What are the requirements for a Responsible Broker operating a Corcoran franchise?
Corcoran Franchise · 2025 FDDAnswer from 2025 FDD Document
- 2.3 Responsible Broker. You will not operate without a Responsible Broker, who must have a license in good standing within the state(s) where you operate. You will notify us in writing if you change your Responsible Broker.
"Responsible Broker" means your licensed real estate broker as required under the laws of the state in which the Office is located.
- 6.1.2 Orientation. The "Orientation" is our program to introduce the System to the Responsible Broker and other staff. When the Orientation is given, it will consist of our then-current training program. The Orientation will be held at such times and places as we designate. It may also be conducted virtually. You will be responsible for all travel costs and living expenses incurred in connection with the attendance of your personnel at the Orientation.
- 6.1.2.1 If you are signing this Agreement to acquire a new franchise directly from us, you will register for Orientation within twelve (12) months of the Opening Date. You, your Responsible Broker (or designee) must attend Orientation within twelve (12) months of the Opening Date. We will not charge a registration fee for one attendee at Orientation. Your failure to send the Responsible Broker (or designee) to attend Orientation in accordance with this Agreement will require you to pay our then-current registration fee in addition to your other expenses to attend.
- 6.1.2.2 If you acquire your franchise as a result of a Transfer of the Franchise from another Franchisee, attendance at the Orientation is required by the Responsible Broker or Designee, at your expense. We may charge our then-current registration fee in connection with their attendance at the Orientation.
- 6.1.2.3 If you change the Responsible Broker for your office, your new Responsible Broker must attend the next scheduled Orientation within twelve (12) months after he or she becomes your Responsible Broker.
You will pay all costs for the new attendees' attendance at Orientation, including our then-current registration fee.
- 6.1.1 Methods and Techniques. We or a Related Party will provide you with our real estate brokerage selling, promotional and merchandising methods and techniques and will maintain a staff to give you assistance and service.
Source: Item 23 — RECEIPTS (FDD pages 75–276)
What This Means (2025 FDD)
According to Corcoran's 2025 Franchise Disclosure Document, a franchisee must have a Responsible Broker to operate. This individual must possess a real estate broker's license in good standing in the state where the Corcoran office is located. The franchisee is obligated to inform Corcoran in writing if there is a change in the Responsible Broker.
The Responsible Broker, or a designated individual, is required to attend Corcoran's Orientation program to learn about the Corcoran system. For new franchises acquired directly from Corcoran, this orientation must be completed within twelve months of the franchise's opening date. While Corcoran does not charge a registration fee for one attendee at the Orientation, failure to send the Responsible Broker (or designee) within the specified timeframe will result in a fee. If the franchise is acquired through a transfer from another franchisee, the Responsible Broker or designee is still required to attend the Orientation, and Corcoran may charge a registration fee for their attendance.
If the Responsible Broker changes, the new Responsible Broker must attend the next scheduled Orientation within twelve months of their appointment. The franchisee is responsible for covering all costs associated with the new attendee's participation, including the registration fee. The franchisor also provides the franchisee with their real estate brokerage selling, promotional and merchandising methods and techniques and will maintain a staff to give you assistance and service.