If the Engel & Volkers franchisee is an entity, what qualifications must it meet?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee hereby agrees to employ only qualified personnel with background, experience and credentials customary under best practices and standards in the real estate brokerage industry. Franchisee and, if an entity, at least one of its officers, partners and/or managers, must be licensed as a real estate broker, and every employee, contractor, or Sales Advisor who is involved in real estate activities for Franchisee shall have a real estate broker, salesperson or other appropriate license, if and as required by applicable law, rules or regulations. These employees, contractors, and Sales Advisors must have attended an appropriate training course conducted by Franchisor and have passed related tests. Franchisee is responsible for ensuring that its real estate brokerage is open during local normal business hours for residential real estate brokerages. Franchisee shall be responsible for ensuring that its obligations under this Agreement are observed by its employees,
Source: Item 22 — CONTRACTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, if the franchisee is an entity, at least one of its officers, partners, and/or managers must be licensed as a real estate broker. This ensures that the Engel & Volkers franchise is managed by someone with the appropriate credentials and expertise in real estate. All employees, contractors, or Sales Advisors involved in real estate activities for the franchisee must also have the appropriate real estate licenses as required by law.
In addition to licensing requirements, these employees, contractors, and Sales Advisors must attend a training course conducted by Engel & Volkers and pass related tests. This requirement ensures that everyone involved in the Engel & Volkers franchise is properly trained and knowledgeable about the Engel & Volkers system and standards. The franchisee is also responsible for ensuring that the real estate brokerage is open during local normal business hours for residential real estate brokerages.
Overall, these qualifications ensure that the Engel & Volkers franchise operates professionally and in compliance with all applicable laws and regulations. It also helps maintain the integrity and reputation of the Engel & Volkers brand. Prospective franchisees should verify specific licensing requirements in their local jurisdiction and factor in the costs associated with training staff and ensuring compliance.