What licenses must an Engel & Volkers franchisee or its officers hold?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
goodwill associated with the ENGEL & VÖLKERS System and assisting Franchisee in the operation of the franchised Business, and not for the purpose of controlling or in any way exercising or exerting control over Franchisee's decisions or the day-to-day operation of the franchised Business, including Franchisee's personnel-related decisions.
- 6.2 Personnel: 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.
Source: Item 22 — CONTRACTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the franchisee, or at least one of its officers, partners, and/or managers if the franchisee is an entity, must be licensed as a real estate broker. Furthermore, every employee, contractor, or Sales Advisor involved in real estate activities for the Engel & Volkers franchisee must possess a real estate broker, salesperson, or other appropriate license, as mandated by applicable laws, rules, or regulations. These individuals must also complete a training course conducted by Engel & Volkers and pass any related tests.
This requirement ensures that Engel & Volkers franchisees and their staff are qualified and legally authorized to provide real estate brokerage services. It also helps maintain the brand's reputation for professionalism and compliance. The franchisee is responsible for ensuring that all employees, contractors, and Sales Advisors meet these licensing and training requirements.
The franchisee must also provide Engel & Volkers with a current copy of its real estate broker license annually, no later than January 31 of each year. This obligation underscores the importance of maintaining proper licensing and adhering to all applicable laws and regulations. Failure to comply with these requirements could result in a breach of the franchise agreement.
Prospective Engel & Volkers franchisees should verify the specific licensing requirements in their state or local jurisdiction and ensure that they and their staff meet all necessary qualifications before commencing operations. They should also budget for the costs associated with obtaining and maintaining these licenses, as well as the costs of training courses and related tests.