What is the due date for the Development Services Designation Annual Fee for Engel & Volkers?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Development Services Designation Annual Fee | $2,500 - $6,000 depending on number of participating designees. | Upon receipt of an invoice. | Development services designation is an optional program for qualified franchisees. (See Note 13) |
Source: Item 6 — OTHER FEES (FDD pages 22–30)
What This Means (2025 FDD)
According to Engel & Volkers's 2025 Franchise Disclosure Document, the Development Services Designation Annual Fee is due upon receipt of an invoice. The fee ranges from $2,500 to $6,000, depending on the number of participating designees.
The Development Services Designation is an optional program for qualified franchisees. This means that franchisees are not required to participate in this program, but those who choose to do so must pay the annual fee. The amount of the fee varies based on the number of designees participating from the franchisee's brokerage.
For prospective Engel & Volkers franchisees, it's important to note that while the Development Services Designation is optional, understanding the fee structure is crucial if they plan to utilize this program. Franchisees should factor this potential cost into their financial planning and be prepared to pay the fee promptly upon receiving an invoice from Engel & Volkers.