared with an authorized and approved affiliated referral source, as permitted under Section 5.17.
- 21.7. "Internet" means one or more related documents, designs, pages, or other communications or platforms that can be accessed through electronic means, including but not limited to the Internet, World Wide Web, social networking sites (including but not limited to Facebook, Twitter, LinkedIn, Instagram, YouTube, etc.), blogs, vlogs, and other applications, etc. For the avoidance of doubt, we reserve, maintain, and control all rights with respect to the metaverse.
- 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.
- 21.9. "Marks" means the trademarks, service marks, and other trademarks, trade names, service marks, domain names, logos and commercial symbols that we have designated, or may in the future designate, for use in the System, which include CHRISTIE'S INTERNATIONAL REAL ESTATE.
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 Office Manager is not required to be a Principal Owner. The document defines several roles within a franchisee's business, specifying whether or not they need to be a Principal Owner.
Specifically, the FDD states that the 'Marketing Director' does not need to be a Principal Owner. The 'Agent Support Director' also does not need to be a Principal Owner.
A 'Principal Owner' is defined as any person or entity who directly or indirectly owns a 5% or greater interest in the franchise. This definition extends to shareholders or owners of a 5% or greater interest in a corporation or other entity that is a Principal Owner, as well as each general partner in a partnership that is a Principal Owner.