For Christies International Real Estate, is the Office Manager required 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.
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 Marketing Director is not required to be a Principal Owner. The FDD defines a "Marketing Director" as the person employed by the franchisee who is responsible for collaborating with the Christies International Real Estate marketing team, implementing local marketing initiatives, and enforcing branding guidelines at the local level.
In contrast, the "Responsible Broker" must be a Principal Owner approved by Christies International Real Estate. The Responsible Broker oversees business operations, represents the franchisee in interactions with Christies International Real Estate, and holds all necessary real estate licenses for the business.
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, it also means a shareholder or owner of 5% or greater interest in such corporation or other entity. If a partnership is a Principal Owner, a Principal Owner also means 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.