When must an Exit franchisee report and enter EXIT Associates into EXIT's MEMO software?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee shall promptly and accurately report and enter all EXIT Associates of Franchisee (as defined in the EXIT Formula) into EXIT's proprietary software program, MEMO, and ensure the EXIT Associate roster is up to date regularly. Reporting shall occur when Sales Representatives are registered in the Multiple Listing Service ("MLS") system and when non licensed persons meet the qualification requirements outlined in the EXIT Formula.
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, a franchisee must promptly and accurately report and enter all EXIT Associates into Exit's proprietary software program, MEMO. This includes ensuring that the EXIT Associate roster is regularly kept up to date.
The reporting obligation is triggered when Sales Representatives are registered in the Multiple Listing Service (MLS) system. It is also triggered when non-licensed persons meet the qualification requirements outlined in the EXIT Formula.
For a prospective Exit franchisee, this means establishing a system for tracking when sales representatives are registered in the MLS and when non-licensed personnel meet the EXIT Formula qualifications. This ensures timely and accurate reporting of all EXIT Associates into the MEMO software, as required by the franchise agreement.