Does Corcoran currently charge for software upgrades and updates?
Corcoran Franchise · 2025 FDDAnswer from 2025 FDD Document
o contractual limitations on the frequency or cost of this obligation. (Franchise Agreement, Section 9). As of the issuance date of this disclosure document, we have not charged for software upgrades, but we have the right to do so in the future and we estimate the costs for any optional or required maintenance updates, upgrading or support contracts for an office will range between $1,000 and $2,000 or more per year.
The costs of the minimum hardware and software components required above will vary based on the size of the Office and number of independent sales associates.
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 48–57)
What This Means (2025 FDD)
According to Corcoran's 2025 Franchise Disclosure Document, as of the issuance date of the document, Corcoran does not charge franchisees for software upgrades and updates. However, Corcoran retains the right to charge for these in the future.
Corcoran estimates that the costs for any optional or required maintenance updates, upgrading, or support contracts for an office will range between $1,000 and $2,000 or more per year. Another estimate provided in Item 6 of the FDD puts these costs between $1,000 and $3,000 per year.
Prospective franchisees should be aware that Corcoran can require them to update, replace, or add to their computer equipment (including hardware, software, services, data protection, and other related components) during the term of the Franchise Agreement, and there are no contractual limitations on the frequency or cost of this obligation. This means that while upgrades are currently free, franchisees should budget for potential future costs and mandatory technology updates.