Who determines the meeting schedule for the Brokers' Council that Exit franchisees must join?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee shall join, maintain membership at its own expense, and actively participate in a Brokers' Council, as established by Subfranchisor. This Broker's Council will meet on a regular basis, as determined by Subfranchisor. The geographical area and meeting location of each Broker's Council may change, from time to time, based on the establishment of franchises throughout the State. Notifications of these meetings will be sent, in advance, to each Franchise. Franchisee shall abide by all rules and regulations as may be established by the Broker's Council, including any decision reached in accordance with the rules and regulations of the Broker's Council directed to EXIT franchisees. The Broker's Council may establish membership fees and other charges in order to be an active participant in the Broker's Council. The establishment of rules, procedures and membership fees and charges shall be determined by at least 2/3 of the Franchisee members and shall not be calculated on a per transaction basis. Representation in the Broker's Council will be limited to two (2) participants at regular meetings. Each Franchise, in good standing, shall have one (1) vote with respect to decisions considered by the Broker's Council.
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the Subfranchisor determines the meeting schedule for the Brokers' Council. The Exit franchisee is required to join and actively participate in this council, bearing all associated expenses. The Brokers’ Council meets regularly, with the specific schedule determined by the Subfranchisor.
The geographical area and meeting locations for each Brokers' Council are subject to change as new Exit franchises are established within the state. Franchisees will receive advance notification of these meetings. Franchisees must adhere to all rules and regulations set forth by the Brokers' Council, including decisions made in accordance with its rules that are specifically directed to Exit franchisees.
The Brokers' Council has the authority to establish membership fees and other charges to facilitate active participation. These fees and charges are determined by a vote of at least two-thirds of the franchisee members and cannot be calculated on a per-transaction basis. Each Exit franchise in good standing has one vote on matters considered by the Brokers' Council, with representation limited to two participants at regular meetings.