For what purpose does an Engel & Volkers franchisee agree to supply data in a system-compatible form?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
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. Should Franchisor grant Franchisee the right to operate multiple Approved Locations, Franchisee shall transmit to Franchisor the data for each Approved Location separately. Franchisor may from time to time specify what reports and in what format they must be submitted. As of the Effective Date, the following reports must be submitted, starting as of the Payment Start Date:
Source: Item 22 — CONTRACTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, franchisees are required to transmit data relating to their real estate brokerage services to Engel & Volkers via online reporting systems. This data must be submitted no later than 2:00 p.m. (EST or EDT) every Thursday, 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 formats are subject to Engel & Volkers' specifications, which may change over time as detailed in the System Documentation. As of the Effective Date of the franchise agreement, franchisees must submit certain reports starting from the Payment Start Date, though the FDD excerpt does not specify the content or nature of these reports.
This reporting requirement allows Engel & Volkers to monitor the performance of its franchisees, maintain consistency across the brand, and potentially identify areas where franchisees may need additional support or training. For a prospective franchisee, this means adhering to a strict reporting schedule and format, and ensuring their systems are compatible with Engel & Volkers' online reporting platform. It is important for potential franchisees to understand the scope and frequency of these reporting requirements to accurately assess the administrative burden of operating an Engel & Volkers franchise.