Is the date required on the Exit Realty Corp. Franchise Agreement?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
The Effective Date for Sales Representatives is defined as the date that (1) the Sales Representative's license is formally transferred under Franchise's Real Estate Broker's License, (2) the Sales Representative has executed a Sales Representative's Agreement which has been approved by EXIT, and (3) the EXIT Associate Profile (described in Section 9.f)) below) has been completed.
The Effective Date for all other EXIT Associates is defined as the date that (1) a written contract is executed with a Franchise, Subfranchise or EXIT, and (2) execution of the online EXIT Associate Profile.
The signing of the contract, the transfer of the real estate license and completion of the Associate Profile (see Section 9.f) below) are prerequisites to generate the remuneration package outlined in this document. EXIT Associates may not make use of the EXIT trade name or any other proprietary marks of EXIT, on business cards, signage or in any published media until these prerequisites have been met.
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the effective date of agreements with Exit Associates is specifically defined. For Sales Representatives, the effective date is the date when their license is formally transferred under the Franchise's Real Estate Broker's License, they have executed a Sales Representative's Agreement approved by Exit, and their EXIT Associate Profile has been completed. For all other Exit Associates, the effective date is the date when a written contract is executed with a Franchise, Subfranchise, or Exit, and the online Exit Associate Profile is completed.
This means that for an Exit Realty franchisee, the date the Franchise Agreement is signed and the Associate Profile is completed are critical. These actions trigger the start of the agreement and allow the franchisee to begin using Exit's trade name and proprietary marks. Until these prerequisites are met, the franchisee cannot fully operate under the Exit brand.
Prospective franchisees should pay close attention to these requirements and ensure all necessary steps are completed promptly to avoid delays in commencing operations. Understanding the specific criteria for establishing the effective date is essential for aligning with Exit's operational standards and leveraging the benefits of the franchise system.