In what format are the Engel & Volkers reports provided for completion and submission?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
ange information on their experiences among themselves and with Franchisor. Such conferences and any such forum may be in physical in-person format and/or virtual format, as determined in Franchisor's sole business judgment. Any Principal owning twenty-five percent (25%) or more in Franchisee must attend all such conferences, at Franchisee's expense. If a Principal does not attend, the Franchisee will still be responsible for paying the Franchisor the lowest applicable registration fee for either on-site or virtual attendance.
13. Reporting, Rights of Control and Data
13.1 Reports: Franchisee shall transmit to Franchisor via Franchisor's online reporting systems not later than 2:00 p.m. (EST or EDT) on the Thursday of each week the prior week's data relating to the real estate brokerage services of its Approved Location as it may be further
detailed in the System Documentation.
Source: Item 22 — CONTRACTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers's 2025 Franchise Disclosure Document, franchisees must transmit data relating to their real estate brokerage services to Engel & Volkers via the franchisor's online reporting systems. This data must be submitted no later than 2:00 p.m. (EST or EDT) on Thursdays, covering the prior week's activities at the Approved Location. If a franchisee operates multiple Approved Locations, they must submit data separately for each location.
The specific reports and their required formats are determined by Engel & Volkers and may change over time. As of the Effective Date of the franchise agreement, franchisees must submit the reports outlined in the System Documentation, starting from the Payment Start Date. Franchisees are also required to maintain organized and complete records of all reports, along with written business, accounting, tax, sales, and financial records, adhering to industry best practices.
Prospective Engel & Volkers franchisees should be aware of these reporting obligations and ensure they have the necessary systems and processes in place to comply with these requirements. It is important to review the System Documentation carefully to understand the current reporting requirements and to stay informed of any changes communicated by Engel & Volkers. Understanding these reporting requirements is crucial for maintaining compliance and ensuring smooth operations as an Engel & Volkers franchisee.