Who owns the Proprietary Software used by Christies International Real Estate franchisees?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
| 1. | Main | Office. | The | Business | will | be | operated | from | the | following (the "Main Office"). | premises: |
|---|---|---|---|---|---|---|---|---|---|---|---|
| for the Business, we may terminate this Agreement. PROPOSED SITE FOR A CHRISTIE'S INTERNATIONAL PROBABILITY OF SUCCESS AT ANY APPROVED LOCATION. | If the office of your Business has not been designated as of the Effective Date, we will update this Exhibit 1 to include the address of the Main Office once determined. If you and we are unable to agree on a site YOU ACKNOWLEDGE AND AGREE THAT OUR APPROVAL OF A PROPOSED SITE FOR YOUR OFFICE OR ANY ADDITIONAL OFFICE DOES NOT REPRESENT A WARRANTY OR REPRESENTATION OF ANY KIND, EXPRESSED OR IMPLIED, AS TO THE SUITABILITY OF THE REAL ESTATE BUSINESS OR THE | ||||||||||
| 2. | Protected Territory. The Protected Territory shall consist of: (check either (a) or (b)) | ||||||||||
| (a) | ☐ | the | following | zip | codes | as | of | the | Effective | Date | |
| ("Protected Territory"); or | |||||||||||
| (b) | ☐ NONE | ||||||||||
| 3. | all rights including, but not limited to, those set forth in Section 1.3 of this Agreement. Royalty. The Royalty shall be equal to | If no Protected Territory is set forth above, then nothing in this Agreement, including in Section 1 hereof, shall be construed to grant you any territorial protection, exclusivity, or exclusive rights. In that case, the rights granted to you under this Agreement shall be nonexclusive and we and our affiliates have and retain | |||||||||
| 4. | may take any action we are permitted to take under the terms of this Agreement. | Performance Requirement. You understand and agree that in order to maintain your rights under this Agreement, you must achieve at least $ in Gross Revenue each calendar year during the term of the Agreement. The Minimum Performance Requirement will be pro-rated for the first year you operate the Business. If you fail to meet the Minimum Performance Requirement, we | |||||||||
| 5. | Designated Owner. The Designated Owner is: | ||||||||||
| 6. | Responsible Broker. The Responsible Broker is: | ||||||||||
| 7. | The Business will be identified for the public as follows: | ||||||||||
| Us: | |||||||||||
| Attn: Thad Wong and Mike Golden | |||||||||||
| 806 N. Peoria, Chicago, IL 60642 | |||||||||||
| Phone: (312) 254-0200 | |||||||||||
| You: | |||||||||||
| Attn: | |||||||||||
| Phone: | |||||||||||
| Email: |
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- All capitalized terms contained in this Exhibit 1 and not defined herein will have the same meaning as provided in this Agreement.
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- Additional Offices: You currently operate from, in addition to your "Main Office" identified in Paragraph 1 above, the following offices:
(1)
We agree to permit you to continue to operate from [this/these __] other office[s].
11. Software Integration.
- Addresses for Notices.
- (i) You acknowledge and agr
Source: Item 23 — RECEIPT (FDD pages 54–177)
What This Means (2025 FDD)
According to the 2025 Christies International Real Estate FDD, the franchisor will make its proprietary software/technology integration available to franchisees at a mutually agreed-upon date, following consultation with their project management team. The franchisor owns this proprietary software. At the time of software/technology integration, there will be a $125 annual fee per agent for the use of the Deal Management System (DMS) which includes the use of forms, and will be subject to a separate written agreement.
If MLS feeds are required as part of the proprietary software/technology integration, the specific MLSs and associated fees will be detailed in a separate written agreement. There may also be an MLS implementation fee, ranging from $5,000 to $10,000 per feed.
This means that while franchisees will have access to Christies International Real Estate's software, they will incur ongoing costs for its use. The DMS fee is a recurring annual expense per agent, and the MLS implementation fee, if applicable, represents a significant initial investment. Prospective franchisees should carefully review the separate written agreements to fully understand the terms, conditions, and costs associated with the software and MLS feeds.