Who is considered a 'Responsible Broker' for a Corcoran franchise?
Corcoran Franchise · 2025 FDDAnswer from 2025 FDD Document
- [5] "Orientation" is our required program to introduce you, your Responsible Broker or other staff to the System. Your Responsible Broker is defined as your licensed real estate broker as required under state laws in which your Office is located. It is completed as part of your multi-week transition into the brand and is offered virtually through a customized learning plan, which may include mandatory attendance in our virtual Leadership Courses offered by Agent Studio®. If Orientation is offered inperson, or if you acquire the franchise as a result of a Transfer of the Franchise, or if your Responsible Broker changes, we may charge a registration fee for failure to send one attendee to Orientation. Under the Franchise Agreement, a "Transfer of the Franchise" means a transaction or series of transactions that result in the franchise ownership changing either by having less than 51% equity interest in the legal entity operating the franchise, or the Owner(s) transferring more than a majority of the controlling interest in the Business to a third party. A Transfer of the Franchise can also occur from a variety of circumstances, including divorce, death, insolvency, dissolution, declaration of or transfer of the Business in a trust, or a foreclosure on the Business assets.
Source: Item 6 — OTHER FEES [1] [2] (FDD pages 27–34)
What This Means (2025 FDD)
According to Corcoran's 2025 Franchise Disclosure Document, a 'Responsible Broker' is defined as the franchisee's licensed real estate broker, as mandated by the state laws where the Corcoran office is located. This individual is a key figure who must be introduced to the Corcoran system through the 'Orientation' program. This program is designed to integrate the broker and other staff into the Corcoran brand.
The Orientation program is a multi-week transition that is currently offered virtually through a customized learning plan. This plan may include mandatory attendance in virtual Leadership Courses offered by Agent Studio®. While the orientation is typically virtual, Corcoran retains the right to offer it in person in the future.
It's important to note that Corcoran may charge a registration fee for the Orientation program if it is offered in person, if the franchise is acquired through a transfer, or if the Responsible Broker changes. This fee is intended to cover the costs associated with training and integrating new personnel into the Corcoran system. A 'Transfer of the Franchise' is defined as any transaction that results in a change of franchise ownership where less than 51% equity interest remains, or a transfer of the majority of controlling interest to a third party.